Vesta Upgraded

June 12, 2000

DCR upgraded the claims paying ability ratings of the Vesta Insurance Group (VTA) insurance subsidiaries from “BB+” to “BBB-,” moving the insurance ratings into the secure category. Other ratings that were upgraded include VTA’s senior debt (from “B+” to
“BB-,”), the capital securities (trust preferred) rating of the Vesta Insurance Trust I and VTA’s convertible preferred stock rating (from “B” to “B+”). The rating outlook is positive.