Old Republic Raises Cash Dividend 1 Cent per Share

March 24, 2003

Chicago-based Old Republic International Corp., will raise the regular quarterly cash dividend on its common stock to 17 cents per share beginning with the 2003 second quarter dividend. This represents a 6.3 percent increase from the current quarterly dividend rate of 16 cents per share. The second quarter dividend is usually declared at the May board meeting.

This increase will mark the 22nd consecutive year that Old Republic has boosted its cash dividend rate. The company has paid cash dividends without interruption for 63 years.

The company also announced the expansion of its board of directors from 12 to 14 members, and appointed Fredricka Taubitz and John M. Dixon to the added positions. Fredricka Taubitz has held senior executive positions as an audit partner with the international accounting firm of Coopers & Lybrand (now PricewaterhouseCoopers) and as a chief financial officer with a major Fortune 1000 insurance business. John M. Dixon spent substantially all of his professional career with the Chicago law firm of Chapman and Cutler from which he retired as chief executive partner in March 2002. He brings extensive experience in corporate and securities law to Old Republic’s Board.

Old Republic’s subsidiaries market, underwrite and provide risk management services for a wide variety of coverages in the property and liability, mortgage guaranty, title and life and health insurance fields.

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