Hilb, Rogal and Hamilton Company Announces Share Repurchase Program

March 27, 2003

Hilb, Rogal and Hamilton Company, the world’s tenth largest insurance intermediary, announced today that the company’s board of directors has authorized the company to purchase up to $20 million of its common stock, replacing a more restrictive prior authorization.

“The board and management believe that share repurchases at current share price levels represent an attractive investment for HRH that will enhance long-term shareholder value,” said the bulletin.

It indicated that “the repurchases may be made on the open market or in negotiated transactions, with the timing and amount of transactions to be determined by HRH’s management subject to market conditions and other factors.”

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