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Bollinger, Inc.
101 JFK Parkway
Short Hills, NJ   07078
For Immediate Release
Tuesday April 3, 2001
CONTACT:   G. Alex Crispo, Sr. VP and Legal Counsel
E-mail Alex
973-467-8005, ext. 1243

NJ Insurance Agencies Merge

Dunlop, Onderdonk & Wilson (DOW) Insurance Agency, based in Wayne, NJ and founded in 1967, has merged with Bollinger, Inc. of Short Hills, NJ.  The merger will bring Bollinger’s commission revenues up to $47.5 million and will enable Bollinger to solidify its position as the 36^th largest insurance agency and the 16^th largest privately held agency in the country.

DOW will continue to operate from its office in Wayne.  Robert L. Kleiner, vice president, will manage the ongoing operations of DOW.

Jack Windolf, Chairman and CEO of Bollinger, expressed his pleasure with the DOW merger by saying, “The reputation of DOW and its very capable employees along with the quality of its customer base are the key ingredients of this transaction.  We are pleased to have the DOW employees join Bollinger and we are sure that we can offer continued job satisfaction and good career choices to them.  We are sorry that DOW executives Bill Hayden, chairman, and Brian Emerson, president and CEO, are retiring.  Their talents will be missed.  But we look forward to working with Bob Kleiner, who has the reputation of being a good, solid insurance executive.”

Indicative of the consolidation trend now occurring in the insurance agency industry, this is the 15^th acquisition by Bollinger in recent years.  These acquisitions have enabled Bollinger to become one of the country’s largest agencies and to transform itself from a regional insurance operation known for its specialty products, to a national firm offering a wide variety of insurance products and services to a diverse customer base.

Source: Bollinger, Inc.