* * * *  NEWS STORIES * * * *

1. BANK OF AMERICA TO MAKE RESTITUTION, GIVE UP FEES

NEW YORK, Sept. 8 (Reuters) - Moving to address allegations of improper trading at its Nations Funds unit, Bank of America Corp. on Monday said it will make "appropriate restitution" to shareholders, and said Nations Funds will hire an independent firm to assess if the funds were hurt financially. The Charlotte, North Carolina-based bank, the No. 3 U.S. bank by assets, also said the funds will be reimbursed for all fees that were the subject of a market-timing agreement with hedge fund Canary Capital Partners LLC.Bank of America said it will continue cooperating with government and regulatory authorities to resolve the matter. New York Attorney General Eliot Spitzer last week said Nations helped Canary conduct "late trading." This involves trading mutual funds after hours at stale prices, enabling a trader to make profit and avoid losses in ways ordinary investors cannot.  Back to Top

2. NYSE FACING PRESSURE TO DEMUTUALIZE - PAPER

NEW YORK, Sept. 7 (Reuters) - The New York Stock Exchange, the world's biggest stock market, is facing pressure to demutualize to offset concerns about its governance in the wake of disclosures over its chairman's out-sized pay package, the Financial Times reported. The NYSE's special governance committee on Friday heard testimony from at least one member, Francis Maglio, who said changing the exchange's ownership structure would improve its "transparency and integrity," the newspaper reported. An NYSE spokesman on Sunday declined to comment on the FT report.

The NYSE is owned by its 1,366 members. A demutualization could involve selling shares to outsiders similar to other exchanges, such as the London Stock Exchange. The NYSE faced criticism in recent weeks over its disclosure that it paid Chairman Richard Grasso $139.5 million in accrued savings, benefits and incentives when it extended his contract for an additional two years, to 2007. It also said it would pay Grasso a base salary of $1.4 million and an annual bonus of at least $1 million.Grasso's compensation prompted the Securities and Exchange Commission to write a terse letter to NYSE board member H. Carl McCall, saying the compensation "raises serious questions regarding the effectiveness of the NYSE's current governance structure."

The NYSE several years ago considered but rejected the idea of demutualization. The matter was never brought to member or board vote. Grasso has said that the exchange is not now considering demutualization. McCall and former White House Chief of Staff Leon Panetta co-chair the NYSE's special governance committee to recommend improvements to the exchange's governance. The committee is currently taking testimony from various interested parties and is expected to make its recommendations later this year.  Back to Top

3. SEPT. 7-13 IS NATIONAL EMERGENCY PREPAREDNESS WEEK

Most Businesses Have Plans to Protect Themselves and Employees against Emergencies, Reports Survey from The Hartford. HARTFORD, CONN. - Nearly all small and midsize businesses have taken at least some steps to protect themselves against an emergency, according to a national survey conducted by The Hartford Financial Services Group Inc. (NYSE:HIG). The survey revealed that 97 percent of small and midsize businesses have at least one plan in place - if not more - to protect themselves against some type of emergency. The survey, which consisted of interviews with 225 businesses with three to 500 employees, asked businesses if they had procedures in place to guard against national disasters, workplace violence, terrorism, unauthorized entry, handling of suspicious mail or packages and other emergencies. The survey was conducted by Market Decisions Corp., Portland, Ore., on behalf of The Hartford. It has a +/- 5 percent margin of error.

“Emergency preparedness plans benefit both the business and its employees,” says John Kauffman, director of Loss Control Training at The Hartford. “They help secure employees’ safety and protect the business’ assets, and they can also help a business stay in operation during an emergency or quickly recover. That often can mean the difference between staying in or going out of business.”

The nationally representative survey found that, on average, businesses have four different types of plans in place to protect themselves against emergencies. The most common emergency prevention procedure used by businesses (84 percent) is backing up data and records, usually by copying it on to discs or tapes. A smaller number of businesses e-mail files to another location and some also print out paper copies.

Significantly fewer - 61 percent - have procedures for reporting acts of workplace violence, 53 percent have taken measures to prevent unauthorized entry into buildings, and 44 percent have plans protecting their operations and employees in the event of natural disasters.

