<Page>
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: ) DEBTOR IN POSSESSION OPERATING REPORT
)
SN INSURANCE SERVICES ) REPORT NUMBER 11 Page 1 of 3
) FOR THE PERIOD FROM: 01-Feb-01
DEBTOR ) TO: 28-Feb-01
)
CHAPTER 11 CASE NO. SV00-14100-GM )
1. Profit and Loss Statement Please see Attached Schedule A
A. Related to Business Operations:
Gross Sales ___________
Less Sales Returns and Discounts ___________
Net Sales ___________
Less: Cost of Goods Sold
Beginning Inventory at Cost ___________
Add: Purchases ___________
Less: Ending Inventory at Cost ___________
Cost of Goods Sold ___________
Gross Profit ___________
Other Operating Revenue (Specify) ___________
Less: Operating Expenses
Officer Compensation ___________
Salaries & Wages-Other Employees ___________
Total Salaries & Wages ___________
Employee Benefits ___________
Payroll Taxes ___________
Real Estate Taxes ___________
Federal and State Income Taxes ___________
Total Taxes ___________
Rent and Lease Exp. (Real and
Personal Property) ___________
Interest Expense (Mortgage,
Loan, etc.) ___________
Insurance ___________
Automobile Expense ___________
Utilities (Gas, Electric, Water,
Telephone, etc.) ___________
Depreciation and Amortization ___________
Repairs and Maintenance ___________
Advertising ___________
Supplies, Office Expenses,
Photocopies, etc. ___________
Bad Debts ___________
Miscellaneous Operating Expenses
(Specify) ___________
Total Operating Expenses ___________
Net Gain/(Loss) from Business
Operations ___________
B. Not Related to Business Operations ___________
Income:
Interest Income ___________
Other Non-Operating Revenues
(Specify) ___________
Gross Proceeds on Sale of Assets ___________
Less: Original Cost of Assets
plus Expenses of Sale ___________
Net Gain/(Loss) on Sale of
Assets ___________
Total Non-Operating Income ___________
Expenses Not Related to Business
Operations:
Legal and Professional Fees ___________
Other Non-Operating Revenues
(Specify) ___________
Total Non-Operating Expenses ___________
NET INCOME/(LOSS) FOR PERIOD ===========
Revised April 1989 OPERATING REPORT UST-4
<Page>
DEBTOR IN POSSESSION OPERATING REPORT NO. 11
Page 2 of 3
2. Aging of Accounts Payable and Receivable (exclude pre-petition debt from
accounts payable):
<Table>
<Caption>
Accounts Payable Accounts Receivable
---------------- -------------------
Current Under 30 days $0 $0
Overdue 31-60 days $0 $0
Overdue 61-90 days PLEASE SEE ATTACHED SCHEDULE B
Overdue 91-120 days $0 $0
Overdue 121 + days $0 $0
Total $0 $0
</Table>
3. Statement of Status of Payments to Secured Creditors and Lessors:
<Table>
<Caption>
Post-Petition
Frequency of Payments Not Made
Payments per Amount of -----------------
Creditor/Lessor Lease/Contract Each Payment Next Payment Due Number Amount
- --------------- -------------- ------------ ---------------- ------ ------
SEE ATTACHED SCHEDULE C
</Table>
4. Tax Liability:
Gross Payroll Expense For Period $153,041
Gross Sales for Period Subject to Sales Tax $0
<Table>
<Caption>
Post Petition Taxes
Date Paid Amount Paid* Still Owing
----------------- ------------ -------------------
Federal Payroll and Withholding Taxes 2/15/01 & 2/28/01 $45,119 0
State Payroll and Withholding Taxes 2/15/01 & 2/28/01 $6,549 0
State Sales and Use Tax N/A $0 N/A
Real Property Taxes N/A $0 N/A
</Table>
ALL PAYROLL TAXES PAID BY ADP
* Attach photocopies of depository receipts from taxing
authority or financial institution to verify that such
deposits or payments have been made.
5. Insurance Coverage
<Table>
<Caption>
Carrier/ Amount of Policy Premium Paid
Agent Coverage Exp. Date Thru Date
---------------------- --------- --------- -------------
Worker's Compensation See Schedule D
Liability See Schedule E
Fire and Extended Coverage See Schedule E
Property See Schedule E
Theft See Schedule E
Life (Beneficiary:__________) See Schedule E
Vehicle See Schedule E
Other See Schedule E
</Table>
<Page>
DEBTOR IN POSSESSION OPERATING REPORT NO. 11
Page 3 of 3
6. Questions:
A. Has the Debtor provided to any officers, directors, shareholders, or
other principals compensation without the approval of the Office of the
United States Trustee?
