Old Republic to Promote New Financial Management Executives

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July 23, 2001 at 1:04 PM EDT

Old Republic to Promote New Financial Management Executives

CHICAGO, Jul 23, 2001 /PRNewswire/ -- Old Republic International Corporation (NYSE: ORI) today announced two senior executive appointments in its Chicago headquarters. To succeed Paul Adams as Chief Financial Officer, the Company will elect John Adams, 43, to the position of Senior Vice President and Chief Financial Officer. Treasury and investment management functions will be the responsibility of Charlie Boone, 48, as Senior Vice President, Investments & Treasurer. Both appointments will take effect in mid-August following the Company's scheduled meeting of its Board of Directors.

John Adams, a CPA, has been associated with Old Republic for the past eight years with responsibility for a variety of duties in the financial management of its business. Prior to that a substantial portion of his career had been in the investment banking business.

Charlie Boone, a CFA, has had management responsibility for substantially all the investment portfolios of the Company and its subsidiaries for the past sixteen years. In his new position he will retain those and certain added and related responsibilities and assume other duties as the Corporation's Treasurer.

In making these announcements, Al Zucaro, the Company's Chairman and Chief Executive Officer, said that, "We're fortunate in being able to address these succession appointments with talented executives with a fine track record within our organization. Together with several other executives in financial and administrative management areas, we have a good team to manage these facets of the Corporation's business."

About the Company

Chicago-based Old Republic International Corporation is an insurance holding company whose subsidiaries market, underwrite and provide risk management services for a wide variety of coverages in the property and liability, mortgage guaranty, title and life and health insurance fields. One of the nation's 50 largest publicly owned insurance organizations, Old Republic has assets of approximately $7.4 billion and common shareholders equity of $2.5 billion. Its current stock market capitalization is approximately $3.4 billion.

For the latest news releases and other corporate documents on Old Republic International, free of charge via fax, simply dial 1-800-PRO-INFO, follow the voice mail menu prompts and enter the company's ticker symbol ORI on any touch tone phone, or access FRB's web site at: www.frbinc.com .

    Visit Old Republic at: www.oldrepublic.com .

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SOURCE Old Republic International Corporation

CONTACT: A.C. Zucaro, Chairman & CEO of Old Republic, +1-312-346-8100; or General info., Leslie Hunziker, +1-312-640-6760, lhunziker@bsmg.com , Analysts, Leslie Loyet, +1-312-640-6672, lloyet@bsmg.com , or Media, Cindy Martin, +1-312-640-6741, cmartin@bsmg.com , all of The Financial Relations Board BSMG Worldwide