Slightly more than a quarter of all midsize and small businesses have steps in place for handling suspicious mail or packages; the same number (26 percent) conduct periodic emergency evacuation drills; and 24 percent have crisis management teams to interact with employees during emergencies. Interestingly only 12 percent say they have procedures to follow in the event of terrorism.

“The good news is that businesses are committed to communicating to employees during an emergency,” Kauffman said. “Nearly three out of four small and midsize businesses say they have emergency communications plans in place. These plans not only help protect employees and address their uncertainties during an emergency, but they can also safeguard a business’ facilities and assets since plans often include instructions for notifying authorities and other organizations. These procedures can lead to quicker response and resolution of the emergency.” Kauffman advises that business owners take the following steps to protect their businesses and develop emergency preparedness plans:

Plan in Advance

• Assign an emergency coordinator to develop and maintain your emergency plan.
• Establish and practice evacuation plans, including primary and secondary routes, for a fast exit. Assign specific gathering places for evacuated employees to meet.
• Develop a contingency plan for continued business operations, including routing inventories and deliveries to another facility or location.
• Keep updated lists of emergency contacts and telephone numbers. This list should also include your employees, insurance agent, customers, suppliers and distributors. Store a copy off site.
• Have on hand a first aid kit, flashlight with fresh batteries, battery-powered radio, waterproof plastic bags and covers, camera with film, a tool kit and an appropriate supply of bottled water and nonperishable food.
• Back up critical electronic data and programs at least once a day, and store copies of this data, along with software programs, in a location separate from your facility.
• Monitor local weather closely.
• Designate and train employees on each floor or area to coordinate the drill program and report on results.

For Storms and Floods

• Secure objects inside your facility that could become airborne from winds coming inside.
• Close and secure all doors and windows.
• Brace outside structures.
• Inspect all battery-powered equipment and backup power.
• Check fire protection equipment.
• Inspect sewers and drains, and check drainage pumps.
• Check roof and flashing; and prune all dead branches from landscaping.
• Remove all chemical paints, oils, cleaners and flammable liquids from premises to prevent damage to the facility and to individuals involved in the clean up.
• Bring in and tie-down outdoor possessions.
• Turn-off utilities and close the main gas valve if evacuation is imminent.
• Remove electrical motors and control panels from large equipment, according to the manufacturer’s instructions.

For Unauthorized Entry

• Use picture or other positive identification cards for employees.
• Reduce the number of entrances into the building.
• Require visitors to sign-in upon entry and make sure an authorized employee accompanies them during their visit.

To Minimize Violence

• Train managers and supervisors on warning signs that potentially violent employees may exhibit. These can include significant changes in personality, personal care, personal habits and appearance, as well as in social interaction.
• Provide vulnerable employees (receptionists, customer relations representatives, human resources personnel and others that have similar front-line visibility) with a discreet way of alerting for help, such as a hidden alarm button.
• Maintain a zero tolerance for any kind of violence, including verbal and physical threats, as well as destruction of property.

After the Disaster

• Conduct a roll call of employees.
• Assess damage.
• Check for safety hazards.
• Photograph and document damage.
• Initiate salvage operations.

The Hartford is one of the nation's largest investment and insurance companies, with 2002 revenues of $16.4 billion. The company is a leading provider of investment products, life insurance and group benefits; automobile and homeowners products; and business property and casualty insurance. The Hartford's Internet address is www.thehartford.com.  Back to Top

4. MERL HOLDINGS INC.COM RECEIVES $50 MILLION PROPOSAL FROM PRIVATE EQUITY FUND

MERL Holding Inc.com ("MRLE") announced today that it has received a $50 million proposal from a private equity fund with Capital Group International (CGI), acting as the financial advisor on this proposal. This proposal is geared to help establish and implement the Company's Business Plan. If MERL accepts the proposal, MERL will use these funds to establish the reserve requirement for JULICO Inc., its insurance subsidiary, pay off current debt obligations and help support the software it has licensed to Heritage Capital Credit Corporation ("HCCC"), which is establishing a nationwide network of hybrid ATM and kiosk structures ("Virtual Financial Centers").

