American Safety Insurance Group Approves Stock

June 30, 2000

The American Safety Insurance Group, Ltd. board of directors has authorized a new stock repurchase program of up to 500,000 shares of the company’s common stock. Subject to availability, the transactions may be made from time to time on the open market or directly from shareholders at prevailing market prices.

The company completed its earlier stock repurchase programs for 300,000 common shares on December 31, 1999 and 600,000 common shares on May 4, 2000 Also, A.M. Best Company has awarded the company an “A” (Excellent) rating to its recently acquired excess and surplus lines company, American Safety Indemnity Company.

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