Old Republic Reports On Senior Executive Stock Options

News Release

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March 4, 2002 at 4:56 PM EST

Old Republic Reports On Senior Executive Stock Options

CHICAGO, Mar 4, 2002 /PRNewswire-FirstCall via COMTEX/ -- Old Republic International Corporation (NYSE: ORI) today reported that its Chairman and Chief Executive Officer, A. C. Zucaro, intends to exercise options on as many as 660,000 shares granted to him and vested during the past nine years. In accordance with a plan previously established pursuant to Rule 10b5-1 of the Securities and Exchange Commission, dependent on market conditions during 2002, a certain number of such option shares are to be sold concurrent with their exercise. Zucaro intends to apply substantially all proceeds from any such sales to the payment of the option exercise prices, transaction costs, and Federal and State income taxes incurred upon exercise, and to hold any exercised and unsold option shares for investment. As of February 28, 2002, Zucaro held directly or beneficially a total of 353,906 Old Republic common shares. The number of shares that would be added to these holdings from the intended exercise of options will be dependent on the market value of the option shares actually exercised and sold.

About Old Republic

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 $7.9 billion and capitalization of $2.9 billion. Its current stock market valuation is approximately $3.8 billion.

For the latest news releases and other corporate documents on Old Republic International visit 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, George Zagoudis, +1-312-640-6663, gzagoudis@webershandwick.com , Analysts-Investors, Leslie Loyet, +1-312-640-6672, lloyet@webershandwick.com , or Media, Al Orendorff, +1-312-640-6775, aorendorff@webershandwick.com , all of FRB Weber Shandwick