The Plan calls for the installation of 1,800 Virtual Financial Centers by 2006. MERL has not yet accepted the proposal and has not yet signed any documentation regarding the proposal. MERL can give no assurances that it will receive funds from any other financing proposal. MERL requires significant capital to implement its Business Plan.

MERL Holdings Inc.com (MERL Holdings), a holding company organized on May 3rd, 1994, trades on the OTC under the symbol "MRLE". The Company operates through three subsidiaries JULICO Inc., FirstAccess Partners(SM), Inc., and MERL School Stores. The Company is going through a reorganization whereby MERL Holdings will spin off MERL School Stores as property dividends to shareholders. Following restructuring, the Company will continue to hold JULICO and FirstAccess, a consumer specialty software company that provides an electronic platform links insurance and loan products. www.capitalfund.net  Back to Top

5. ACORDIA, INC. ACQUIRES AGENCIES IN TEXAS, NEBRASKA AND PENNSYLVANIA

CHICAGO, September 8, 2003 - Acordia, Inc., America’s largest bank-owned insurance brokerage and a subsidiary of Wells Fargo & Company (NYSE:WFC), acquired Wisenberg Insurance + Risk Management in Houston, Texas, the assets and business of McDermott Brokerage, Inc., in Omaha, Neb. and the assets and business of Goodritz-Emanuel Insurance in Bala Cynwyd, Pa. All three acquisitions closed September 1, 2003. Terms of the transactions were not disclosed.

“Acordia has built its reputation in the insurance brokerage world by acquiring retail brokerage operations around the country and also growing market share by seeing to satisfy all its customer’s insurance needs,” said Kevin W. Conboy, President and CEO of Acordia, Inc. “Combining our national resources with great agencies like Wisenberg, McDermott and Goodritz-Emanuel enables us to meet the financial needs of a whole new group of customers.” Conboy said Acordia will continue to look for acquisition opportunities that fit its operating philosophy and that expand Wells Fargo’s reach both inside and outside its 23 banking states.

Acordia, Inc., headquartered in Chicago, Ill., is the world’s sixth largest insurance brokerage and the largest bank-owned insurance broker in the U.S., with 147 offices in 38 states. Its 4,500 insurance professionals place in excess of $6.5 billion of risk premiums with expertise in property, casualty, benefits, international, personal lines and life products. Acordia is a subsidiary of Wells Fargo & Company, a $370 billion diversified financial services company.

Acordia is also a member of the HLA Global Network. HLA Global, a partnership between London-based Heath Lambert Group and Acordia, Inc., serves as the international arm of Acordia. HLA Global is one of the world’s largest networks of insurance brokers, with independent brokers in over 90 nations across the world including Europe, Asia, Australia, the Middle East and Africa. For more information about Acordia, visit www.acordia.com or call 312.423.2531.

Significant Acquisitions Since May 1, 2001

• H&R Phillips, Inc. New York December 2001
• Risk Management Services, Inc. Tennessee December 2001
• Alcalay Cohen, Inc. d/b/a General Insurance California February 2002
• Daniel Nowels Agency Colorado November 2002
• Pate Insurance Agency Alaska January 2003
• RMC2 Illinois & Florida July 2003
• Care Insurance Services Nebraska August 2003
• Wisenberg Insurance + Risk Management Texas September 2003
• McDermott Brokerage Nebraska September 2003
• Goodritz-Emanuel Pennsylvania September 2003  Back to Top

6. ABD INSURANCE AND FINANCIAL SERVICES OFFERS BUSINESS RESOURCES FOR COPING WITH WORKERS COMPENSATION INSURANCE ISSUES

REDWOOD CITY, CA 9/5/03 ABD Insurance and Financial Services, a leading provider of global risk management and employee benefits solutions, has created a unique Workers' Compensation Center on its CyberSure website in order to educate and assist California employers and respond to media inquiries on the subject.

The online offering is the newest part of ABD's ongoing "Answers Not Excuses" business information campaign. Delivered via seminars, articles and white papers from ABD's experienced professionals and extensive information gathering and management, the Answers Not Excuses campaign helps ABD clients and the business public in general make effective risk management, insurance and financial decisions in today's challenging insurance and economic environment. The latest addition to ABD's Workers' Compensation Center is a contribution by Dave Hock, Senior Vice President, entitled "Back to the Future-Reforming California's Workers' Compensation System."

