TILLINGHAST - TOWERS PERRIN RELEASE TAS:P/C 2001

Tillinghast - Towers Perrin, a leading provider of risk management services for the financial services industry, has announced the release of a new version of its dynamic financial modeling software, TAS:P/C 2001, a core component of the firm's RiskValueInsights suite of risk management products and services.

TAS:P/C 2001, designed to help property/casualty insurance companies to manage volatility and measure value creation, is a financial projection software system that performs scenario testing with fully integrated asset and liability modeling under alternative economic, capital market and insurance market environments. The system can be used to test the resilience of companies' capital and earnings under alternative investment, reinsurance and underwriting strategies.

"The new version of the software has been received extremely well by clients and prospects," said Stephen Lowe, Head of Global Product and Service Development for Tillinghast - Towers Perrin. "Many companies realize that they must improve their financial modeling capabilities in order to more fully understand the risks they face.

"TAS:P/C 2001 helps them not only to evaluate these risks, but also to create strategies to manage these risks," he added. "Just in the last quarter, 12 companies have committed to licensing TAS:P/C 2001. All companies that have evaluated TAS:P/C 2001 have been impressed with the system and chosen it over other alternatives."

"TAS:P/C 2001's modeling capability is constantly being enhanced to respond to the needs of our clients," said Francois Morin, a Tillinghast - Towers Perrin consulting actuary. "Our newest release of the software includes multi-currency capability, integrated asset optimization, the ability to model complex reinsurance structures, and additional functionality for output report. We have also incorporated economic capital calculations to allow users to more efficiently perform capital adequacy and capital allocation calculations. We are committed to the ongoing development and enhancement of this product."

TAS:P/C 2001 has multiple asset models and is fully integrated with Towers Perrin's Global CAP:Link economic scenario generator. TAS:P/C 2001 also is the companion product to TAS, the leading financial projection software for life and health insurers.

About Tillinghast - Towers Perrin and Towers Perrin Reinsurance

Tillinghast - Towers Perrin and Towers Perrin Reinsurance help clients improve business performance through quantitative analysis, insight, execution and risk transfer solutions. Tillinghast - Towers Perrin provides actuarial and management consulting to the financial services industry as well as worldwide, helping its clients develop strategies that are tailored to their individual needs. The firm's risk management practice also consults to a wide range of companies beyond the financial services market, and its health sector practice consults to organizations that finance and manage health care risks.

Tillinghast - Towers Perrin and Towers Perrin Reinsurance are part of Towers Perrin, one of the world's largest independent management and human resource consulting firms, with over 9,000 employees and 78 offices in 74 cities worldwide. Towers Perrin helps organizations improve business performance and manage their investment in people, advising them on human resource strategy and management, organizational effectiveness, compensation, benefits and communications.

Contact Bliss, Gouverneur & Associates, New York, Tracy Spencer, 212-840-1661, tracy@blisspr.com.