The Navigators Group, Inc. is followed by a group of analysts who make independent opinions of our performance. Please note that any opinions, estimates or forecasts regarding The Navigators Group, Inc.'s performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of The Navigators Group, Inc. or its management. The Navigators Group, Inc. does not by its reference above or distribution imply its endorsement of or concurrence with such information, conclusions or recommendations.

Credit Suisse
Vinay Misquith, 212-538-4221

Friedman, Billings, Ramsey & Co.
Randy Binner, 703-312-1890

Keefe, Bruyette & Woods, Inc.
Robert Farnam, 860-722-5901

RBC Capital Markets
Scott Heleniak, 804-782-4006

Macquarie Securities Group
Amit Kumar, 212-231-8013

Sidoti & Company, LLC
Robert Paun, 212-894-3352

Oppenheimer & Co. Inc.
Jeffrey Cohen, 212-667-7244

Sandler O'Neill + Partners, L.P.
Paul Newsome, 312-281-3445
Edward Shields, 312-281-3487