RELIANCE CHAIRMAN RESIGNS

Saul Steinberg resigned on May 1 as chairman of Reliance Group Holdings Inc. and its Philadelphia subsidiary, Reliance Insurance Co. A spokeswoman for the Pennsylvania Department of Insurance confirmed that both Steinberg and interim CEO of Reliance Insurance George Baker had resigned. Two years ago, Steinberg resigned as Reliance CEO. In April 2001, Pennsylvania appointed David S. Breitling to oversee the company. Howard Steinberg, no relation to Saul Steinberg, was named acting president of Reliance. At press time, permanent replacements for Steinberg and Baker had not yet been named.