How To Get People To Like Who Owns 11st Century Insurance? | Who Owns 21st Century Insurance?

WOODLAND HILLS, Calif.--(BUSINESS WIRE)--21st Century Allowance Group (“21st Century”) (NYSE:TW) and American All-embracing Group, Inc. (“AIG”) (NYSE:AIG) today appear they accept entered into a absolute alliance acceding accouterment for the accretion by AIG of all of the outstanding shares of accepted banal of 21st Century not currently endemic by AIG for $22.00 per allotment in cash. AIG currently owns about 60.8% of the outstanding shares of 21st Century. Upon achievement of the transaction, 21st Century will become a wholly endemic accessory of AIG.

Bruce Marlow, President and Chief Controlling Officer of 21st Century, will advance AIG’s absolute clandestine commuter auto operations, which will be comprised of 21st Century and AIG Direct. Combined, the two organizations had $2.9 billion of exceptional accounting in the 12 months concluded December 31, 2006.

Yesterday evening, the 21st Century Board of Admiral absolutely accustomed the alliance acceding afterward the advocacy and approval of a Special Committee comprised of admiral of 21st Century who are absolute of AIG. The transaction represents a 32.6% exceptional over 21st Century’s closing amount on January 24, 2007, the day of AIG’s unsolicited alliance proposal, and an 11.4% exceptional over AIG’s aboriginal angle amount of $19.75 per share.

“The Special Committee anxiously brash the transaction in appointment with our banking and acknowledged advisors, and the alliance acceding was the aftereffect of this assay and all-encompassing negotiations amid the parties. We accept the alliance is in the best interests of 21st Century’s boyhood stockholders,” said John B. DeNault III, Chairman of the Special Committee. The Special Committee was brash by Lehman Brothers Inc. and Skadden, Arps, Slate, Meagher & Flom LLP.

Martin J. Sullivan, President and Chief Controlling Officer of AIG, said, “We are admiring to access into this transaction, which we appearance as a win for all parties. It allows us to amalgamate our adeptness and assets to abound this business and it allows 21st Century shareholders to monetize their advance at a acute value.”

The alliance is accepted to be completed in the third division of agenda year 2007, accountable to accepted altitude and approvals. The exact timing is abased on the analysis and approval of all-important filings with the Securities and Exchange Commission (“SEC”). The transaction is accountable to the acknowledging vote of the holders of a majority of the outstanding shares of 21st Century. However, AIG has agreed to vote all of its 21st Century shares in favor of the merger, thereby acceptable that approval will be acquired at the 21st Century stockholders’ affair apropos to the merger.

NOTICE FOR 21ST CENTURY STOCKHOLDERS AND INTERESTED PARTIES

This columnist absolution is not a abode of a proxy, an action to acquirement or a abode of an action to advertise shares of 21st Century, and is not a acting for any proxy statement, breakable action account or added filing that may be appropriate to be fabricated with the Securities and Exchange Commission if the proposed transaction goes forward. 21st Century stockholders and added absorbed parties are apprenticed to apprehend any such abstracts that are filed with the Securities and Exchange Commission because those abstracts will accommodate important advice and will absolute them how to exercise their rights to catechumen shares of 21st Century into the $22.00 per allotment banknote alliance consideration. Stockholders will be able to accept such abstracts chargeless of allegation at the SEC’s web site, www.sec.gov, in the Investor Relations area of the Company’s website, www.21st.com, or by contacting Investor Relations at 21st Century via mail at 6301 Owensmouth Avenue, Woodland Hills, California 91367, or by blast at 818-673-3808.

21st Century, its admiral and controlling admiral and added bodies may be accounted to be participants in the abode of proxies in account of the proposed transaction. Advice apropos 21st Century’s admiral and controlling admiral is accessible in the Company’s Amendment to its 2006 Annual Abode on Form 10-K (10-K/A), which was filed with the SEC on April 26, 2007. Advice apropos the participants in the proxy abode and descriptions of their absolute and aberrant interests, by aegis backing or otherwise, will be independent in the proxy statement, the Schedule 13E-3 transaction account and added accordant abstracts to be filed with the SEC back they become available.

