EQECAT's 2002 Hurricane Model Certified by Florida Commission.

Business Editors

OAKLAND, Calif.--(BUSINESS WIRE)--June 14, 2002

EQECAT Inc., an ABS Consulting company, announces that the Florida Commission on Hurricane Loss Projection Methodology has approved its proprietary USWIND(R) model for the fifth consecutive year. To be approved, the model must meet standards that include specific meteorological, actuarial, vulnerability, statistical (e.g., sensitivity and uncertainty analysis) and computer science tests. Qualifications of modeler personnel and consultants are also assessed. EQECAT has been certified every year since the initiation of the Florida Commission.

Dr. Mahmoud Khater, senior vice president and chief technology officer of EQECAT, noted that: "Our first objective is to meet the business needs of our clients, which in this case means ensuring that our software meets all of the demanding standards set by the Commission. We are pleased that the work of our team of engineers, scientists and mathematicians has again been validated by the Commission's Professional Team." In addition to meeting the standards of the Commission, EQECAT's loss mitigation factor, which accounts for the key features of the outside envelope of a structure or cladding, was approved by the Commission for the third straight year.

EQECAT Inc. is a leading provider of global catastrophe management software and services specifically focused on the property and casualty insurance industry. ABSG Consulting Inc., marketing under ABS Consulting, (www.absconsulting.com), provides rational engineering-based solutions that blend state-of-the-art technology with practical loss-control measures and innovative risk-transfer options. Headquartered in Houston, ABS Consulting is an affiliate of ABS, one of the world's largest providers of classification services to the international marine and offshore industries.