Alliant Resources Group Acquires Gaddy Ward

May 17, 2004

Alliant Resources Group Inc., one of the largest U.S. insurance brokerage and financial services distribution companies, announced the acquisition of California-based Gaddy Ward & Company Insurance Brokers. Gaddy Ward will become part of Alliant’s largest subsidiary, Driver Alliant Insurance Services Inc., headquartered in San Diego, Calif.

“The Gaddy Ward acquisition gives Driver Alliant and Alliant Resources Group additional specialty expertise in a growing geographic area and segment of the insurance market,” said Tom Corbett, chairman and CEO of Driver Alliant. “Gaddy Ward is a leading specialty firm with a superior management team. Their expertise is highly regarded and will complement the insurance services and products currently offered by Driver to the construction industry.”

“The staff and management of Gaddy Ward are excited about the expanded opportunities, resources and markets that will now be available to our organization,” said Stan Ward, CEO of Gaddy Ward. “We believe the combination of Driver Alliant’s extensive resources and product capabilities combined with our local knowledge and expertise will take our firm to the next level,” added Scott Gaddy, president of Gaddy Ward.

Founded in 1996 by Stan Ward and Scott Gaddy, Gaddy Ward focuses on providing products, services and expertise to the commercial construction industry. Headquartered in Lodi, Calif., Gaddy Ward is one of the premier service providers to the construction industry throughout the Central California Valley. Its largest clients include leading public works contractors and real estate developers. Gaddy Ward had revenues in excess of $4 million for 2003.

Gaddy Ward, advised on this transaction by Orlando-based Nexus Group will continue to be led by Stan Ward and Scott Gaddy.

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