W.R. Berkley Corp. Grows Capital of Berkley Insurance Co.

March 29, 2002

W. R. Berkley Corporation announced that during the first quarter of 2002 it contributed an additional $50 million of capital to Berkley Insurance Company, the lead insurance company of the Berkley Group.

The capital contribution is in addition to $44 million of capital contributed to Berkley Insurance Company in the fourth quarter of 2001. These capital contributions increase Berkley Insurance Company's statutory policyholders' surplus to approximately $700 million, providing support for its insurance and assumed reinsurance businesses.