Berkley Announces 3-2 Stock Split; Dividend Increase

March 15, 2005

W. R. Berkley Corporation announced that its Board of Directors has approved a 3-for-2 common stock split to be paid in the form of a stock dividend to holders of record on March 24, 2005. The additional shares are expected to be issued on April 8, 2005, immediately preceding the payment of the regular quarterly cash dividend.

The Directors also declared a regular quarterly cash dividend on the company's post-split common stock of 5 cents per share, also to be paid on April 8, 2005 to stockholders of record at the close of business on March 24, 2005.

The bulletin noted that the "cash dividend has been increased to an annual rate of 20 cents per share, representing an increase of 7 percent from the prior year's rate.

At March 3, 2005, W. R. Berkley Corporation had 84,272,875 shares of common stock outstanding.