Calco Insurance Brokers and Agents Purchased

December 13, 2001

Donald D. Fey, president of Calco Insurance Brokers & Agents, Inc., announced Calco was bought by its management, producers and by Distribution Partners Investment Capital, L.P., a private investment fund managed by Hales & Company, Inc.

Calco, a California-based regional insurance brokerage, is the 42nd largest insurance brokerage firm in the nation, with projected 2001 revenue of $23.1 million on premium volume of $310 million, 130 employees and five offices located throughout California.

Calco specializes in core California industries, and partners with associations including the American Electronics Association (AEA); California Manufacturers & Technology Association (CMTA); California Metal Trades Association; Employers Group and the Association of Independent California Colleges and Universities (AICCU).

According to Fey, Calco’s management, insurance services account teams and risk management professionals remain in place.