W.R. Berkley Announces 3-For-2 Stock Split, Regular Quarterly Dividend

May 17, 2002

W. R. Berkley Corp. announced that its Board of Directors has approved a 3-for-2 common stock split and had declared the company’s quarterly dividend.

The stock split provides that the new shares are to be paid in the form of a stock dividend to holders of record on June 17, 2002. They are expected to be issued on July 2, 2002, subsequent to the payment of the regular quarterly cash dividend.

The Directors declared a regular quarterly cash dividend on the company’s pre-split common stock of 13 cents per share, also to be paid on July 2, 2002 to stockholders of record at the close of business on June 17, 2002.

W. R. Berkley had 33,373,446 shares of common stock outstanding as of March 31, 2002. They closed at $59.66 on the New York Stock Exchange yesterday, up 19 cents.

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