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FOR IMMEDIATE RELEASE COLUMBUS, Ohio (December 18, 2003)- ProCentury Corporation (ProCentury) today announced that it has filed a registration statement with the Securities and Exchange Commission for an initial public offering of its common shares. ProCentury is a specialty property and casualty insurance holding company that markets and underwrites general liability, commercial property and multi-peril insurance for small and mid-sized businesses. The sole managing underwriter for the offering is Friedman, Billings, Ramsey & Co., Inc. When available, a written preliminary prospectus related to the offering may be obtained from Friedman, Billings, Ramsey & Co., Inc., 1001 19th Street North, Arlington, Virginia 22209. A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. ProCentury is the parent company of Century Insurance Group which is headquartered in Columbus, Ohio, with a regional office in Phoenix, Arizona. |