Fortis, Inc. Files Registration Statement for Initial Public Offering of Common Stock

NEW YORK, NY, October 24, 2003—Fortis, Inc., under its planned name Assurant, Inc., filed with the U.S. Securities and Exchange Commission (SEC) a registration statement relating to the initial public offering of shares of its common stock. The common stock offered in the IPO will be sold by Fortis Insurance NV.

Prior to the closing of this offering, Fortis, Inc. will merge with and into the newly established Assurant, Inc. As a result, Assurant, Inc. will be domiciled in Delaware and will be the successor to the business, operations and obligations of Fortis, Inc. The company will use the name Assurant, Inc.

The lead underwriters for this offering currently are Morgan Stanley, Merrill Lynch and Crédit Suisse First Boston. The timing of the initial public offering will be dependent on completion of all necessary financial and regulatory requirements, as well as prevailing market conditions.

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.