Argonaut Group Announces Quarterly Dividend, Names New Chairman, And Authorizes Additional Share Repurchase

Apr 24, 2001, 01:00 ET from Argonaut Group, Inc.

    SAN ANTONIO, April 24 /PRNewswire/ -- Argonaut Group, Inc. (Nasdaq:   AGII)
 announced today that its Board of Directors has declared a regular quarterly
 cash dividend of $0.41 per common share.  This dividend will be payable May 29
 to shareholders of record May 15, 2001.
     At today's Annual Meeting of Shareholders, Mr. Jerrold Jerome announced
 his retirement as Chairman of the Board of Directors, but noted he would
 continue to serve as a Director.  The Board has elected Gary V. Woods as its
 new Chairman.  Mr. Woods is President of McCombs Enterprises in San Antonio,
 Texas, and joined the Argonaut Group Board in March 2000.
     Argonaut Group also announced that its Board had increased the aggregate
 authorization under the stock repurchase program announced in 1989 to
 ten million shares, an additional two million shares from the current
 authorization of eight million.  As of March 31, 2001, the Company had
 purchased a total of 7,868,736 shares under this program.
 
     Argonaut Group is a national provider of specialty insurance products
 focused on high-quality customer service for specific niches of property-
 casualty insurance.  The Company has superior financial strength with assets
 of $1.5 billion, no debt, and financial strength of its principal subsidiary
 rated A (Excellent) by A.M. Best and A by Standard & Poor's.  Argonaut Group
 is traded on Nasdaq's National Market System, ticker symbol AGII.  More
 information can be found on their website at www.argonautgroup.com.
 
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SOURCE Argonaut Group, Inc.
    SAN ANTONIO, April 24 /PRNewswire/ -- Argonaut Group, Inc. (Nasdaq:   AGII)
 announced today that its Board of Directors has declared a regular quarterly
 cash dividend of $0.41 per common share.  This dividend will be payable May 29
 to shareholders of record May 15, 2001.
     At today's Annual Meeting of Shareholders, Mr. Jerrold Jerome announced
 his retirement as Chairman of the Board of Directors, but noted he would
 continue to serve as a Director.  The Board has elected Gary V. Woods as its
 new Chairman.  Mr. Woods is President of McCombs Enterprises in San Antonio,
 Texas, and joined the Argonaut Group Board in March 2000.
     Argonaut Group also announced that its Board had increased the aggregate
 authorization under the stock repurchase program announced in 1989 to
 ten million shares, an additional two million shares from the current
 authorization of eight million.  As of March 31, 2001, the Company had
 purchased a total of 7,868,736 shares under this program.
 
     Argonaut Group is a national provider of specialty insurance products
 focused on high-quality customer service for specific niches of property-
 casualty insurance.  The Company has superior financial strength with assets
 of $1.5 billion, no debt, and financial strength of its principal subsidiary
 rated A (Excellent) by A.M. Best and A by Standard & Poor's.  Argonaut Group
 is traded on Nasdaq's National Market System, ticker symbol AGII.  More
 information can be found on their website at www.argonautgroup.com.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X50336158
 
 SOURCE  Argonaut Group, Inc.