Hilb Rogal & Hobbs Agrees to Acquire the Urman Company.

RICHMOND, Va. -- Hilb Rogal & Hobbs Company (NYSE: HRH), one of the world's largest insurance and risk management intermediaries, announced today that it has signed a definitive agreement to acquire the stock of The Urman Company, a Denver-based retail employee benefits and property and casualty

Founded in 1970 as a brokerage for the insurance needs of school executives and for the employee benefits plans for Colorado school districts, the current incarnation of The Urman Company (Urman) was formed by its current CEO and owner, Frank Urman, in 1988. With annualized revenues of approximately $4.7 million in 2006, Urman has developed extensive expertise in managing public educational entities and municipalities. The company's staff of 54 professionals plans to continue operating out of their existing locations, which include additional branches in Dillon and Brighton, Colorado and Cheyenne, Wyoming. Urman will join HRH's West Region under the leadership of Vice President and West Regional Director, William F. Creedon.

Mr. Urman commented, "Becoming a part of HRH is a natural progression for our company: HRH's business model, values and strategic direction are a good fit for our customers and employees. Additionally, their size and national presence bring resources, expertise, and opportunities that we simply couldn't provide on our own. We are excited to begin working as HRH."

HRH Chairman and Chief Executive Officer Martin L. (Mell) Vaughan, III, commented, "HRH is excited to add The Urman Company's educational and public entity trust expertise to our list of capabilities. By incorporating Urman's niche products and services with HRH's broad array of capabilities, we will be implementing one of our strategic principles to enhance our clients' experience through increasing specialization by industry and line of coverage. We look forward to welcoming Frank Urman and his team of professionals into the HRH family."

Hilb Rogal & Hobbs Company (HRH) is the eighth largest insurance intermediary in the United States, with over 120 offices throughout the United States and the world. HRH helps clients manage their risks in property and casualty, employee benefits, professional liability and other areas of specialized exposure. In addition, HRH offers a full range of personal and corporate financial products and services. HRH is focused on understanding our clients' businesses, employees and risks, as well as the insurance and financial markets, so that we can develop insurance, risk management, and employee benefits solutions that best fit their needs. The company's common stock is traded on the New York Stock Exchange, symbol HRH. More information about HRH may be found at www.hrh.com.