Hamilton, Bermuda, October 6, 1999 - In a statement issued to the Bermuda Stock Exchange (BSX) today Mutual Risk Management (NYSE: MM, BSX MM.BH) announced; "The Board of Directors have approved a stock repurchase program to purchase up to three million of its outstanding Common Shares. Purchases may be made from time to time by the Company in the open market or in block purchases or in privately negotiated transactions depending on market conditions and other factors."