Argonaut Group CEO to Present June 24th at William Blair & Company Growth Stock Conference in Chicago.

SAN ANTONIO -- Argonaut Group, Inc. (Nasdaq: AGII) said today it is participating in William Blair & Company's 24th Annual Growth Stock Conference being held June 22-24, 2004 at the Four Seasons Hotel in Chicago. Argonaut Group President and CEO Mark E. Watson III is scheduled to address the conference's audience of institutional money managers at 9:10 a.m. CDT on Thursday, June 24, 2004.

Mr. Watson's presentation to the conference can be accessed via real-time audio webcast by visiting Argonaut Group's home page at www.argonautgroup.com. A replay of the presentation will be available on the company's Web site through July 30, 2004.

ABOUT ARGONAUT GROUP, INC.

Headquartered in San Antonio, Argonaut Group, Inc. (NASDAQ: AGII) is a national underwriter of specialty insurance products in niche areas of the property & casualty market. Argonaut Group's assets totaled approximately $2.8 billion at March 31, 2004. Through its operating subsidiaries, Argonaut Group offers high quality customer service in programs tailored to the needs of its customers' business and risk management strategies. Collectively, Colony Insurance Company, Rockwood Casualty Insurance Company, Argonaut Insurance Company, Argonaut Great Central Insurance Company and Trident Insurance Services underwrite a full line of products in four primary areas: Excess and Surplus Lines, Risk Management, Specialty Commercial and Public Entity. Information on Argonaut Group and its subsidiaries is available at www.argonautgroup.com.