International Risk Group Moves to New Headquarters in Littleton, Colo.

Business Editors

LITTLETON, Colo.--(BUSINESS WIRE)--Jan. 2, 2001

International Risk Group, a spin-off of Cherokee Environmental Risk Management (CERM) which began operations in November 2000, is moving to its new headquarters in Littleton, Colo., today. CERM continues to operate as the premier environmental risk management and environmental insurance broker in the industry.

International Risk Group was formed by Dr. Wayne Dorband, formerly chief operating officer of Cherokee Environmental Risk Management, to expand the value and range of solutions offered to clients in the quantification, transfer, management and assumption of environmental liability. International Risk Group employs attorneys, engineers, insurance underwriters, risk management and actuarial professionals. According to Dr. Dorband, "International Risk Group principals have been providing solutions for the transfer, management and assumption of environmental liability for 15 years."

International Environmental Risk Underwriters (IERU), a subsidiary of International Risk Group, uses a proprietary, scientific modeling approach to quantify environmental risk allowing insurance companies to understand the nuances of environmental exposures. The resulting manuscripted insurance policies provide insurance brokers, corporate risk managers, business leaders and legal counsel with valuable solutions to mitigate environmental risk.

"A unique aspect of the International Risk Group is its ability to assume risk through another subsidiary, International Assumption Partners (IAP)," said Dr. Dorband. IAP is a liability assumption entity capitalized to securitize environmental liability assumptions using a fixed price indemnity contract. It provides a creative means to accomplish finite risk and structured finance settlements in corporate, financial and real estate transactions.

According to Dr. Dorband, "International Risk Group has a unique ability and proven track record to provide the most complete and valuable menu of the environmental risk mitigation solutions in the market today."

International Risk Group's Chief Executive Officer Dr. Dorband has over 24 years of experience as a principal in the environmental industry. He is an industry leader in the area of environmental risk management and insurance. As an owner of laboratories, consulting firms and contracting businesses, he has directed thousands of projects for private and public entities. He has taught as a college professor, authored numerous articles and possesses technical expertise in a wide diversity of disciplines from air quality to soil chemistry to aquatic ecology.

International Risk Group headquarters is located at 7991 Shaffer Parkway, Suite 100, Littleton, CO 80127. Phone: [phone] Fax: [phone]