PMA Capital Completes Acquisition of Webster Risk Services and Announces Second Quarter 2008 Earnings Release Date

  
    
  
  
    
      PMA Capital Corporation (NASDAQ:PMACA) announced today the completion of 
      its acquisition of Webster Risk Services, a Connecticut-based provider 
      of Third Party Administration (TPA) services, from Webster Financial 
      Corporation. Webster Risk Services, which will be renamed PMA Management 
      Corp. of New England, Inc., is well known for its expertise in providing 
      risk management and TPA services to healthcare and public entity 
      customers primarily in the Connecticut and New York markets. Under the 
      terms of the transaction, PMA Capital paid $5.9 million in cash for 
      Webster Risk Services, which included certain price adjustments at 
      closing.
    
    
      “The acquisition of PMA Management Corp. of 
      New England is a natural extension of our fee-based business segment, 
      and expands the geographic reach of our expertise in providing TPA and 
      risk services,” said Vincent T. Donnelly, 
      President and Chief Executive Officer of PMA Capital Corporation.
    
    
      “Exclusive of any anticipated synergies, this 
      transaction is expected to add about 2 cents per share to our earnings 
      on an annual basis,” said Mr. Donnelly. He 
      added, “We expect to be able to quickly 
      enhance the product and service offerings at PMA Management Corp. of New 
      England, and believe that, working with the group’s 
      existing management team and experienced staff, we will continue to grow 
      our market presence in this important territory.”
    
    
      Alan Mathog, President of Webster Risk Services, said, “Our 
      team is excited to become part of the PMA Capital family, and we believe 
      that PMA Capital’s expertise in specialized 
      risk management solutions and services to customers throughout the 
      United States will help us grow our business and enhance our ability to 
      deliver excellent service to all of our customers.”
    
    
      Second Quarter Results and Conference Call
    
    
      PMA Capital Corporation also announced today that it intends to release 
      its second quarter 2008 financial results on Thursday, July 31, 2008, 
      after the market closes. At that time, a copy of the Company’s 
      earnings release and quarterly statistical supplement will be available 
      on the Company’s website at www.pmacapital.com 
      in the Investor Information section (choose Current Investor 
      Information). Click on News Releases to access the release; from Current 
      Investor Information, you can click on Financial Reports to access the 
      quarterly statistical supplement.
    
    
      Management will hold a conference call with investors beginning at 8:30 
      a.m. Eastern Time on Friday, August 1st to 
      review the Company’s financial results in 
      detail.
    
    
      To listen to the conference call, please dial 888-680-0860 (domestic) or 
      617-213-4852 (international) approximately five minutes before start 
      time and use passcode 30101283. You may pre-register for the conference 
      call using the following link:
    
    
      www.theconferencingservice.com/prereg/key.process?key=PHV79DVKP
    
    
      Pre-registering is not mandatory but is recommended as it will provide 
      you immediate entry into the call and will facilitate the timely start 
      of the conference. Pre-registration only takes a few moments and you may 
      pre-register at anytime, including up to and after the call start time. 
      Alternatively, if you would rather be placed into the call by an 
      operator, please use the dial-in information above at least 5 minutes 
      prior to the call start time.
    
    
      To access the webcast, enter the Investor Information section (choose 
      Current Investor Information). Click on News Releases to find this 
      announcement and then click on the microphone next to this release. 
      Please allow approximately 15 minutes prior to the call to visit the 
      site and download the necessary software to listen to the webcast. 
      Please note that by accessing the conference call via the Internet, you 
      will be in a listen-only mode.
    
    
      A replay of the conference call will be available through Monday, 
      September 1, 2008 by dialing 888-286-8010 (domestic) or 617-801-6888 
      (international) using passcode 29167795.
    
    
      This press release includes forward-looking statements as defined in the 
      Private Securities Litigation Reform Act of 1995. These forward looking 
      statements may include estimates, assumptions or projections and are 
      based on currently available financial, competitive and economic data 
      and the current operating plans of the Company. Although the Company’s 
      management believes that its expectations are reasonable, there can be 
      no assurance that actual results will not differ materially from such 
      expectations. Factors that could cause actual results to differ 
      materially from those in the forward-looking statements include, without 
      limitation, the Company’s ability to achieve 
      the projected accretion in earnings, changes in developments or trends 
      in business and the markets in which the Company operates, and the 
      Company’s ability to retain key customers and 
      certain personnel. Accordingly, you should not place undue reliance on 
      any forward-looking statements in this press release. Forward-looking 
      statements are not generally required to be publicly revised as 
      circumstances change and the Company does not intend to update the 
      forward-looking statements in this press release.
    
    
      PMA Capital Corporation, headquartered in Blue Bell, Pennsylvania, is a 
      holding company whose operating subsidiaries provide insurance and 
      fee-based services. Insurance products include workers’ 
      compensation and other commercial property and casualty lines of 
      insurance, primarily in the eastern part of the United States, 
      underwritten and marketed under the trade name The PMA Insurance Group. 
      Fee-based services include third party administrator, managing general 
      agent and program administrator services.
    
    
      For additional information, visit www.pmacapital.com.