OCG Lowered

July 10, 2000

The counterparty credit and financial strength ratings on the group of companies which make up the Ohio Casualty Insurance Co. Intercompany Pool (OCG) were lowered from ‘A’ to ‘BBB+’ by S&P. Concurrently, the ‘BBB’ counterparty credit rating on Ohio Casualty Corp. was lowered to ‘BB+.’ The outlook is stable.