A.M. Best Comments on Misquote in MarketWatch Article on White Mountains

Business Wire, June 26, 2006

OLDWICK, N.J. -- A.M. Best Co. has provided the following comment on a recent misquote that originally appeared in a June 20, 2006 article on MarketWatch referring to White Mountains and Olympus Re and subsequently was mentioned in other publications.

In the referenced article, an A.M. Best Analyst was allegedly quoted as "theorizing" that White Mountains may have previously agreed to reimburse new investors in Olympus Re for any additional losses resulting from the 2005 US Hurricanes.

For the record, A. M. Best did not make any representations in this vein. When the writer of the reference article introduced this theory of his own accord, the A. M. Best analyst clearly indicated that he had no knowledge of any agreements between White Mountains and the investors in Olympus Re, and that to obtain this type of information the writer would need to speak directly with the management of the companies in question.

A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source. For more information, visit A.M. Best's Web site at www.ambest.com.