USI Holdings Corporation Acquires Dascit/White & Winston, Inc.

BRIARCLIFF MANOR, N.Y. -- USI Holdings Corporation (NASDAQ: USIH) today announced that it has acquired substantially all the operating assets of the New York, NY-based small group benefit general agent Dascit/White & Winston, Inc. ("DWW") which is owned by National Financial Partners Corp. (NYSE: NFP). This acquisition is expected to contribute approximately $3.7 million in revenue to USI on an annual basis. The terms of the transaction were not disclosed.

DWW distributes group benefit products to small businesses through third party brokerage relationships. By combining the DWW business with USI's existing presence in the small group benefit marketplace, USI is well-positioned as a leading provider of these services in the New York Metropolitan area.

David L. Eslick, USI's Chairman, President and CEO, said, "The acquisition of Dascit/White & Winston strengthens our position as a provider of small group benefits products. I am pleased that USI will have the opportunity to welcome new production talent as we continue to grow our presence in the New York marketplace."

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "will" or words of similar meaning and include, but are not limited to, statements about the expected future business and financial and operating performance of USI resulting from and following the acquisition. These statements are based on management's current expectations and are inherently subject to uncertainties and changes in circumstances. Detailed information about the factors that could cause actual results to differ materially from those described in the forward-looking statements is contained in USI's filings with the SEC. Some of those factors include matters analyzed in the due diligence process, material adverse changes in the clients of the acquired company, and substantial delay in the expected closing of the transaction. All forward-looking statements included in this press release are made only as of the date of this press release, and USI does not undertake any obligation to publicly update or correct any forward-looking statements to reflect events or circumstances that subsequently occur or of which USI hereafter becomes aware.

About USI Holdings Corporation

Founded in 1994, USI is a leading distributor of insurance and financial products and services to businesses throughout the United States. USI is headquartered in Briarcliff Manor, NY, and operates out of 73 offices in 19 states. Additional information about USI may be found at www.usi.biz.