USI Holdings Corporation Closes Acquisition of Kibble & Prentice Holding Company

  
    
  
  
    
      USI Holdings Corporation (NASDAQ: USIH) today announced that closing of 
      the previously announced acquisition of Seattle, WA-based Kibble & 
      Prentice Holding Company (Kibble & Prentice). Kibble & Prentice is 
      expected to contribute approximately $37 million of revenues to USI on 
      an annual basis.
    
    
      Founded in 1972, Kibble & Prentice is one of the largest independent 
      insurance brokers in the Pacific Northwest. The Company has a 
      diversified revenue mix with approximately 44% of revenues derived from 
      property & casualty, 34% of revenues derived from employee benefits and 
      22% of revenues derived from other financial services. The combination 
      of Kibble & Prentice with USI’s existing 
      Seattle operation will create one of the largest middle market brokers 
      in the Pacific Northwest.
    
    
      This press release contains "forward-looking statements" within the 
      meaning of the Private Securities Litigation Reform Act of 1995. 
      Forward-looking statements may be identified by words such as "expects", 
      "anticipates", "intends", "plans", "believes", "seeks", "estimates", 
      "will" or words of similar meaning and include, but are not limited to, 
      statements about the anticipated closing of the acquisition and the 
      expected future business and financial performance of USI resulting from 
      and following the acquisition. These statements are based on 
      management's current expectations and are inherently subject to 
      uncertainties and changes in circumstances. Detailed information about 
      the factors that could cause actual results to differ materially from 
      those described in the forward-looking statements is contained in USI’s 
      filings with the SEC. All forward-looking statements included in this 
      press release are made only as of the date of this press release, and 
      USI does not undertake any obligation to publicly update or correct any 
      forward-looking statements to reflect events or circumstances that 
      subsequently occur or of which USI hereafter becomes aware.
    
    
      About USI Holdings Corporation
    
    
      Founded in 1994, USI is a leading distributor of insurance and financial 
      products and services to businesses throughout the United States. USI is 
      headquartered in Briarcliff Manor, NY, and operates out of 63 offices in 
      19 states. Additional information about USI may be found at www.usi.biz.
    
  
USI Holdings Corporation (NASDAQ: USIH) today announced that
closing of the previously announced acquisition of Seattle, WA-based
Kibble & Prentice Holding Company (Kibble & Prentice). Kibble &
Prentice is expected to contribute approximately $37 million of
revenues to USI on an annual basis.

   Founded in 1972, Kibble & Prentice is one of the largest
independent insurance brokers in the Pacific Northwest. The Company
has a diversified revenue mix with approximately 44% of revenues
derived from property & casualty, 34% of revenues derived from
employee benefits and 22% of revenues derived from other financial
services. The combination of Kibble & Prentice with USI's existing
Seattle operation will create one of the largest middle market brokers
in the Pacific Northwest.

   This press release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements may be identified by words such as
"expects", "anticipates", "intends", "plans", "believes", "seeks",
"estimates", "will" or words of similar meaning and include, but are
not limited to, statements about the anticipated closing of the
acquisition and the expected future business and financial performance
of USI resulting from and following the acquisition. These statements
are based on management's current expectations and are inherently
subject to uncertainties and changes in circumstances. Detailed
information about the factors that could cause actual results to
differ materially from those described in the forward-looking
statements is contained in USI's filings with the SEC. All
forward-looking statements included in this press release are made
only as of the date of this press release, and USI does not undertake
any obligation to publicly update or correct any forward-looking
statements to reflect events or circumstances that subsequently occur
or of which USI hereafter becomes aware.

   About USI Holdings Corporation

   Founded in 1994, USI is a leading distributor of insurance and
financial products and services to businesses throughout the United
States. USI is headquartered in Briarcliff Manor, NY, and operates out
of 63 offices in 19 states. Additional information about USI may be
found at www.usi.biz.