-----: Yes Explain:
--------------------------------------------
X : No
-----
B. Has the Debtor, subsequent to the filing of the petition made any payments
on its pre-petition unsecured debt, except as have been authorized by the
Court?
-----: Yes Explain:
--------------------------------------------
X : No
-----
7. Statement of Unpaid Professional Fees (Post-Petition Only):
<Table>
<Caption>
Type Post-Petition
Name of Professional Professional Unpaid Total
-------------------- ------------ -------------
See Schedule F
</Table>
8. Narrative Report of Significant Events And Events Out Of The Ordinary Course
Of Business:
9. Quarterly Fees: (This Fee must be paid to the United States Trustee every
calendar quarter)
<Table>
<Caption>
Quarterly
Quarterly Disbursements Quarterly Quarterly
Period Ending for Quarter Fee Date Paid Amount Paid Check No. Fee Still Owing
- ------------- ----------- --- --------- ----------- --------- ---------------
12/31/2000 $17,852,466.00 $10,000.00 2/12/2001 $10,000.00 1157 $0.00
</Table>
I, Alex Corbett-Chief Financial Officer, declare under penalty of perjury
that the information contained in the above Debtor in Possession Operating
Report is true and complete to the best of my knowledge.
Dated: 4/18/01 Signed: /s/ Alex Corbett
----------------------- -----------------------------------
<Page>
SCHEDULE A
SNIG, BIG, SNIA and SNIS
SCHEDULE OF OPERATIONS
ONE MONTH ENDED FEBRUARY 28, 2001
(BANKRUPTCY FILED APRIL 26, 2000)
(UNAUDITED)
<Table>
<Caption>
(In thousands) CONSOLIDATED
SNIG BIG SNIA SNIS ELIMINATION TOTAL
----------- ----------- ----------- ----------- ------------- --------------
Revenues:
Commission income $ - $ - $ - $ 45 $ - $ 45
Net investment income 13 (7) 3 77 - 85
----------- ----------- ----------- ----------- ------------- --------------
TOTAL REVENUES 13 (7) 3 122 - 131
----------- ----------- ----------- ----------- ------------- --------------
Expenses:
Interest expense 869 - - - - 869
Bad debt expense - - - (A) 26 (A) - 26
General and administrative
Other (511) - 246 1,053 - 788
----------- ----------- ----------- ----------- ------------- --------------
TOTAL EXPENSES 358 - 246 1,079 - 1,683
----------- ----------- ----------- ----------- ------------- --------------
INCOME (LOSS) BEFORE INCOME TAXES AND
PREFERRED SECURITIES DIVIDENDS AND ACCRETION (345) (7) (243) (957) - (1,552)
Income tax (benefit) expense - - - - - -
----------- ----------- ----------- ----------- ------------- --------------
INCOME (LOSS) BEFORE PREFERRED SECURITIES
DIVIDENDS AND ACCRETION (345) (7) (243) (957) - (1,552)
Preferred securities dividends and accretion (1,093) - - - - (1,093)
Expenses not related to business operations:
Legal and Professional Fees (313) (1) - (8) - (322)
Other non-operating expenses 9 (10) - - - (1)
----------- ----------- ----------- ----------- ------------- --------------
(1,743) (18) (243) (965) - (2,968)
Equity in net income (loss) from subsidiaries (1,218) (1,200) - - 2,426 8
----------- ----------- ----------- ----------- ------------- --------------
NET (LOSS) INCOME $ (2,960) $ (1,218) $ (243) $ (965) $ 2,426 (2,960)
=========== =========== =========== =========== ============= ==============
</Table>
(A) Amount reflects a recording of an allowance for bad debt on collection of
commissions receivable. Debtor continues to assert rights of offset and
other methods to effectuate collection.