"There are two major intermediary cost drivers that continue to dominate the California workers' compensation system: excessive litigation and the utilization and cost of medical care, said Hock. "Both must be effectively controlled to return some balance and equity to our system." The full article and additional information is available at: http://www.cybersure.com/InsuranceTopics.asp?DocId=3379 

A second white paper by Hock, "Only the Strong Survive: Managing Workers' Compensation Costs - the Fundamentals Still Apply" is also available and offers practical tips on creating and sustaining the most cost effective workers' compensation program possible. www.abdi.com   Back to Top

7. ACE LIMITED MAKES ANNOUNCEMENT

ACE Limited (NYSE:ACE) said today that its global headquarters, which are located in Hamilton, Bermuda, were undamaged by the effects of Hurricane Fabian and will be open for business as of Monday, September 8. Hurricane Fabian, a Category 3 system with winds in excess of 140 miles per hour, passed directly over Bermuda on Friday, September 5, causing loss of life and widespread, significant property damage. www.acelimited.com  Back to Top

8. GERMAN AMERICAN BANCORP ACQUIRES HOOSIERLAND AND STAFFORD WILLIAMS INSURANCE AGENCIES

German American Bancorp (Nasdaq:GABC) announced today that it has purchased two property and casualty insurance agencies effective September 2, 2003: Hoosierland Agency based in Jasper, Indiana and Stafford Williams Agency based in Washington, Indiana. The addition of these agencies represents approximately a 50% increase in the Company's property and casualty insurance commission revenues with total annual insurance revenues now expected to exceed$4 million. Both agency operations will become part of The Doty Agency, Inc., the Company's property and casualty insurance entity.  Back to Top

9. AIG ANNOUNCES OPENING OF NEW DATA CENTER FACILITY IN FORT WORTH

American International Group, Inc. (AIG) today announced the opening of a new 200,000 square foot data center facility in Forth Worth, Texas by American International Group Data Center, Inc., which will provide data recovery capabilities to AIG member companies. "This new facility provides AIG companies with the enhanced data recovery and business continuity capabilities that are crucial components of managing the infrastructure needs of our global business," said Mark Popolano, Vice President and Chief Information Officer, AIG. The Fort Worth data center utilizes innovative data storage and replication technologies to manage data across the network and improve recovery time. The data center also features an extensive telecommunications infrastructure to support AIG companies' business operations, including redundant Internet connectivity and a global e-messaging platform. http://www.aigtechnologies.com   Back to Top

10. JOHN HANCOCK SELECTS IBM FOR ON DEMAND INFRASTRUCTURE; IBM'S PAY-AS-YOU-GO, RESILIENT INFRASTRUCTURE LETS JOHN HANCOCK FOCUS ON CORE BUSINESS

BOSTON & ARMONK, N.Y., Sept. 5, 2003 John Hancock Financial Services, Inc. has selected IBM to build an on demand technology infrastructure that will allow the company to accommodate unplanned surges in customer demand while improving reliability, the companies announced today. Under the six-year, $254 million agreement, IBM will deploy leading-edge technology that continuously monitors performance to prevent service disruptions to John Hancock's multi-channel distribution system supporting insurance agents, banks, insurance brokers, broker/dealer firms and other intermediaries. The integrated IBM environment of mainframes, servers, desktop PCs as well as voice and data networks will increase or decrease capacity according to need. In addition, John Hancock is moving from a fixed cost infrastructure to a model where it pays only for the systems and technology it uses.

The relationship with IBM will enable the company to focus on its core financial services business, according to John Hancock officials. "Today's financial markets are characterized by huge swings in volume and heavy reliance on technology," said Bob Walters, John Hancock executive vice president & CIO. "To this environment, IBM brings a peerless understanding of how computers and networks can drive business growth." "By selecting IBM's on demand infrastructure, John Hancock has once again placed itself at the forefront of a powerful business trend," said Philip Guido, general manager of IBM's financial services sector. "The company's vision of a flexible, scalable, resilient infrastructure will benefit its customers in a major way."

