iwix.net CEASES OPERATIONS

April 16, 2001

iwix.net, an Internet specialty insurance marketplace, will close effective April 30 due to its inability to secure additional funding.

The exit plan has been communicated in detail to its carrier/MGA partners and its broker/agent members. Although iwix.net is not accepting new members or new risks, current members and carrier/MGA partners can continue to use iwix.net until April 30 so they may conclude transactions in process.