Applied Insurance Research Cancels Boston Users' Conference.

Business/Technology Editors

BOSTON--(BUSINESS WIRE)--Sept. 14, 2001

Applied Insurance Research (AIR) announced today that it is canceling its 2001 Software Users' Conference originally scheduled to be held in Boston on October 1-2. "Many of our clients and their families were victims of the World Trade Center tragedy," said AIR president and CEO Karen Clark. "The decision to cancel this year's Boston conference was made out of deference to their grief, which we all share. It is also likely that travel will remain difficult for some weeks to come, as will the ability to focus on anything but the enormous recovery effort underway."

Full refund of registration fees will be made to all clients who are currently registered for the event. AIR indicated that conference binders would be shipped along with refund checks once postal services have been fully restored.

AIR's 2002 Spring conference (April 23-25 in San Diego, California) will be expanded to cover selected Software Users' Conference topics. AIR currently plans to host, as scheduled, its upcoming European Software Users' Conference to be held in Estoril, Portugal on 11-12 October, 2001.

Applied Insurance Research is the technological leader in providing catastrophe modeling services and computer software solutions (CLASIC/2(TM), CATRADER(R) and CATMAP(R)/2) to the insurance, reinsurance and capital markets. AIR's models simulate losses from natural catastrophes such as hurricanes, hail, tornadoes, other windstorms, flood and earthquakes in over 30 countries. Offices are located in Boston, London, Seattle, Hyderabad and San Francisco. The company's Web address is www.air-worldwide.com.