NEWS

February 6, 2003
Flood Underwriters of Seattle, LLC has contracted with Colonial American Casualty & Surety as a WYO Flood Insurance Carrier. Colonial American is a member of the Zurich Financial Services Group and is licensed in all 50 states, except New Hampshire. In addition, this insurer enjoys a 2002 A.M. Best Rating of A+, Size Class XV. We are very pleased with the opportunity to work with this fine carrier and organization.

January 2, 2003
Seattle Specialty has formed Flood Underwriters of Seattle,
LLC, a Flood Insurance operation specifically to support our "Write Your
Own" WYO initiative. Flood Underwriters of Seattle will take advantage of
our state-of-the-art Web-Based technology to deliver Flood Insurance on a
National Basis.