News Release September 15, 2005 For Immediate Release: For further information contact: American Wholesale Insurance Group Gregg Calestini Chief Marketing Officer 4064 Colony Road, Suite 450 Charlotte, NC 28211 Telephone: 704.943.2004 Fax: 704.943.9000 gregg.calestini@amwins.com American Wholesale Signs Definitive Agreement to Sell Majority Interest to Parthenon Capital CHARLOTTE, NC, September 15, 2005 – American Wholesale Insurance Group (AmWINS), the leading independent insurance wholesaler, announced the signing of a definitive agreement to sell a majority of its ownership to affiliates of Parthenon Capital, LLC, a Boston and San Francisco-based private equity firm in a transaction where management will continue to own a substantial portion of the Company. The consummation of the transaction is subject to normal and customary closing conditions. With offices in over 35 locations across the United States, AmWINS (www.amwins.com) is a wholesale insurance brokerage firm dedicated to serving retail agents throughout the U.S. by providing property and casualty brokerage, program administration, and group life and health brokerage services. AmWINS generates total premium placements of over $2.4 billion annually, making it the largest independently-owned wholesale insurance broker operating in the United States. Parthenon Capital is a $1.1 billion private equity firm with offices in Boston and San Francisco. Parthenon works with owners and managers to build value by offering growth capital and strategic operating expertise enabling a company to reach its Full Potential. Parthenon provides equity capital to mid-sized companies with revenues between $50 million and $500 million. Parthenon Capital has a particular expertise in the following industries: Business/Financial Services, Healthcare, Value-Added Distribution, Consumer Products and Niche Manufacturing. For more information, visit www.parthenoncapital.com.