Philadelphia Consolidated Holding Corp. Reports Impact from Charley

August 26, 2004

Philadelphia Consolidated Holding Corp. reported its initial estimate
of losses attributable to Hurricane Charley. Although potential claims information is preliminary, the company does not expect its net after-tax losses to exceed $6.8 million.

The company further announced that the catastrophe losses due to Hurricane Charley impacted both its personal lines mobile homeowners and homeowners book of business and its commercial lines property book of business.

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