Powers Appointed CEO of Seibels Bruce Group

October 8, 2002

The Seibels Bruce Group Inc., a property/casualty insurance holding company based in Columbia, S.C., announced that Charles H. Powers has assumed the position of chief executive officer. Powers also currently serves as the company’s chairman of the board and has been a board member since 1997.

John E. (Jack) Natili will continue to serve as president of Seibels Bruce, a position he has held since January 2001.

Bryan D. Rivers was appointed treasurer and will assume the duties of treasurer in addition to those of controller while acting as the company’s principal accounting officer. Rivers has been Seibels Bruce’s controller since June 1999. Rivers replaces Kenneth W. Marter, chief financial officer and treasurer, who has left the company to pursue other interests.

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