John Hancock Financial Services, Inc. (NYSE: JHF) and its subsidiaries, with $127.6 billion in assets under management as of December 31, 2002, provide a wide range of insurance and investment products and services to individual and institutional customers.

IBM Global Services is the world's largest information technology services and consulting provider, generating over $36 billion in 2002. Approximately 180,000 professionals serve customers in more than 160 countries, providing the entire spectrum of customers' e-business needs -- from the business transformation and industry expertise of IBM Business Consulting Services to hosting, infrastructure, technology design and training services. IBM Global Services delivers integrated, flexible and resilient processes -- across companies and through business partners -- that enable customers to maximize the opportunities of an on-demand business environment. CONTACT: IBM Global ServicesJohn Buscemi, 914-766-4495 jbuscemi@us.ibm.com  URL: http://www.businesswire.com  Back to Top

11. SEDONA CORPORATION SELECTS AUDITORS; SIGNS ENGAGEMENT LETTER WITH MCGLADREY & PULLEN, LLP

KING OF PRUSSIA, Pa., Sept. 5, 2003 SEDONA(R) Corporation (OTCBB:SDNA) (www.sedonacorp.com), the leading provider of web-based Customer Relationship Management (CRM) solutions for small and mid-sized financial services organizations, today announced that it has retained the services of McGladrey & Pullen, LLP, a member firm of RSM International, as independent auditors for the Company. McGladrey & Pullen provides accounting and auditing services, while RSM McGladrey Inc. handles tax and consulting services, to middle-market companies. Both companies are U.S. members of RSM International, the world's sixth largest accounting and consulting organization with more than 600 offices in 75 countries. International Accounting Bulletin ranks McGladrey & Pullen, together with RSM McGladrey, as the fifth largest professional services firm in the nation. www.sedonacorp.com  Back to Top

12. PATRIOT BANK CORP. ACQUIRES TYLER WEALTH COUNSELORS, INC.

Patriot Bank Corp. (NASDAQ: PBIX), parent company of Patriot Bank, today announced it has acquired Tyler Wealth Counselors, Inc., a wealth management firm headquartered in West Chester, Pennsylvania. Founded in 1988, Tyler Wealth Counselors, Inc., is a registered investment advisory firm, providing investment advisory and financial planning services to high net-worth individuals and families. Tyler Wealth Counselors, Inc., has been merged into Patriot Advisors, a division of Patriot that provides a full range of wealth and investment management services as well as certain employee benefits, brokerage and life insurance services.  Back to Top

13. ADVANCEPCS RENEWS MULTIYEAR CONTRACT WITH HEALTH NET INC.; AGREEMENT COVERS 5.3 MILLION MEMBERS

AdvancePCS (Nasdaq: ADVP), the nation's leading health improvement company, today announced it has signed a renewal agreement to provide pharmacy claims processing services to the approximately 5.3 million members of Health Net Inc. The California-based company provides health benefits to members in 15 states. Under terms of the three-year contract, which is effective April 1, 2004, AdvancePCS will provide claims processing services to Health Net members via its superior information technology linked to more than 58,000 chain and independent pharmacies throughout the nation. This system processes at the point of sale more than 500 million retail and mail order prescriptions annually. AdvancePCS' proprietary system continuously works to ensure the safety of plan members by alerting pharmacists to potentially harmful or deadly prescribing situations. www.health.net www.advancepcs.com  Back to Top

14. MARSH&MCLENNAN FILES $3 BLN MIXED SHELF OFFER

WASHINGTON, Sept 5 (Reuters) - Insurance broker Marsh & McLennan MMC.N filed with U.S. regulators on Friday to sell over time up to $3 billion worth of common stock, preferred stock and debt securities. The world's No. 1 insurance broker said it planned to use proceeds from the sale for general corporate purposes including working capital, acquisitions, debt retirement and other business opportunities, according to the Securities and Exchange Commission filing. Under such a filing, a company may sell securities from time to time in one or more separate offerings in amounts, at prices and on terms to be determined at the time of the sale.  Back to Top