SCHEDULE B
SUPERIOR NATIONAL INSURANCE GROUP, INC. IN BANKRUPTCY
AGING OF ACCOUNTS PAYABLE AND RECEIVABLE
AS OF FEBRUARY 28, 2001
<Table>
<Caption>
SUPERIOR NATIONAL INSURANCE GROUP
NON-INTERCOMPANY ACCOUNTS INTERCOMPANY ACCOUNTS
-------------------------------------- -------------------------------------
ACCOUNTS PAYABLE ACCOUNTS RECEIVABLE ACCOUNTS PAYABLE ACCOUNTS RECEIVABLE
---------------- ------------------- ---------------- -------------------
Current Under 30 days 992,185 15,000 - 1,043,941
Overdue 31 - 60 days (636) - - 815,765
Overdue 61 - 90 days - 99,166 5,237,080 177,616 (D)
Overdue 91 - 120 days 7,000 18,026 - 3,581
Overdue 121 + days 545,622 12,362 1 643,010
---------------- ------------------- ---------------- -------------------
Total $ 1,544,172 $ 144,553 (A) $ 5,237,081 $ 2,683,912
---------------- ------------------- ---------------- -------------------
BUSINESS INSURANCE GROUP
NON-INTERCOMPANY ACCOUNTS INTERCOMPANY ACCOUNTS
-------------------------------------- -------------------------------------
ACCOUNTS PAYABLE ACCOUNTS RECEIVABLE ACCOUNTS PAYABLE ACCOUNTS RECEIVABLE
---------------- ------------------- ---------------- -------------------
Current Under 30 days - - 11,000 -
Overdue 31 - 60 days - - 11,000 -
Overdue 61 - 90 days - - - 5,237,080 (D)
Overdue 91 - 120 days - - - -
Overdue 121 + days - 601,265 - 14,963,854
---------------- ------------------- ---------------- -------------------
Total $ - $ 601,265 $ 22,000 $ 20,200,934
---------------- ------------------- ---------------- -------------------
SUPERIOR NATIONAL INSURANCE SERVICES
NON-INTERCOMPANY ACCOUNTS INTERCOMPANY ACCOUNTS
-------------------------------------- -------------------------------------
ACCOUNTS PAYABLE ACCOUNTS RECEIVABLE ACCOUNTS PAYABLE ACCOUNTS RECEIVABLE
---------------- ------------------- ---------------- -------------------
Current Under 30 days 219,733 49,886 848,208 12,081
Overdue 31 - 60 days 39,475 64,313 634,067 12,491
Overdue 61 - 90 days 18,863 382,094 (0) 18,855
Overdue 91 - 120 days 34,359 156,488 (0) 32,445
Overdue 121 + days 769,489 11,854,092 (0) 660,045
---------------- ------------------- ---------------- -------------------
Total $ 1,081,918 $ 12,506,874 (B) $ 1,482,275 $ 735,717
---------------- ------------------- ---------------- -------------------
SUPERIOR NATIONAL INSURANCE GROUP
ADMINISTRATORS
NON-INTERCOMPANY ACCOUNTS INTERCOMPANY ACCOUNTS
-------------------------------------- -------------------------------------
ACCOUNTS PAYABLE ACCOUNTS RECEIVABLE ACCOUNTS PAYABLE ACCOUNTS RECEIVABLE
---------------- ------------------- ---------------- -------------------
Current Under 30 days 58,864 - 196,814 -
Overdue 31 - 60 days - - 183,388 -
Overdue 61 - 90 days (0) - 196,271 -
Overdue 91 - 120 days - - 36,026 -
Overdue 121 + days 89,789 6,377,198 974,992 96,383
---------------- ------------------- ---------------- -------------------
Total $ 148,653 $ 6,377,198 (C) $ 1,587,490 $ 98,383
---------------- ------------------- ---------------- -------------------
CONSOLIDATED
NON-INTERCOMPANY ACCOUNTS INTERCOMPANY ACCOUNTS
-------------------------------------- -------------------------------------
ACCOUNTS PAYABLE ACCOUNTS RECEIVABLE ACCOUNTS PAYABLE ACCOUNTS RECEIVABLE
---------------- ------------------- ---------------- -------------------
Current Under 30 days 1,270,782 64,886 1,056,022 1,056,022
Overdue 31 - 60 days 38,840 64,313 828,456 828,256
Overdue 61 - 90 days 18,863 481,260 5,433,351 5,433,351
Overdue 91 - 120 days 41,359 174,514 36,026 36,026
Overdue 121 + days 1,404,900 18,844,917 974,993 16,365,292
---------------- ------------------- ---------------- -------------------
Total $ 2,774,743 $ 19,629,890 $ 8,328,847 $ 23,718,946
---------------- ------------------- ---------------- -------------------
</Table>
(A) Amounts in accounts payable do not include interest due and accrued on
bank loan and Trust Preferred Securities.
