Brown & Brown Re Licenses CATEX Pivot Point Reinsurance Transaction

Princeton, NJ August 9, 2004
100% Web-based System to be Deployed September 1, 2004

The Catastrophe Risk Exchange International, Inc. (CATEX) announced today that Brown & Brown Re, Inc., a leading reinsurance intermediary headquartered in New York, New York, has licensed the CATEX developed, web-based Reinsurance Transaction System based on the CATEX proprietary Pivot Point Technology. Brown & Brown Re will begin using the system in a "live" environment as its exclusive transaction management system on September 1, 2004.

The system is entirely web-based and can permit a reinsurance intermediary to fully manage all aspects of its business on line, any time, from any location in the world. Pivot Point technology also permits a reinsurance intermediary to offer enhanced system access to its clients and markets if it so chooses.

Frank R. See, President of Brown & Brown Re, commented, "We reviewed numerous systems and the completeness of the Pivot Point System, and we believe its total accessibility via the Internet and the information transparency it offers should tremendously benefit our brokers and clients."

Frank Fortunato, CEO of CATEX, stated, "We look forward to deploying the Pivot Point technology and to working with the Brown & Brown Re team as they continue to grow and expand their business."

The CATEX Pivot Point technology is composed of an extensive range of proprietary applications and has been developed using exclusively Microsoft(R) technology. The technology can provide the full range of transaction components for a reinsurance transaction as managed by an intermediary. The technology may be customized to accommodate specific client requests or may be used in a basic version.

CATEX is currently customizing the Pivot Point System to meet Aon Re's specific requests. The complete system is expected to be implemented in April, 2005 for initial use by Aon Re Netherlands followed by Aon Re offices in Belgium and Spain.

The Catastrophe Risk Exchange, Inc. (CATEX) is a leading developer of web based insurance and reinsurance software. CATEX provides software as a service to brokers, agencies and reinsurers to manage all of their Treaty, facultative and commercial insurance needs. CATEX’s flagship products, CATEX Pivot Point and Data Vera, are Microsoft .NET based solutions that provide placement, contract management, fiduciary accounting, ledger control, claims management, multi-currency settlements, bordereau processing, document management, data conversion, and comprehensive MI reporting functionalities. CATEX has been operating since 1994 and is licensed by the New York Insurance Department as a reinsurance intermediary that acts in a neutral capacity.

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Brown & Brown Re
Brown & Brown Re, Inc. is the wholly-owned reinsurance brokerage intermediary of Brown & Brown, Inc. (NYSE:BRO), the nation's eighth largest retail insurance broker as ranked by Business Insurance magazine. Brown & Brown Re's primary focus is to assist clients in securing reinsurance coverage in the ever-changing reinsurance marketplace. Its experienced team of professionals is committed to delivering customized reinsurance programs to treaty and facultative clients utilizing a vast network of reinsurance companies worldwide. Specializing in all forms of casualty, property, professional and finite reinsurance coverage, clients include, but are not limited to, other Brown & Brown entities that may have reinsurance requirements for individual risks, programs, and/or treaties.

CATEX Contact
Stephanie Fucetola
+1 609-683-0888