Acceptance Seeks to Expand Agricultural Operations

August 6, 2002

Iowa-based Acceptance Insurance Companies Inc. has retained Philo Smith & Co. as a financial advisor to assist the company in expanding its agricultural risk management operations.

American Agrisurance Inc. and American Growers Insurance Company are wholly owned subsidiaries of the Company, and provide agricultural risk management products and services throughout the U.S.

Philo Smith & Co. is a U.S.-based investment bank specializing in insurance and other financial service companies worldwide.