Management

Effective April 6, 2004, 99.5% of the issued and outstanding stock of Texas Builders Insurance Company was acquired by TBIC Holding Corporation. This purchase transaction was approved by the shareholders of the company on February 17, 2004, and was waiting on regulatory approval by the Texas Department of Insurance to close the transaction. That approval was received on Monday April 5, 2004. Robert C. Siddons and Paul W. Keller own 80.4% of the issued and outstanding stock of TBIC Holding Corporation. Mr. Siddons and Mr. Keller have served in the capacity of President and Board Chairman, respectively, for over 16 years.

Administration of the company's affairs is directed by President Robert C. Siddons, Executive Vice President and Treasurer Andrew J. Reynolds, Vice President of Underwriting Richard A. Barry and Vice President of Financial Reporting Vickilynn Renfrow.

Executive management is provided by TBIC Holding Corporation. Texas Builders Insurance Company has a management agreement with TBIC Holding Corporation to provide management and administrative services on an established fee structure. Claims and loss prevention services are provided by Texas Builders Insurance Company in-house personnel.

Officers

President, Robert C. Siddons, Executive Vice President and Secretary - Treasurer, Andrew J. Reynolds, Vice President of Underwriting, Richard A Barry, and Vice President of Financial Reporting, Vickilynn Renfrow.

Directors

Paul W. Keller, Andrew J. Reynolds, Robert C. Siddons, Kerry A. Keller, Benjamin A. Siddons, Richard A. Barry and Stephen Gurasich.