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Contacts:
Susan Boyle / Jessica Riccardi
MWW Group (for ISO)
201-507-9500
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Mike Gannon (AIR)
617-267-6645
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AIR Worldwide Releases CATStation: An Integrated Software Platform for Exposure Concentration Control and Catastrophe Risk Underwriting

BOSTON, July 10, 2003 — AIR Worldwide Corporation (AIR) announces the release of CATStationTM,an exposure accumulation control and catastrophe risk underwriting system. CATStation is a comprehensivesystem designed for underwriters of property, workers compensation, and other insurance lines seekingcatastrophe information for real-time decisions consistent with corporate guidelines. CATStationis a browser-based application that incorporates three progressively rigorous modules: exposure concentrationanalysis, hazard analysis and loss analysis. Underwriters can use CATStation to make decisions basedon accumulations, proximity to natural hazards and terrorist targets, and catastrophe loss potential.

"It is important to understand and map where exposures are located, but CATStation goes beyond simply mapping concentrations of exposures," said Uday Virkud, senior vice president at AIR. "It maps exposures by their proximity to hazards, such as likely terrorist targets included in AIR's comprehensive landmark database. CATStation also provides insurers with vital hazard characteristics associated with a risk and the ability to run a full probabilistic loss analysis. Output provides the expected loss and probable maximum loss for natural and man-made perils, making it a complete underwriting decision-making tool."

CATStation, which is available immediately, offers insurers a fully integrated, scalable and flexible application. It provides insurers all relevant catastrophe information from a single source as underwriting decisions are being made. CATStation's architecture allows insurers to license only the modules needed for the perils that impact their book of business. It can be hosted on an insurer's intranet, by AIR via the Internet, or implemented as an application programming interface (API), enabling companies to integrate it directly with existing underwriting systems. Its rules-based engine allows users to incorporate individual underwriting rules within each module to determine if a policy complies with individual company guidelines.

Three Powerful Modules
CATStation's exposure concentration module allows insurers to measure how many properties in a given area are exposed to natural and man-made catastrophes. It provides users access to AIR's extensive database of potential terrorist targets. Initial policy decisions can be made based on each company's exposure accumulations and underwriting guidelines. Due to the widening impact of catastrophes across lines of business, the exposure concentration module can analyze property, workers compensation, life, accident and disability, and general liability losses.

The hazard analysis module of CATStation gives users the ability to easily assess hurricane, earthquake, flood and severe thunderstorm hazards facing individual property locations. CATStation provides information on distance to active earthquake faults, storm surge potential, detail on historical tornadoes and other hazard-related information.

The loss analysis module of CATStation enables insurers to run full probabilistic loss analyses for individual properties. The system takes full account of risk-specific structural details, occupancy, age, height, and locational characteristics, such as site-specific geographical or geological information. Considering the location, construction, and occupancy of the property, CATStation will estimate the loss potential through an analysis by AIR's sophisticated natural and man-made catastrophe models.

About AIR Worldwide Corporation
AIR Worldwide Corporation (AIR) is the technological leader in catastrophe and weather risk modeling.Through its web-based and computer software solutions (ClimateCastSM,CLASIC/2TM, CATRADER®, CATMAP®/2,AIRProfiler®), AIR services the insurance, reinsurance and capitalmarkets. AIR's models simulate losses from both man-made and natural catastrophes in more than 35countries. AIR is headquarteredin Boston and has additional offices in North America, Europe and Asia. For more information, pleasevisit the AIR website at www.air-worldwide.com.

About ISO
ISO is a leading source of information, products and services related to property and liability risk. For a broad spectrum of commercial and personal lines of insurance, ISO provides data, analytical and decision-support products; consulting; data processing; and technical, statistical and actuarial services. ISO field services include on-site rating and underwriting services and the evaluation of community loss-mitigation efforts. ISO's products help customers with sales and prospecting, underwriting, rating and quoting, customer management, policy administration, product development, claims administration and fraud detection. ISO's AIR Worldwide subsidiary provides technologies to assess and manage natural and man-made extreme-event risk. Through its ISO Claims Services, Inc. (iiX unit) and Intellicorp subsidiaries, ISO provides motor vehicle reports and criminal-records information and through its AscendantOne unit delivers rating, quoting and policy-administration solutions. In the United States and around the world, ISO serves insurers, reinsurers, agents, brokers, self-insureds, risk managers, insurance regulators and other government agencies.