USI Holdings Corporation Closes Acquisition of Countrywide Facilities Corp.

BRIARCLIFF MANOR, N.Y. -- USI Holdings Corporation (NASDAQ: USIH) today announced the acquisition of East Meadow, NY-based Countrywide Facilities Corporation ("Countrywide"). Specializing in energy distribution clients, Countrywide provides property & casualty insurance products and services to businesses throughout the Long Island and New York Metro area. Countrywide is expected to contribute approximately $1.2 million of revenues to USI on an annual basis.

Commenting on the acquisition, James M. Butler, CEO, USI Northeast Region, said, "USI is focused on bringing the highest quality solutions to our clients. The addition of the Countrywide team will significantly help the Northeast Region to continue achieving our long-term goals of cross-selling, client retention and diversification of revenues. I am pleased to welcome Marshall Haimson and his team to the USI Family."

Marshall Haimson, President, Countrywide Facilities Corporation, added, "Since the 1960s, Countrywide has been committed to building trusted relationships. Together with USI, we are positioned to expand our business through new relationships while continuing to deliver solutions to our existing clients. We welcome the opportunity to join such a reputable team of professionals."

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 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. 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 66 offices in 18 states. Additional information about USI may be found at www.usi.biz.