Regular Quarterly Dividend for Baldwin & Lyons

August 8, 2002

Indianapolis-based casualty insurer Baldwin & Lyons Inc. announced that its Board of Directors has declared the regular quarterly dividend of $.10 per share on the Company's Class A and Class B Common Stock.

The dividend will be payable Sept. 3, 2002 to shareholders of record on Aug. 20, 2002.

Baldwin & Lyons subsidiaries include Protective Insurance Company, which specializes in coverage for large trucking fleets and Sagamore Insurance Company, specialists in non-standard auto insurance products.