A.M. Best Affirms and Withdraws Ratings of the Atlantic Mutual Cos. and Its Subsidiaries

A.M. Best Co. has affirmed the financial strength rating (FSR) of B- (Fair) and the issuer credit ratings (ICR) of “bb-”of the Atlantic Mutual Cos. (Atlantic) and its property/casualty members. A.M. Best has also affirmed the debt rating of “ccc” of the $100 million 8.15% 30-year surplus notes issued by Atlantic Mutual Insurance Co. (both of New York). The outlook for all ratings is negative.

Published on August 8, 2006

Subsequently, A.M. Best has withdrawn all ratings and assigned a rating of NR-4 (Company Request) in response to management’s request that Atlantic be removed from A.M. Best’s interactive rating process.

The following debt rating has been affirmed and withdrawn:

Atlantic Mutual Insurance Co.—

— “ccc” on $100 million 8.15% 30-year surplus note, due 2028

The FSR of B- (Fair) and the ICRs of “bb-”have been affirmed and withdrawn for the Atlantic Mutual Cos. and its following members:

· Atlantic Mutual Insurance Co.

· Centennial Insurance Co.

For Best’s Debt Ratings, all other Best’s Ratings, an overview of the rating process and rating methodologies, please visit http://www.ambest.com/ratings.