Markel International Downgraded

December 25, 2000

The FSR of Markel International was lowered from “A” to “A-” by A.M. Best. At the same time, senior debt ratings for Markel International and Markel Corp. were lowered from “bbb+” to “bbb” while the preferred stock rating of Markel Capital Trust I was downgraded from “bbb” to “bb+” respectively.

Additionally, the “A” FSRs of the following Markel members were affirmed: Markel North American Insurance Group, Essex Insurance Co., Evanston Insurance Co., Markel Insurance Co., and Markel American Insurance Co. The “A-” FSRs of Markel members Associated International Insurance Co. and Deerfield Insurance Co. were also affirmed.