Quanta Names Baker, Shapiro to Board

February 28, 2006

Bermuda-based Quanta Capital Holdings Ltd. announced the appointment of Roland C. Baker and Robert B. Shapiro to its Board of Directors and to its Audit Committee. Baker was also appointed to the Compensation Committee and Shapiro was also appointed to the Governance and Nominating Committee.

The announcement noted that the appointment of the two men as independent directors restores “Quanta’s compliance with Board-independence and Audit Committee requirements of the Nasdaq exchange.”

Quanta’s Chairman, James J. Ritchie, commented: “We are honored that two professionals with such distinguished careers and experience in the insurance industry are joining us to provide their insights and talent to Quanta’s Board of Directors. Roland Baker’s experience in executive and other management positions within insurance companies contributes additional strengths and perspectives to our Board. Robert Shapiro is an attorney specializing in mergers and acquisitions in the insurance industry, insurance transactional work, regulatory and tax matters with an extensive track record in assisting clients in a wide variety of aspects of the insurance business.”

Baker has more than 35 years experience in the insurance industry. He served as President of First Penn-Pacific Life Insurance Company, a member of the Lincoln Financial Group, from 1995 until his retirement in 2001. Since his retirement in 2001, Mr. Baker has served as a consultant to the insurance industry and as adjunct professor of finance at Northeastern Illinois University.

Shapiro currently is Of Counsel with the Jorden Burt Law Firm specializing in insurance operations, mergers and acquisitions, financial transactions and compliance. Before joining Jorden Burt LLP in May 2005, he practiced for 22 years with The Bernstein Law Firm and the U.S. Securities and Exchange Commission. Mr. Shapiro received his J.D. from Syracuse University, an M.B.A in Finance from the Wharton School, and an LLM in Tax Law from Georgetown University Law Center.

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