ULLICO Inc. Names Edward M. Smith to be President

Long-time LIUNA Officer Retires to Assume New Role with Labor's Own Insurance and Financial Services Company

WASHINGTON,D.C. (February 28,2008) - Edward M. Smith,currently Executive Vice President of ULLICO Inc. and a life-long member and long-time regional leader of the Laborers' International Union of North America,will become the President of ULLICO Inc.,labor's own insurance and financial services company. The Board of Directors approved the appointment,which will become effective as of May 1,2008,ULLICO announced today.

"Ed's deep roots in the Union movement and commitment to organized labor make him an exceptional asset for ULLICO," said Joseph Hunt,ULLICO's Board Chairman. "He has a profound understanding of the needs of America's workers and his rich experience will continue to be a valued resource for us in this key leadership role."

Smith joined LIUNA in 1968 at the age of 13. In 1976,at the age of 21,he was elected Business Manager of the local and in 1996 he was elected International Vice President. Since January of 2007,Smith has held simultaneous positions with LIUNA as Vice President,Midwest Regional Manager and Assistant to the President,and with ULLICO as Executive Vice President. After 40 years of serving LIUNA in many roles,Smith will retire from the union to become ULLICO President.

Smith is also well known and respected in Illinois for his leadership positions with the Illinois State Board of Investment,Illinois Department of Labor Advisory Board,the Democratic National Committee,and the National Alliance for Fair Contracting.

"We are excited that Ed has decided to join ULLICO in this new full time role," said Mark Singleton,Chief Executive Officer of ULLICO Inc. "He has been a valued and trusted member of our team and,along with ULLICO Executive Vice President Jeremiah J. O'Connor,has successfully led our Market Development group this past year. We look forward to his leadership as our President and the even greater impact he will have on our business."

"We have worked hard over the last few years to enhance the level of product and business expertise on the ULLICO team. With Ed,Jerry and the rest of the Market Development group,we now have a unique and unmatched combination of business and labor expertise in key leadership positions that will drive value for our customers and shareholders for years to come," said Singleton. "This is an exciting time for ULLICO and its family of companies."