ABS Group of Companies Inc. Acquires EQE International Inc., a Leading Risk Management Firm.

HOUSTON--(BUSINESS WIRE)--Nov. 30, 1999--

ABS Group of Companies Inc., announced today it has signed an agreement to acquire EQE International Inc., the leading independent provider of risk management information, software, consulting and engineering services to industry, governments and business. Headquartered in Oakland, Calif., EQE International employs over 550 staff, located in 33 offices around the world.

ABS Group of Companies Inc. is headquartered in Houston and operates through a number of subsidiaries worldwide to provide integrated safety, quality and environmental management solutions to clients in the petrochemical, utility, offshore, marine and insurance sectors.

The acquisition of EQE International is part of an aggressive business strategy adopted by ABS Group to become the world's leading organization dedicated to managing risk by improving the safety, enhancing the quality and minimizing the environmental impact of its clients' activities.

According to ABS Group Chairman and CEO Frank J. Iarossi, "The acquisition of EQE International will enhance ABS Group's ability to respond to the growing need of our clients to identify, assess and mitigate operational and environmental risks."

Shareholders, financial institutions and insurers expect companies to quantify, manage and mitigate the risks of their operations in a responsible manner. "The technology-driven approach developed by EQE towards managing natural, human and technological risks provides a template for improving safety and mitigating loss," added Iarossi.

EQE International ( http://www.eqe.com ) is one of the largest and most respected risk management and information companies in the world. It was founded in 1981 to provide catastrophic risk management consulting, design and research services to the commercial, utility, nuclear and high technology industries. Since that time it has extended its services to other industries, in particular insurance, finance, oil and gas and transportation. EQE offers risk consulting, information and software based on a solid scientific and engineering foundation.

"EQE complements the already impressive array of safety, quality and environmental services offered by ABS Group," said Douglas Frazier, chairman and CEO of EQE International. "Our extensive proprietary databases, market leading software and expertise in safety, risk quantification and risk mitigation, dovetail seamlessly with ABS Group's growing global activities," he said.

"EQE's strong position in the insurance and financial services industry complements the safety and environmental solution capability offered by ABS Group," said Peter I. Yanev, president and co-founder of EQE International.

ABS Group Inc. has doubled in size in the past year through rapid internal growth combined with strategic acquisitions in the risk management and training sectors. In 1998 ABS Group acquired JBF Associates Inc. of Knoxville, Tenn., a specialist in risk, reliability and process safety.

ABS Group of Companies Inc., ( http:// www.abs-group.com ) is an affiliate of ABS, one of the world's largest providers of classification services to the international marine and offshore industries.