Arch Capital Group Ltd. Announces Additional Share Purchase by Hellman & Friedman.Business Editors HAMILTON, Bermuda--(BUSINESS WIRE)--March 4, 2003 Arch Capital Group Ltd. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ACGL ACGL Arch Capital Group Ltd. ACGL Automobile Corporation of Goa Limited ACGL Alternative County Government Law ) today announced that private equity investment funds associated with Hellman & Friedman, principal investors in the Company, agreed to purchase from an existing shareholder an additional 1,131,065 convertible preference shares and 488,935 common shares of the Company. Following the purchase, which is expected to close on March 20, 2003, Hellman & Friedman investment funds will own approximately 20% of the Company's common shares on a fully-diluted basis (assuming the exercise of all outstanding preference shares, stock options and warrants). Jack Bunce n. 1. a sudden unexpected piece of good fortune. Noun 1. bunce - a sudden happening that brings good fortune (as a sudden opportunity to make money); "the demand for testing has created a boom for those unregulated laboratories where boxes of , a Managing Director of Hellman & Friedman, said, "We are very pleased to have the opportunity to increase our investment in Arch Capital. The Company has made tremendous progress in establishing itself as a significant provider of insurance and reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. , and market conditions continue to be extremely favorable." About Arch Capital Group Ltd. Arch Capital Group Ltd., a Bermuda-based company with over $1.4 billion in equity capital, provides insurance and reinsurance on a worldwide basis through its wholly owned subsidiaries. About Hellman & Friedman LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control Hellman & Friedman LLC is a San Francisco-based private equity investment firm. Since its founding in 1984, the firm has raised and managed more than $4.9 billion of committed capital and invested in over 40 companies. The firm's strategy is to invest in superior business franchises and to be a knowledgeable, value-added, and flexible investor in select industries such as financial services, media, professional services, information services See Information Systems. and communications. Representative investments include Mid Ocean Reinsurance; The Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. , Inc.; Franklin Resources, Inc.; Young & Rubicam, Inc.; Formula One Holdings, Ltd.; Western Wireless Corporation (Nasdaq: WWCA WWCA Western Wireless Corporation (stock symbol) WWCA Western Washington Center for the Arts ); VoiceStream Wireless Corporation; Eller Media Company, Inc.; and others. For more information on Hellman & Friedman, visit www.hf.com. Cautionary Note Regarding Forward-Looking Statements The Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 provides a "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " for forward-looking statements. This release or any other written or oral statements made by or on behalf of the Company may include forward-looking statements which reflect the Company's current views with respect to future events and financial performance. Forward-looking statements involve the Company's current assessment of risks and uncertainties, including statements regarding anticipated future financial results and prospects for the insurance and reinsurance markets generally. Actual events and results and prospects for the insurance and reinsurance markets may differ materially from those expressed or implied in these statements. In addition to risks and uncertainties related to the Company's business described in filings by the Company with the Securities and Exchange Commission, the items addressed in this release are subject to various risks and uncertainties including, but not limited to, the risks relating to the successful integration of new management personnel into the Company's existing structure and conditions in the insurance and reinsurance markets. The foregoing review of important factors should not be construed as exhaustive and should be read in conjunction with other cautionary statements that are included herein or elsewhere. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. |
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