15. OUT-OF-FAVOR MINNESOTA INSURER IS SLOWLY REVIVING - BARRON'S

NEW YORK, Sept. 7 (Reuters) - Shares of St. Paul Cos. Inc., a Minnesota-based insurer, could be poised to rise as the company's outlook appears to be slowly reviving, according to a report in Barron's. The report in the Sept. 8 edition of the financial weekly said the insurer's shares "could be a good bet for patient investors" because they are quoted at little more than eight times expected 2004 earnings. St. Paul's shares could easily surpass $40 in 12 months, according to analysts cited by Barron's. The stock closed at $35.41 on Friday on the New York Stock Exchange. The report said St. Paul has been out of favor with investors, particularly because of an unexpectedly large asbestos-legacy settlement last year involving a client of a recently acquired affiliate. But Barron's said the risks facing St. Paul, and its $6.3 billion in loss reserves, stem from policies for reinsurance, asbestos and medical malpractice coverage written or acquired before Jay Fishman became its chief executive in late 2001. Under Fishman, St. Paul's is pulling back from these sectors, according to the report.  Back to Top

16. CWA SETTLEMENT WITH VERIZON MEETS GOALS OF PRESERVING JOB SECURITY AND HEALTH BENEFITS; INCREASES WAGES AND PENSIONS FOR 60,000

The Communications Workers of America today announced a tentative 5-year collective bargaining settlement with Verizon Communications that meets the union's key goals of protecting members' job security rights, health care and other benefits and provides fair wage and pension improvements. The agreement, subject to member ratification, covers 60,000 workers in the company's Northeast and Mid-Atlantic operations in 12 states and the District of Columbia. A similar settlement was announced by the International Brotherhood of Electrical Workers representing another 18,000 Verizon employees.

The agreement preserves the existing contract provisions protecting workers against layoffs and against the transfer of their work out of communities in the region -- key issues for union members. Health care premiums remain fully paid by the company for both active workers and retirees, which was another major CWA goal. The agreement calls for some increases in deductibles and co-payments for medical care and prescription drugs, but as a percentage of Verizon's total health care costs, employees' contributions, now 5.6 percent, will be the same or slightly less by the end of the contract.

Among health coverage improvements, a new PPO arrangement will be integrated with the existing indemnity plans, allowing workers to choose more cost-efficient providers. This will mean lower costs for many workers and substantial savings for the company. The pact also calls for improvements in preventative medicine, dental coverage, infertility treatment, hearing aid reimbursement and other areas.  Back to Top

17. NEWS FROM USWA: SOLIDARITY COUNCIL CONDEMNS ASARCO CUTS ON RETIREE HEALTH INSURANCE; SUPPORTS LEGAL ACTION, ANNOUNCES CAMPAIGN FOR JUSTICE

The United Steelworkers of America (USWA) announced today that the Solidarity Council for Justice, a coalition of trade unions and supporters, will rally on the steps of the Tucson Federal Court House today to express outrage at ASARCO's recent decision to unilaterally modify health insurance for hundreds of ASARCO retirees, contrary to long-standing labor agreements, decades of bargaining history between the company and its unions, and employee protection laws according to the USWA.

The rally will coincide with the filing of a federal class-action legal complaint at the U.S. District Court in Phoenix, Ariz. by the USWA, the International Brotherhood of Electrical Workers, the International Chemical Workers Union Council of the United Food & Commercial Workers (who represent ASARCO retirees in Corpus Christi, Tex.), and individual retirees.

The complaint, filed by attorney Mike Keenan who will address the rally, will request "That the Court declare that the company violated its obligations under the (health insurance) Plan and labor agreements ... (and) That the Court order the Company to perform its contractual and statutory obligations under the Plan and labor agreements ..." It will also allege violations of employee protection laws and request appropriate relief.

The rally will feature elected officials -- including a representative from the office of Arizona Gov. Janet Napolitano, a representative from the office of U.S. Representative Raul Grijalva, Arizona State Sen. Peter D Rios, Pima County Supervisor Richard Elias, and Tucson City Council members Steve Leal and Jose Ibarra. Also, Arizona State AFL-CIO Sec.-Treas. Michael McGrath and USWA SOAR (Steelworkers Organization of Active Retirees) Coordinator Celestino Torres will speak.

