Argus Group Declares Dividend

Hamilton, Bermuda - 17 March, 2010 - Argus Group Holdings Limited ("Argus Group") (AGH.BH) today announced a cash dividend of 10 cents a share payable on April 15, 2010, to shareholders of record as of March 31, 2010.

The currently declared dividend rate of 10 cents per share is supported by the earnings of the Argus Group’s core businesses.

The dividend is reduced from a recent quarterly rate of 16 cents a share.  This action has been taken by the Directors of Argus in response to recent developments at Butterfield Bank, which have been widely reported in the press.  Argus was a significant shareholder of the bank and the reduction in value of that investment and subsequent dilution of that shareholding by recent events has necessitated a reduction in the Argus Group’s dividend.

Gerald Simons, President and Chief Executive Officer of the Argus Group, comments: “As a major provider of insurance and other financial services in this community, we take seriously our responsibility to balance the interests of all our stakeholders, particularly our customers and shareholders.  We believe that this action achieves this goal.”

The Argus Group
Argus Group Holdings Limited and its subsidiaries, commonly known as the Argus Group, is a multi-line insurance and financial services organisation offering a full range of insurance, pensions and investment products targeted at local and international organisations and individuals. It is the leader in group health insurance and pension plans in Bermuda.

For further information, visit: www.argus.bm.

Media Contacts:

Gerald Simons

President & Chief Executive Officer 

Telephone:                  298-0810

E-mail:                         gsimons@argus.bm

David Pugh

Chief Financial Officer                                              

Telephone:                  298-0832

E-mail:                         dpugh@argus.bm