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Argus Subsidiary Acquires Mass Mutual (Bermuda) Ltd

14 March 2008

Hamilton, Bermuda: March 14, 2008 - The Argus Group announced today that its subsidiary, Argus International Life Bermuda Limited, has completed the acquisition of Mass Mutual Bermuda Ltd, the Bermuda-based insurer offering variable life and annuity insurance products. Having actively pursued the international wealth management market for over a decade, this acquisition further enhances the position of Argus as a leading offshore insurance provider in this field.

Gerald Simons, President & Chief Executive Officer of the Argus Group, says:

"We are very pleased to continue to grow our international life insurance business, a business that is not restricted by the limited size of Bermuda. With this most recent acquisition, we believe that we are uniquely positioned to provide the highest level of service that this niche market expects."

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The Argus Group

Argus Group Holdings Limited and its subsidiaries, "The Argus Group", is the largest Bermuda-owned insurance organisation. The first company in the Group was founded in 1950. Argus writes most classes of insurance through specialised property, life and health insurance companies; it is the leader in group health insurance and pension plans in Bermuda. The Argus Group is rated "A" Excellent by the insurance rating agency, A. M. Best.

For further information, log on to www.argus.bm.