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October 20, 2004

Liberty Mutual Comments on Subpoena from New York Attorney General Eliot Spitzer

In response to inquiries from policyholders, employees, investors and the media, Liberty Mutual Group issued the following statement today:

The New York Attorney General has subpoenaed Liberty Mutual as part of an ongoing, industry-wide investigation of sales practices. Liberty Mutual has not been named or referenced in any lawsuits stemming from the investigation.

As the sixth largest property and casualty insurer in the United States, it is entirely to be expected that we would be asked about our sales practices. Concurrent with our response and cooperation with the inquiry, we are conducting our own internal review of the matter and have found no evidence of bid rigging or other illegal practices.

Posted by Tom Troceen