ProCentury Corporation Announces Initial Public Offering of Common Shares COLUMBUS, Ohio, April 20 /PRNewswire-FirstCall/ -- PROCENTURY CORPORATION announced today that its initial public offering of 8,900,000 Common Shares has been priced at $10.50 per share. ProCentury is offering 8,000,000 Common Shares and two selling shareholders are offering the other 900,000 Common Shares. In addition, the Company has granted the underwriters an option to purchase from the Company an additional 1,335,000 common shares to cover over-allotments, if any. Friedman Billings Ramsey & Co. is acting as sole book-running manager of the initial public offering with A.G. Edwards & Sons, Inc. and Raymond James acting as co-managers. A prospectus relating to the offering may be obtained, when available, from Friedman Billings Ramsey & Co., Inc., 1001 19th Street North, Arlington, Virginia 22209. An electronic copy of the prospectus will also be available from the Securities and Exchange Commission's website at http://www.sec.gov/ . About ProCentury Corporation ProCentury Corporation (NASDAQ:PROS) is a specialty property and casualty insurance holding company. Though its subsidiary, Century Surety Company, the Company underwrites general liability, commercial property and multi-peril insurance for small and mid-sized businesses. ProCentury primarily writes excess and surplus lines insurance and markets its products through a select network of general agents and brokers. A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on April 20. This Press Release shall not constitute an offer to sell or the solicitation of an offer to buy nor there shall 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 such state. DATASOURCE: ProCentury Corporation CONTACT: Edward Feighan, Chief Executive Officer of ProCentury Corporation, +1-614-895-2000 Web site: http://www.procentury.com/

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