LOGO    UNIVERSAL
     INSURANCE HOLDINGS, INC.


                                                             UNIVERSAL INSURANCE
                                                         HOLDINGS, INC. DECLARES
                             TEN CENT CASH DIVIDEND


FORT LAUDERDALE, FL, AUGUST 15, 2008 - UNIVERSAL INSURANCE HOLDINGS, INC.
("UIH") (AMEX: UVE), a vertically integrated insurance holding company,
announced today that its board of directors declared a dividend of $0.10 per
share on its common stock. The dividend is payable on October 30, 2008 to
shareholders of record as of October 2, 2008.

The board of directors' decision to declare a dividend of ten cents reflects the
Company's positive results and profits during the second quarter ended June 30,
2008, as detailed in its most recently filed Form 10-Q with the Securities and
Exchange Commission. Future cash dividend payments are necessarily subject to
business conditions, the Company's financial position, and requirements for
working capital and other corporate purposes. The Company's board of directors
intends to evaluate the possibility of paying future dividends on a quarter-by-
quarter basis.

ABOUT UNIVERSAL INSURANCE HOLDINGS, INC.
The Company is a vertically integrated insurance holding company operating
solely in the state of Florida. Through its subsidiaries, the Company is
currently engaged in insurance underwriting, distribution and claims. Universal
Property & Casualty Insurance Company (UPCIC), which generates revenue from the
collection and investment of premiums, is one of the top five leading writers of
homeowners insurance in the state of Florida and has aligned itself with well
respected service providers in the industry.

CAUTIONARY LANGUAGE CONCERNING FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. The words "believe,"
"expect," "anticipate," and "project," and similar expressions identify forward-
looking statements, which speak only as of the date the statement was made. Such
statements may include, but not be limited to, projections of revenues, income
or loss, expenses, plans, and assumptions relating to the foregoing. Forward-
looking statements are inherently subject to risks and uncertainties, some of
which cannot be predicted or quantified. Future results could differ materially
from those described in forward-looking statements.

INVESTOR CONTACT:
Philip Kranz, Dresner Corporate Services, 312-780-7240, pkranz@dresnerco.com
                                                        --------------------