Alliant Resources Group Acquires Affinity Insurance Services, LLC.

Business Editors

STAMFORD, Conn.--(BUSINESS WIRE)--May 30, 2002

Specialty Insurance Broker With Native American Tribal Focus Joins

West-Coast Operations of National Insurance and Financial Services 

Distributor

Adding a specialty capability to its national operations, Alliant Resources Group, Inc. (Alliant), today announced the acquisition of California-based Affinity Insurance Services, LLC (Affinity), a full-service property and casualty agency focusing in property, liability and workers compensation insurance coverage for Native American tribal and casino gaming operations. Specific terms of the deal have not been disclosed.

Alliant, an integrated distributor of insurance brokerage and financial services aimed primarily at middle market clients, has pursued a national acquisition strategy, acquiring leading firms to anchor or augment regional operations throughout the United States. Prior to Affinity, Alliant acquired San Diego-based Driver Alliant Insurance Services, Inc., formerly Robert F. Driver Co., Inc., one of the oldest and largest independent brokerage firms in California. Affinity will now operate as part of the Driver Alliant group of companies.

Headquartered in San Diego, CA, Affinity is the leading program insurance broker for the placement of Native American tribal and casino gaming operations insurance. In addition, Affinity is a recognized leader in the area of tribal sovereignty, offering innovative insured and self-insured solutions for Native American tribes through its Tribal First products and services (www.tribalfirst.com). The Tribal First program has grown to over 170 tribal clients, representing over 95 Native American tribes.

"The Affinity acquisition adds a new and exciting capability to Alliant's current operations," said Alliant Chief Executive Officer John Addeo. "Under the direction of Affinity's existing management team, we look to Affinity as part of the Driver Alliant operations to provide enhanced capabilities and coverage expertise required to compete effectively in a unique marketplace."

According to Affinity President Sean McConlogue, "The partnership with Alliant and the Driver Alliant organization enables Affinity to focus on its core business while taking advantage of the increased resources and distribution channels of the Alliant Resources Group."

Affinity will continue operating as an autonomous company, reporting to the Driver Alliant group of companies. Sean McConlogue, Glen Chapin, and Robert Haukom will continue in their existing roles at Affinity.

"Affinity brings a unique specialty dimension to Driver Alliant's core capabilities," said Tom Corbett, CEO of Driver Alliant Insurance Services, Inc. "We look forward to a mutually rewarding partnership in which shared knowledge and resources lead to unprecedented growth."

Alliant is aggressively pursuing additional acquisitions and strategic partnerships throughout the country.

About Alliant Resources Group, Inc.

Alliant is an integrated national distributor of insurance and financial services products, reaching a broad base of middle market clients through a growing network of operating companies.

Founded by John Addeo and equity partner GTCR Golder Rauner, Alliant was incorporated in Delaware in November 1999. The company began operations in March 2000 when it acquired Ronkonkoma, NY-based Mutual, Inc. and Norwalk, Conn.-based Oldham Resource Group, Inc., financial services providers to 403(b) participants. In June 2001, Alliant acquired Robert F. Driver Co., Inc. a multi-line insurance brokerage company that provides property and casualty, workers compensation, employee benefits and surety products and various financial services to a broad range of clients. Driver was ranked 28th nationally by Business Insurance based on 2000 revenues. In January 2002, Kelter-Thorner, Inc., a property and casualty insurance agency specializing in lawyers professional liability and real estate industry coverages became part of the Alliant Resources Group of companies.

Alliants's business plan contemplates rapid expansion over the next several years through the selective acquisition of high-quality regional insurance brokerage firms that possess strong management teams and demonstrated records of growth, profitability and quality service. Strong sales management as well as cross selling of insurance products are key components of Alliant's marketing strategy.

About GTCR Golder Rauner, LLC

GTCR is a Chicago-based private equity firm currently managing over $4 billion in equity and subordinated debt capital. Founded in 1981, GTCR is one of the most highly respected private equity firms in the country. GTCR's investment approach is to provide capital to experienced management teams to grow their business internally and through acquisition in fragmented and consolidating industries. GTCR currently has approximately 65 portfolio company investments primarily in the business services sector of the economy.

For more information about Alliant Resources Group, please contact Alliant CEO John Addeo directly at [phone] or log on to www.alliantresourcesgroup.com.

For more information about GTCR Golder Rauner, please contact Joseph Nolan at [phone].