The Seibels Bruce Group Notes Investment in Homeowners Insurance Co.

December 8, 2003

South Carolina-based The Seibels Bruce Group, Inc. has made an investment of $2,500,000 and received a 20 percent ownership interest in the holding company for a newly formed homeowners insurance company domiciled in the state of Florida.

In connection with this investment, the company will provide exclusive claims administration and underwriting management services to the new insurance company.

The Seibels Bruce Group, Inc. is a holding company for four property and casualty companies that offer commercial, nonstandard automobile and homeowners insurance. In addition, Seibels Bruce offers claim administration services to insurance companies and other businesses through INS; flood zone determination services through America’s Flood Services, Inc.; and managing general agency services through Seibels, Bruce & Company.

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