ANNOUNCEMENT

THE GUARANTEE COMPANY OF NORTH AMERICA USA

We are pleased to announce the appointment of Stephen Ruschak, JD AFSB to the position of Vice President, Chief of Operations. Stephen will report to Robert Dempsey, President.

Prior to joining our Company Stephen has experience as a Senior Vice President located in Bermuda managing Surety, Fidelity, Political Risk and Trade Credit for a global underwriter. He started in the surety industry in 1995 as a claims attorney for a major primary surety company. His most recent experience has been as a reinsurance broker with Willis Re.

Stephen holds an MBA from the University of Chicago, School of Business, a J.D. from the University of Detroit, School of Law and a B.A. in History from Albion College (Albion, Michigan). He is licensed to practice law in Illinois and Michigan. Stephen also holds the Associate in Fidelity and Surety Bonding (AFSB) designation.

Stephen will start his new duties with our Company on Sept 1, 2009. We look forward to the contribution Stephen will make toward the future development of our Company.

Jules R. Quenneville

Executive Chairman & CEO