(B) Amounts shown in accounts receivable do not include recorded amounts on
allowance for bad debt on collection of commissions receivable, in
which the Debtor continues to assert rights of offset and other methods
to effectuate collection.
(C) Amounts shown in accounts receivable do not include recorded amounts on
allowance for bad debt on collection of claims administration fee, in
which the Debtor continues to assert rights of offset and other methods
to effectuate collection.
(D) Amounts include a payment of $5.4 million pursuant to an Order
Authorizing Release of Escrowed Funds to the Bank Group Pursuant to
Stipulation dated November 9, 2000. The $5.4 million was paid from BIG
for interest expense accrued on SNIG.
<Page>
SCHEDULE C
FEBRUARY 28, 2001
SNIG
3. Statement of Status of Payments to Secured Creditors and Lessors:
<Table>
<Caption>
- ----------------------------------------------------------------------------------------------------------------------------------
Post-Petition
Frequency of Payments Not Made
Payments per Amount of ------------------------------
Creditor/Lessor Lease/Contract Each Payment Next Payment Due Number Amount
- ----------------------------------------------------------------------------------------------------------------------------------
Dell Financial Services Monthly $ 8,931.85 12/20/2000 SEE NOTE B
IKON Office Solutions, Inc. / IOS Capital Monthly $ 1,395.65 11/23/00, 11/15/00 SEE NOTE B
Pitney Bowes Credit Corp. Monthly $ 4,810.67 12/10/00, 12/20/00, 12/1/00 SEE NOTE B
Pitney Bowes Credit Corp. Quarterly $ 7,394.15 12/10/00, 11/10/00 SEE NOTE B
Stringer business Systems Inc. Monthly $ 2,163.51 12/1/2000 SEE NOTE B
12/24/00, 12/6/00, 12/11/00,
Toshiba American Information Sys. Monthly $ 8,170.39 12/1/00, 12/18/00 SEE NOTE B
Trizec Kahn Properties Monthly $226,076.40 2/1/2001 SEE NOTE C
Bettman Real Estate Management Monthly $ 1,932.33 2/1/2001 SEE NOTE A & NOTE C
- ---------------------------------------------------------------------------------------------------------------------------------
</Table>
Amounts above do not include bank loan in default, which are partially
secured by stock of Superior National Insurance Group, Inc. and its
subsidiaries.
* MONTHLY PAYMENT IS BASED ON NUMBER OF COPIES MADE FOR THE PREVIOUS MONTH,
THEREFORE PAYMENT VARIES EACH MONTH.
NOTE A: PER THE CLO, THEY HAVE DISCONTINUED PAYING THE LEASE AS OF 4/2000
AND SUPERIOR HAS NOT OCCUPIED THIS OFFICE FOR A NUMBER OF MONTHS.
NOTE B: THESE LEASES WERE WITHDRAWN FROM THE MOTION FILED ON JANUARY 19,
2001 BASED UPON THE REPRESENTATION THAT THE CLO WILL REMAIN CURRENT
ON ALL MONETARY OBLIGATIONS UNDER THE LEASES UNTIL THE DEBTORS RECEIVE
INSTRUCTION FROM THE CLO ON THE ASSUMPTION OR REJECTION OF THESE
LEASES BY APRIL 15, 2001.
NOTE C: THESE LEASES WERE AUTOMATICALLY DEEMED REJECTED BY OPERATION OF LAW.
BIG
3. Statement of Status of Payments to Secured Creditors and Lessors:
<Table>
<Caption>
- ----------------------------------------------------------------------------------------------------------------------------------
Post-Petition
Frequency of Payments Not Made
Payments per Amount of ------------------------------
Creditor/Lessor Lease/Contract Each Payment Next Payment Due Number Amount
- ----------------------------------------------------------------------------------------------------------------------------------
Dell Financial Services Monthly $ 52,321.29 12/15/2000 SEE NOTE C
Zodiac Development Monthly $ 9,454.31 1/1/2001 SEE NOTE D
Koger Realty Services Inc. (San Diego, CA) Monthly $ 26,600.89 1/1/2001 SEE NOTE D
Colonial Property Trust Monthly $ 5,433.98 1/1/2001 SEE NOTE B & NOTE D
Fults Realty Corporation Monthly $ 15,362.95 1/1/2001 SEE NOTE A & NOTE D
Woodland III Holding, LLC / c/oWasatch
Property Management Monthly $ 12,940.15 1/1/2001 SEE NOTE B & NOTE D
- ----------------------------------------------------------------------------------------------------------------------------------
</Table>
Amounts above do not include bank loan in default, which are partially
secured by stock of Superior National Insurance Group, Inc. and its
subsidiaries.
