UNG Appoints Singleton to Board

April 12, 2004

United National Group Ltd. announced the appointment of Professor Kenneth Singleton to its Board of Directors, increasing the number of board members from nine to 10.

Singleton, the C.O.G. Miller Distinguished Professor of Finance at the Graduate School of Business, Stanford University, since 1987, is an expert in the areas of econometrics and credit risk modeling and analysis. Singleton is a fellow of the Econometric Society and is a prolific contributor to and has served as editor of various scholarly financial journals and publications.

Singleton was appointed by the Board to its Audit Committee, and constitutes the third independent director on the Audit Committee, effective April 1, 2004, joining Messrs. John Hendrickson, a director on the Board of Directors since December 2003 and a Managing Director with Fox-Pitt, Kelton Inc., the investment banking subsidiary of Swiss Re, and Edward Noonan, also a director since December 2003 and the former president and CEO for American Re-Insurance.

United National Group Ltd. is a holding company formed under the laws of the Cayman Islands that, through its wholly owned operating subsidiaries, is a specialty property and casualty insurer with a 44-year operating history in the specialty insurance markets.

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