ProCentury Files Statement for IPO

December 22, 2003

Columbus, Ohio-based ProCentury Corporation (ProCentury) announced it has filed a registration statement with the Securities and Exchange Commission for an initial public offering of its common shares.

ProCentury is a specialty property and casualty insurance holding company that markets and underwrites general liability, commercial property and multi-peril insurance for small and mid-sized businesses.

The sole managing underwriter for the offering is Friedman, Billings, Ramsey & Co. Inc. When available, a written preliminary prospectus related to the offering may be obtained from Friedman, Billings, Ramsey & Co., Inc., 1001 19th Street North, Arlington, Va. 22209.

ProCentury is the parent company of Century Insurance Group which is headquartered in Columbus, Ohio, with a regional office in Phoenix, Ariz.

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