The Solidarity Council for Justice was founded by union locals from eight unions that represent thousands of workers throughout the ASARCO/Grupo financial/industrial empire. They include: the USWA; the Operating Engineers; the IBEW; the International Brotherhood of Teamsters; the United Brotherhood of Carpenters and Joiners of America; the International Association of Plumbers, Pipefitters, Service Technicians, Sprinklermakers and Steamfitters Union; the International Brotherhood of Boilermakers, Shipbuilders and Blacksmiths; and the International Assn. of Machinists and Aerospace Workers. All are affiliates of the AFL-CIO.

ASARCO Inc. is a wholly-owned subsidiary of Grupo Mexico, SA -- a complex of holding companies and mining interests dominated by the billionaire Larrea family of Mexico City, Mexico. Also, the Phelps Dodge Corp., based in Phoenix, Ariz., and the Pritzker family of Chicago, Ill. -- billionaire owners of the Hyatt House Hotel chain and other financial interests -- have significant investments in the network of Grupo Mexico properties and holding companies.   Back to Top

18. THE BENEFIT NETWORK'S LEAD GENERATION WEBSITE RECOGNIZED BY THE GOLDEN WEB AWARDS

Barrington, Illinois - September 7, 2003 In recognition of the excellence and uniqueness of its in-house designed website (www.thebenefitnetwork.com, the relatively new lead generation firm - The Benefit Network - won the Golden Web Awards presented by The International Association of Web Masters & Designers (I.A.W.M.D.). The Golden Web Award is presented to those sites whose web design, originality and content have achieved levels of excellence deserving of recognition. The Benefit Network is happy to receive this prestigious award two years in a row.

Chris Curie, the General Partner at The Benefit Network said: "We are happy to crown our efforts with this reputable award, which makes us aim for no less when designing websites for our clients". Web design is not their only strength, The Benefit Network shares this website with local insurance agents who promote the concept of researching voluntary benefits on-line. If a prospect fills out an inquiry for voluntary programs, the inquiry is routed back to the local agent on an exclusive basis if agents have filled out an application on the partnership link. The Benefit Network operates an office in Barrington, Illinois.  Back to Top

19. LEGISLATION REPORT

U.S. Supreme Court's Decision Could Impact Quality of Nursing Home Patient Care
California tackles troubled workers comp system

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20. PERSONNEL ANNOUNCEMENTS

Chubb Names O'Reilly CFO
Robert W. Sumrall Joins New York Life As Field Director
Jewelers Mutual announces new VP of Claims
State Auto Financial and State Auto Mutual Elect New Directors
ACE Westchester Specialty Group Forms New Professional Risk Division; David Lupica Appointed Executive Vice President
Sirach Capital Management Names Valerie Kampe Principal, Portfolio Manager
Carl Gilmore of Preston Gates & Ellis LLP Elected to the Board of the Foundation of the Federal Bar Association

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21. RATING RELEASES

Moody's Reports: Negative Outlook For Global Reinsurance Industry Prompted By Adverse Reserve Developments And Weak Capital Generation
S&P: Global Reinsurance: Calmer Waters Ahead?
S&P: IFRS Brings Pain Before Gain for Europe Insurers
Moody's Places Syndicate Performance Rating Of Brit Lloyd's Syndicate 389 On Review
Moody's Confirms Aaa Ratings United Guaranty Residential Insurance Company And Certain Affiliates; Outlook Is Negative
Moody's Places Atlantic Mutual's Ratings On Review For Possible Downgrade
S&P Downgrades Royal & SunAlliance USA Group Members
Fitch Affirms CUNA Mutual Group's Ratings; Outlook Stable
Sankaty High Yield Partners II, L.P. Affirmed By Fitch Ratings
S&P Assigns Preferred Stock Rtg to LNC
S&P Puts 4 Royal Indemnity-Dep CMBS Rtgs on Wtch
S&P Puts 5 NOVA CDO 2001 Ltd Rtgs on Watch;1 Rtg Afmd

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