PREVENTION INSURANCE CO. Purchases 80 Percent Controlling Interest in PWI

June 12, 2002

PREVENTION INSURANCE COMPANY has acquired for restricted stock an 80 percent controlling interest in privately held Pacific Western Insurance of Seattle. Pacific Western Insurance, founded in 1993, is a wholesale broker of property and casualty insurance which brokers insurance through agencies in Washington, Oregon, Idaho and Montana. The company has booked business of approximately $3.5 million annually.

“We are excited about acquiring this controlling interest in Pacific Western Insurance,” Scott Goldsmith, president and CEO of PREVENTION INSURANCE COMPANY, said. “Scott Stirkins, Pacific Western’s principal, with his 26 years industry experience, will assist our company in our aggressive expansion plans as he will be staying on for the next three to five years.”

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