Exhibit 99.1
NEWS BULLETIN
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Old Republic International Corporation
307 North Michigan Avenue, Chicago, IL 60601-5382 312/346-8100
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For Further Information:
AT OLD REPUBLIC: AT FINANCIAL RELATIONS BOARD:
A.C. Zucaro George Zagoudis
Chairman & CEO General Information
(312) 346-8100 (312) 640-6663
gzagoudis@financialrelationsboard.com
AT FINANCIAL RELATIONS BOARD: AT FINANCIAL RELATIONS BOARD:
Leslie Loyet Tim Grace
Analysts/Investors Media Inquiries
(312) 640-6672 (312) 640-6667
lloyet@financialrelationsboard.com tgrace@financialrelationsboard.com
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FOR IMMEDIATE RELEASE NYSE: ORI
TUESDAY, MARCH 8, 2005
OLD REPUBLIC INTERNATIONAL CORPORATION
RAISES CASH DIVIDEND ON COMMON STOCK
CHICAGO, IL - March 8, 2005 - The Board of Directors of Old Republic
International Corporation (NYSE: ORI) announced it will raise the regular
quarterly cash dividend on its common stock to 17 cents per share beginning with
the 2005 second quarter dividend. This represents a 30.8 percent increase from
the current quarterly dividend rate of 13 cents per share. The second quarter
dividend is usually declared at the May board meeting.
This increase will mark the twenty-fourth consecutive year that Old Republic has
boosted its cash dividend rate. The company has paid cash dividends without
interruption for 64 years.
"On an annualized basis, the new dividend rate falls within our policy of paying
out 20 to 30 percent of average recurring earnings for the latest five years,"
said Chairman and Chief Executive Officer A. C. Zucaro. "Our ability to provide
these recurring increases in cash dividends to our shareholders reflects our
confidence in the prospects of our business as a solid, long-term investment."
About Old Republic
Chicago-based Old Republic International Corporation is an insurance holding
company whose subsidiaries market, underwrite and provide risk management
services for a wide variety of coverages in the property and liability, mortgage
guaranty and title insurance fields. One of the nation's 50 largest publicly
owned insurance organizations, Old Republic has assets of approximately $10.6
billion and shareholders' equity of $3.87 billion. Its current stock market
valuation is approximately $4.39 billion.
For the latest news releases and other corporate documents on Old Republic
International visit www.oldrepublic.com
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