NOTE A: PER THE CLO, THEY ARE IN THE PROCESS OF MOVING AND/OR SELLING THE
FURNITURE & FIXTURES AT THIS LOCATION AND EXPECT TO VACATE THIS
PREMISE BY THE END OF 11/2000. THE CLO HAS DISCONTINUED PAYING
RENT FOR THIS LEASE AS OF 7/2000.
NOTE B: PER THE CLO, THEY HAVE DISCONTINUED PAYING THE LEASE AS OF 4/2000
AND SUPERIOR HAS NOT OCCUPIED THIS OFFICE FOR A NUMBER OF MONTHS.
NOTE C: THIS LEASE WAS WITHDRAWN FROM THE MOTION FILED ON JANUARY 19, 2001
BASED UPON THE REPRESENTATION THAT THE CLO WILL REMAIN CURRENT ON ALL
MONETARY OBLIGATIONS UNDER THE LEASE UNTIL THE DEBTORS RECEIVE
INSTRUCTION FROM THE CLO ON THE ASSUMPTION OF REJECTION OF THIS LEASE
BY APRIL 15, 2001.
NOTE D: THESE LEASES WERE AUTOMATICALLY DEEMED REJECTED BY OPERATION OF LAW.
SNIA
3. Statement of Status of Payments to Secured Creditors and Lessors:
<Table>
<Caption>
- ----------------------------------------------------------------------------------------------------------------------------------
Post-Petition
Frequency of Payments Not Made
Payments per Amount of ------------------------------
Creditor/Lessor Lease/Contract Each Payment Next Payment Due Number Amount
- ----------------------------------------------------------------------------------------------------------------------------------
NONE
- ----------------------------------------------------------------------------------------------------------------------------------
</Table>
Amounts above do not include bank loan in default, which are partially
secured by stock of Superior National Insurance Group, Inc. and its
subsidiaries.
SNIS
3. Statement of Status of Payments to Secured Creditors and Lessors:
<Table>
<Caption>
- ----------------------------------------------------------------------------------------------------------------------------------
Post-Petition
Frequency of Payments Not Made
Payments per Amount of ------------------------------
Creditor/Lessor Lease/Contract Each Payment Next Payment Due Number Amount
- ----------------------------------------------------------------------------------------------------------------------------------
NONE
- ----------------------------------------------------------------------------------------------------------------------------------
</Table>
Amounts above do not include bank loan in default, which are partially
secured by stock of Superior National Insurance Group, Inc. and its
subsidiaries.
<Page>
SCHEDULE D
Superior National Insurance Group, Inc. in Bankruptcy
Debtor in Possession
Insurance Coverage
As of February 28, 2001
<Table>
<Caption>
- ----------------------------------------------------------------------------------------------------------------------------------
Amount of Policy Premium Paid
State Carrier Agent Coverage Exp. Date Thru Date
- ----------------------------------------------------------------------------------------------------------------------------------
Arizona Liberty Mutual Group Di Buduo & De Fendis Statutory 12-Jul-01 12-Jul-01
Arkansas Liberty Mutual Group Di Buduo & De Fendis Statutory 12-Jul-01 12-Jul-01
California State Compensation Insurance Fund Di Buduo & De Fendis Statutory 01-Jun-01 01-Jun-01
Colorado Pinnacol Assurance Di Buduo & De Fendis Statutory 01-Jun-01 01-Jun-01
Georgia Liberty Mutual Group Di Buduo & De Fendis Statutory 12-Jul-01 12-Jul-01
Illinois Liberty Mutual Group Di Buduo & De Fendis Statutory 12-Jul-01 12-Jul-01
Kansas Travelers Insurance Company Di Buduo & De Fendis Statutory 11-Aug-01 11-Aug-01
Missouri Travelers Property & Casualty Di Buduo & De Fendis Statutory 02-Jun-01 02-Jun-01
New Jersey Granite State Insurance Company Di Buduo & De Fendis Statutory 02-Jun-01 02-Jun-01
Oklahoma State Insurance Fund Di Buduo & De Fendis Statutory 15-Nov-01 15-Nov-01
Pennsylvania State Workmens' Insurance Fund Di Buduo & De Fendis Statutory 03-Jun-01 03-Jun-01
Texas Texas W/C Insurance Fund Di Buduo & De Fendis Statutory 18-Jul-01 18-Jul-01
Virgina Travelers Insurance Company Di Buduo & De Fendis Statutory 11-Aug-01 11-Aug-01
- ----------------------------------------------------------------------------------------------------------------------------------
</Table>
Note 1: The policies for Florida, Indiana, Louisiana, New Mexico, New York,
Oregon, Tennessee, Utah, and Wisconsin were all requested to be cancelled in
December 2000.
