06/06/2002
Amber Cousins Contact: 818-871-5319, Tara Rio Contact: 818-871-5320

Howard Wexler Joins Balboa Insurance Group
As Executive Vice President, Secretary and General Counsel

IRVINE, CA (June 5, 2002) – Balboa Insurance Group, a member of the Countrywide family of diversified financial services, announced today that Howard Wexler has joined the company as Executive Vice President, Secretary and General Counsel. Wexler will be responsible for overseeing the legal and compliance areas for Balboa and its subsidiaries.

"With over 20 years of insurance industry experience, we're confident Howard's extensive legal expertise combined with his leadership skills will be instrumental in ensuring the quality and integrity of all Balboa agreements," said Andrew Gissinger, managing director and president of Balboa Insurance Group.

Prior to joining Balboa, Wexler held various positions throughout his 20-year tenure with several affiliates of Fortis, Inc. While serving as Executive Vice President and General Counsel for Assurant Group, Wexler influenced corporate-wide policy decisions and led the legal and government affairs division. As President and CEO of Fortis affiliates, Auto Lenders Acceptance Corporation and Superior Insurance Company, Wexler developed strategies and executed plans to maximize shareholder value while directing executives that managed all technology, sales, financial, operational and human resources functions.

Wexler received his bachelor's degree in finance from the University of Illinois and his Juris Doctorate and LLM from Emory University. He has been actively involved with the Consumer Credit Insurance Association, having served on the board of directors, executive committee and as chairman.

About Balboa Life & Casualty
Balboa Insurance Group, Inc., is the parent of the Balboa Life & Casualty insurance companies and is a subsidiary of Countrywide Credit Industries. The Balboa companies consist of Balboa Insurance Company, Meritplan Insurance Company, Newport Insurance Company, Balboa Lloyds Insurance Company, Balboa Life Insurance Company and Balboa Life Insurance Company of New York. Each of these subsidiaries has earned a prestigious "A" rating, based on performance and financial stability, from A.M. Best Company, a leading independent insurance analyst, except for Balboa Lloyds Insurance Company, which commenced operations in January 2002 and is currently not rated. Balboa Life & Casualty is headquartered in Irvine, California, and has a network of sales and service centers throughout the country. To learn more about Balboa Life & Casualty, please visit www.balboainsurance.com.

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