CNA Forms Alliance With Ambridge Partners, Lloyd's of London To Provide Clients With Transaction Facilitation Insurance.

Business Editors

NEW YORK--(BUSINESS WIRE)--May 16, 2001

CNA Global Specialty Lines, a unit of CNA insurance companies that specializes in management liability and professional liability insurance products, recently entered into an agreement with Ambridge Partners LLC, a highly specialized managing general underwriter for Transaction Facilitation Insurance (TFI) products. The agreement calls for Ambridge to act as managing general underwriter for the unit's loss mitigation insurance and TFI products outside of North America. In addition, Ambridge will act as managing general underwriter for all North American TFI products based on a separate strategic alliance between CNA Global Specialty, Syndicate 1007 at Lloyd's of London and Ambridge.

TFI products include: representations & warranties insurance, tax opinion insurance, tax issue insurance, loss mitigation insurance, legislative and administrative contingency insurance and similar custom insurance products designed to address known potential contingencies which have caused an impasse in negotiations relating to a business transaction; or create economic uncertainty for a potential transaction counter-party such that the transaction consideration is significantly reduced or the deal cannot be consummated.

"We are pleased to be associated with Ambridge Partners and Syndicate 1007," said John Van Decker, managing director of CNA Global Specialty Lines. "The collective skills and capabilities contained within this strategic alliance will certainly be a winning combination."

"Ambridge is excited about the opportunity that these agreements provide us to enhance the TFI capabilities that we can offer our clients, to expand on our association with one of the premier Lloyd's syndicates, and to develop a relationship with a premier international insurer such as CNA," said Jeffrey Cowhey of Ambridge Partners LLC.

In connection with the alliance, two employees of CNA Global Specialty Lines - Brian Wanat and Mark LaChance - will be joining Ambridge as Directors.

Headquartered in Chicago, CNA (NYSE:CNA) is a leading insurance organization offering a broad range of insurance products and insurance-related services. Since 1897, CNA has built its business on a foundation of financial strength, stability and commitment to customers and business partners. Visit CNA online at www.cna.com. CNA is a service mark registered with the US Patent and Trademark Office.

Ambridge Partners LLC is a highly specialized managing general underwriter for Transaction Facilitation Insurance Products. Ambridge has offices in New York, New York and Pennington, New Jersey.

Syndicate 1007 at Lloyd's of London is managed by SVB Syndicates Limited. Mark Wheeler is the syndicate's Active Underwriter. SVB Syndicates Limited is a leading Lloyds' managing agent that was established in 1986.