Brera Capital Acquires GAB Robins From SGS Societe Generale de Surveillance; Purchase Gives Brera Ownership of A Premier Global Insurance Services Company.

NEW YORK--(BUSINESS WIRE)--Sept. 17, 1999--

Brera Investment Will Allow GAB Robins To Expand Upon Core Strengths in Loss Adjustment, Third-Party Administration & Medical Cost Containment Services

Brera Capital Partners Limited Partnership ("Brera"), the New York-based private investment firm, today announced it has agreed to acquire the GAB Robins group of companies ("GAB Robins") from SGS Societe Generale de Surveillance Holding S.A. ("SGS," SWX: SGSI). SGS, headquartered in Geneva, Switzerland, is the world's largest provider of inspection services. GAB Robins is the second-largest independent loss-adjustment provider in the world. It is also a major provider of third-party claims administration services for the alternative risk market. The transaction is expected to close in the fourth quarter of 1999.

Under the terms of the transaction, Brera will acquire a 90.5% participation through its subsidiary Brera GAB Robins LLC, while SGS will retain a 9.5% common stock interest. SGS will also retain the ownership of Intermodal Transportation Services ("ITS"), GAB Robins' auto and marine inspection business. During 1998, GAB Robins, excluding ITS, had sales of approximately $380 million.

Jun Tsusaka, a Principal of Brera, stated: "This acquisition represents a superb opportunity to partner with a global leader and actively build on its strengths. We believe major companies in the insurance sector will continue to refine their focus on core competencies and cost control. This will drive demand for top-quality services like those that GAB Robins provides. We at Brera will provide the Company with a new level of dedicated, focused stewardship challenging GAB Robins to pursue an ever-broader range of opportunities in its industry sector with renewed aggressiveness. Our goal is to give GAB Robins the resources and impetus to leverage to their fullest potential the enviable expertise of its professionals and its world-wide network of offices."

Mr. Tsusaka continued: "Specifically, GAB Robins' customers expect responsiveness and flexibility. As it re-engineers the processes for doing business to better serve their policyholders, employees and customers, GAB Robins must continue to partner seamlessly with them. As many carriers, self-insureds and brokers grow through acquisition, or through regional and international expansion, GAB Robins has to deliver consistent service wherever and whenever needed. Also, as customers increasingly seek meaningful information to help reduce their cost of risk, they insist on easily accessed, timely reports and analysis. Brera will help provide GAB Robins with the investment in people, processes and technology it needs to remain the independent service provider of choice."

Tony Czura, Chief Executive Officer of SGS, stated, "We are delighted that the employees of GAB Robins will have an opportunity to partner with Brera Capital Partners. We believe that their commitment towards doing what is right for GAB Robins and its employees is unquestioned."

The Company anticipates that, through changing ownership, it will be able to better capitalize on core strengths and opportunities that include:

- Leading Global Market Positions - GAB Robins is the second largest independent loss- adjustment provider on a global basis, and one of the top three participants in all the regions in which it competes.

- Large Market Potential for Outsourcing Loss Adjusting - The North American insurance claims adjusting market is estimated at $33 billion annually. Of this amount, the Company believes that only $3.1 billion (less than 10%) is outsourced to loss adjusters like GAB Robins. Further, most of that amount ($2.7 billion) is currently handled by local, independent operations lacking the ability to compete on a national or global scale. Overseas markets present similar opportunities to grow GAB Robins' business.

- Highly Fragmented Third-Party Administration Market - In the United States, the third-party administration business for insurance claims is an approximately $2 billion market served by 400 firms. The Company estimates that 85% of the market is served by regional and local operations, three-quarters of which are companies with revenues of less than $1 million. With increasing technology requirements, the market is expected to consolidate rapidly. GAB Robins is well positioned to benefit from this trend having completed a $40 million IT platform upgrade over the past few years.

- An International Reputation for Professionalism and Technical Expertise - GAB Robins employees have been specifically called upon to perform both claims adjusting and investigatory work on high-profile disasters ranging from the U.S. World Trade Center and U.K. National Westminster Tower bombings, to the Persian Gulf War, to this year's explosion at Ford Motor Company's plant in Dearborn, Michigan.

- A Scalable, Leading-edge Technology Platform - GAB Robins' industry-leading, client-server-based ACIS infrastructure is scalable, will be Web-enabled and can handle increased traffic of up to 40% over its current volume.

Mr. Tsusaka concluded: "For GAB Robins' customers and employees, this deal is extremely positive. For the first time in years, GAB Robins will be able to respond directly to market forces on its own. This will mean increased responsiveness to its customers and rewarding professional growth for its employees."

GAB Robins has operations in 40 countries and provides the world's most comprehensive network of loss adjustment, risk management and investigative services. With more than 4,600 GAB Robins employees the Company handles more than 1.7 million claims annually, providing seamless claims services domestically and across international borders for the global property and casualty insurance market. For more information, visit www.gabrobins.com.

Brera Capital Partners Limited Partnership is a $650 million private-equity firm based in New York City investing in a very limited number of companies and a few selected industries, including telecommunications, financial services and outsourcing. Brera Capital Partners seeks to build value by bringing to each investment proven experience in building successful companies, a spirit of true partnership with management in ownership and governance and an unconditional commitment to always do what is right for the company. For more information on Brera, see the Company's Website at www.brera.com.