20th Century Industries to Remain in Warner Center; 20th Century Plaza Project to Serve as Company Headquarters through 2014.

WOODLAND HILLS, Calif.--(BUSINESS WIRE)--April 9, 1998--20th Century Industries (NYSE:TW), the Woodland Hills-based insurance holding company, Thursday announced it has signed an agreement with Tishman International Companies to become the primary tenant of the new 20th Century Plaza project to be completed in late 1999 as part of the company's existing headquarters in the Warner Center area of Woodland Hills.

"Our aggressive growth throughout California and Arizona, coupled with our recent strategy to expand into the three additional states of Nevada, Oregon and Washington, resulted in a need for additional headquarters space," said William L. Mellick, president and chief executive officer of 20th Century.

"Tishman's development is providing us with an ideal opportunity to centralize nearby operations in an effort to further improve our overall efficiencies for our more than 1 million customers."

Tishman's 20th Century Plaza project, which will serve as 20th Century's headquarters through at least 2014, is the first significant office building project in Woodland Hills since 1991. As part of its goal to maintain centralized operations, 20th Century will incorporate five nearby Warner Center offices into the Plaza, retaining, in total, approximately 1,200 jobs locally and provide for future growth.

Companywide, 20th Century employs more than 2,200 people. The Plaza project also will provide on-site parking for employees and the public, and will include a landscaped common area between its two buildings.

"The 20th Century Plaza project is a significant reflection of both the strength of the Los Angeles real estate market and of the resurgence of 20th Century Industries," said Alan D. Levy, chairman of Tishman International. "We are pleased to be a part of the continued growth of both entities."

"A top priority during our 10-year corporate headquarters search was the potential impact on our employees," said William G. Crain, vice president, administrative services of 20th Century Industries. "Today's announcement sends a very clear message to our employees that 20th Century will remain in the San Fernando Valley well into the next century."

The agreement also calls for refurbishments to Tishman's existing building, which 20th Century has occupied as its home office since 1980. The entire Plaza project is scheduled to commence later this year and will provide 20th Century with up to 500 thousand square feet of office space.

James N. Travers and George C. Katunich, of Travers Realty Oncor International, represented 20th Century on real estate matters and David P. Kasoy, of Ervin, Cohen and Jessup L.L.P. of Beverly Hills, represented the company on legal issues.

20th Century Industries is the fifth-largest private passenger automobile insurer in California and the eighth-largest publicly held personal automobile insurer in the United States. Founded in 1958, the company is traded on the New York Stock Exchange under the trading symbol TW. The company's wholly owned subsidiaries, 20th Century Insurance Company and 21st Century Casualty Company, market personal automobile and personal excess liability insurance.

Both insurance subsidiaries sell directly to consumers without agents. 20th Century Industries has headquarters at 6301 Owensmouth Ave., Woodland Hills, Calif. 91367; 818-704-3514. 20th Century's address on the Internet is www.20thCenturyInsurance.com

CONTACT: 20th Century Industries, Woodland Hills

Ric Hill, 818/704-3514

or

Frank Moore, 213/629-4974