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SHORT HILLS, N.J.; July 5, 2000. Bollinger, Inc., one of New Jersey’s largest insurance agencies, announces its acquisition of R&F of New York, Inc. located in New York City and Barrett, Richards & Fenniman, Inc. located in Bronxville, New York. Both acquisitions are effective as of July 1, 2000.

With the R&F and Barrett, Richards & Fenniman acquisitions, Bollinger’s commission revenues will exceed $37.5 million, solidifying Bollinger’s position as the 30^th largest insurance agency in the country and the 15^th largest privately held agency. Bollinger’s origins date back to 1876. The firm is well known for its nationwide distribution of specialty insurance products for amateur athletes, students in both K-12 and colleges, and golf and country clubs. In addition, Bollinger is a leading provider of insurance for businesses and families in the New Jersey-New York metropolitan area.

James A. Fenniman, President of R&F of New York, has been named Executive Vice President of Bollinger, Inc. and has become a stockholder. R&F, with specialties in habitational risks and professional liability insurance, will operate as a separate profit center and operating division of Bollinger. John A. Windolf, CLU, CPCU, Chairman and CEO of Bollinger commented, "We are extremely pleased to have reputable professionals like James Fenniman and his staff join the Bollinger team. We look forward to continuing to service the R&F and Barrett, Richards & Fenniman customers and to build upon those excellent, long standing relationships which Fenniman and his staff have established.

Indicative of the consolidation trend now occurring in the insurance agency industry, this is the 12^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.