Board of Directors of Atlantic Mutual Announces New President and Other Management Changes

NEW YORK, NY, June 11, 2004 -- The Board of Directors of Atlantic Mutual has announced a new president and other management changes.

Daniel H. Olmsted was promoted to President of Atlantic Mutual and a member of the Board of Trustees; Richard J. Hertling to Executive Vice President and Chief Financial Officer; and Martha Van Hise to Vice President of Human Resources. John K. Shea was appointed Vice President of Commercial Claims.

"I am delighted with the new management team at Atlantic Mutual," said Chairman and CEO Klaus Dorfi. "In particular, the promotions of Dan Olmsted and Rich Hertling reflect their tremendous contributions as we restructured the company to become a well-capitalized writer of affluent personal lines business. They will be a driving force in the company as we move forward."

Dan Olmsted joined the company in 1984 and was most recently Senior Vice President of the Personal Insurance Division. Mr. Olmsted has earned a CPCU designation, a MBA from the College of Insurance, and a JD from Fordham University.

Rich Hertling has been serving as CFO since his appointment in September, 2003. His promotion from Senior Vice President to Executive Vice President reflects the senior management role he now plays in the company. Mr. Hertling joined Atlantic Mutual in 1979 and has a BS in mathematics from York College. He was accepted as a Fellow of the Casualty Actuarial Society in 1990.

Martha Van Hise joined Atlantic Mutual in 1999 with 20 years of experience in human resources. She will assume full responsibility for human resources and compensation & benefits. Ms. Van Hise has a BA in political science from Bucknell University and a MBA in quantitative techniques from Fairleigh Dickenson University in NJ.

With the appointment of John Shea as Vice President of Commercial Claims, the Board approved the restructuring of the Claims organization around the critical tasks of running off commercial claims and further enhancing claims service for personal lines. Mr. Shea will officially join Atlantic Mutual on June 14, 2004 with almost 30 years of experience in claims, including time as President and COO of a prominent TPA, loss adjusting and case management company. His appointment gives Atlantic Mutual a proven leader who can manage complex commercial claims in a run-off situation, and it frees Bill Bernecker, VP of Claims, to concentrate more fully on personal lines. Mr. Shea has a BA from Keene State College in New Hampshire.

About The Atlantic Companies

The Atlantic Companies, also known as Atlantic Mutual, is a group of diversified financial services companies with a Wall Street heritage dating back to 1842. The group is widely known for the Atlantic Master Plan insurance program, which is designed specifically for affluent individuals and sold through a select group of independent agents. The Atlantic Companies acts as a property-casualty insurer, manages claims for commercial insurance, and helps other business partners target profitable niches in the insurance marketplace. Additional information about The Atlantic Companies and the Atlantic Master Plan can be found at www.atlanticmasterplan.com.


Contact: Peter G. Scott
Corporate Marketing & Communications
973-408-6044