About 21st Century: Drivers Just Like You

Founded in 1958, 21st Century Allowance Group is a direct-to-consumer provider of claimed auto insurance. With $1.4 billion of acquirement in 2006, the Company insures over 1.5 actor cartage in 18 states, including California, Florida, New Jersey, Texas and the Company’s newest market, New York. The Company is active a multi-year geographic amplification action which added the allotment of the U.S. clandestine commuter auto bazaar in which 21st Century operates from about 18% in 2003 to about 66% currently. 21st Century provides above action appearance and 24/7 chump account at a aggressive price. Barter can acquirement insurance, account their action or abode a affirmation at www.21st.com or on the buzz with our accountant allowance professionals at 1-800-211-SAVE, 24 hours a day, 365 canicule a year. Account is offered in English and Spanish, both on the buzz and on the web. 21st Century Allowance Company, 21st Century Casualty Company, and 21st Century Allowance Company of the Southwest are rated A by A. M. Best, Fitch Ratings and Standard & Poor’s.

21st Century Allowance Group is traded on the New York Banal Exchange beneath the trading attribute “TW” and is headquartered at 21st Century Plaza, 6301 Owensmouth Avenue, Woodland Hills, CA 91367.

About AIG

American All-embracing Group, Inc. (AIG), apple leaders in allowance and banking services, is the arch all-embracing allowance alignment with operations in added than 130 countries and jurisdictions. AIG companies serve commercial, institutional and alone barter through the best all-encompassing accepted property-casualty and activity allowance networks of any insurer. In addition, AIG companies are arch providers of retirement services, banking casework and asset administration about the world. AIG’s accepted banal is listed on the New York Banal Exchange, as able-bodied as the banal exchanges in London, Paris, Switzerland and Tokyo.

Cautionary Statement:

Statements independent herein and aural added about accessible abstracts may include, and the Company's admiral and assembly may from time to time make, statements that may aggregate "forward-looking statements" aural the acceptation of the Clandestine Securities Action Reform Act of 1995. These statements are not absolute facts, but instead represent alone the Company's acceptance apropos approaching events, abounding of which, by their nature, are inherently ambiguous and alfresco of the Company's control. These statements may address, amid added things, the Company's action for growth, underwriting results, accepted accumulated arrangement and advance of accounting premiums, artefact development, computer systems, litigation, authoritative ambiance and approvals, bazaar position, banking results, allotment policy, reserves, and abeyant alliance transactions. It is accessible that the Company's absolute results, accomplishments and banking action may differ, possibly materially, from the advancing results, accomplishments and banking action adumbrated in these advanced statements. Added important factors that could account the Company's absolute after-effects and accomplishments to differ, possibly materially, from those in the specific advanced statements accommodate the furnishings of antagonism and competitors' appraisement actions; changes in chump preferences or affairs habits; adverse underwriting and claims experience; chump account problems; the appulse on Company operations of accustomed disasters, principally earthquake, or civilian disturbance, due to the absorption of Company accessories and advisers in Southern California; advice arrangement problems; ascendancy ambiance failures; adverse developments in banking markets or absorption rates; after-effects of legislative, authoritative or acknowledged actions, including the disability to access authoritative approval for all-important licenses, amount changes and artefact changes and accessible adverse accomplishments by accompaniment regulators in bazaar conduct examinations and amount proceedings; the Company’s adeptness to account its debt, including its adeptness to accept assets and/or acceptable payments from its subsidiaries to account its obligations; and the Company’s accord in abeyant alliance transactions. The Company is not beneath any obligation (and especially disclaims any such obligation) to amend or adapt any advanced statement, whether accounting or oral, that may be fabricated from time to time, whether as a aftereffect of new information, approaching contest or otherwise. Additional banking advice is accessible on the Company's website at 21st.com (which shall not be accounted to be congenital in or a allotment of this release) or by appeal to the 21st Century Investor Relations Department.

© 2007 by 21st Century Allowance Group. All rights reserved.

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