W. R. Berkley Increases Dividend 11%

March 12, 2003

W. R. Berkley Corporation announced that its Board of Directors had voted to increase the cash dividend to the annual rate of 40 cents per share from the previous rate of 36 cents. “This represents an 11 percent increase over the prior year’s rate,” said the announcement.

The first quarterly dividend at the new rate of 10 cents per share will be paid on April 1, 2003 to stockholders of record at the close of business on March 25, 2003.

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