Note 2: Within all of the policies identified above the following entities
are covered for Workers' Compensation: SNIG, BIG, SNIA, and SNIS.
Note 3: The polices for Arkansas, Arizona, Georgia, & Illinois are all
covered on one policy, which is inforce, even though AR & GA offices are
closed.
Note 4: A Virginia employee was added to the Kansas policy.
<Page>
FEBRUARY 28, 2001 SCHEDULE E
<Table>
<Caption>
POLICY PREMIUM PAID
COMPANY AGENT TYPE OF INSURANCE AMOUNT OF COVERAGE EXP. DATE THRU DATE
- ------------ ------------------ ------------------------------------- -------------------------- ---------- ------------
SNIG, BIG, DiBudio & DeFendis COMMERCIAL GENERAL LIABILITY PACKAGE
SNIS, & SNIA General Liability $1 million per occurrence 11/13/2001 11/13/2001
$2 million aggregate
Advertising Injury excluded
Employee Benefit Liability $1 million per claim
$1 million aggregate
SNIG, BIG, DiBudio & DeFendis AUTOMOBILE (OWNED)
SNIS, & SNIA Liability $1 million 3/22/2001 3/22/2001
Medical $5,000
Uninsured Motorist $500,000
Physical Damage Actual value less $500
deductible
SNIG, BIG, DiBudio & DeFendis AUTOMOBILE (NON-OWNED)
SNIS, & SNIA Liability $1 million 11/13/2001 11/13/2001
Physical Damage/Comp/Collision $30,000
$100 deductible comp/$250
collision
SNIG, BIG, Carpenter Moore DIRECTORS & OFFICERS (RUN-OFF)
SNIS, & SNIA Reliance $5,000,000 5/1/2003 5/1/2003
Lloyd's of London $5,000,000 xs $5,000,000
Gulf Insurance Company $10,000,000 xs $10,000,000
Executive Risk Indemnity $10,000,000 xs $20,000,000
Philadelphia Indemnity $10,000,000 xs $30,000,000
SNIG, BIG, DiBudio & DeFendis EMPLOYER PRACTICE LIABILITY (RUN OFF) $1 million per loss 12/10/2001 12/10/2001
SNIS, & SNIA EXTENDED REPORTING PERIOD & in the aggregate
SNIG, BIG, DiBudio & DeFendis EMPLOYER PRACTICE LIABILITY $1 million per loss 1/15/2002 1/15/2002
SNIS, & SNIA & in the aggregate
SNIG, BIG, DiBudio & DeFendis FIDUCIARY LIABILITY (RUN OFF) $5 million per loss 12/10/2001 12/10/2001
SNIS, & SNIA & in the aggregate
SNIG, BIG, DiBudio & DeFendis COMMERCIAL UMBRELLA $10 million per occurrence 11/13/2001 11/13/2001
SNIS, & SNIA $10 million aggregate
SNIG, BIG, DiBudio & DeFendis EXCESS LIABILITY $10 million per occurrence 11/13/2001 11/13/2001
SNIS, & SNIA $10 million aggregate
SNIG, BIG, DiBudio & DeFendis ACCIDENT POLICY (LIFE/TRAVEL) $1 million to $3 million 1/15/2002 1/15/2002
SNIS, & SNIA (depends on rank of
officer)
BIG ONLY DiBudio & DeFendis PROFESSIONAL LIABILITY RUN OFF $10 million per loss 12/10/2004 12/10/2004
BIG COMPANIES ONLY/acts b/f 12-10-99 & in the aggregate
*$500,000 deductible
</Table>
<Page>
SCHEDULE F
FEBRUARY 28, 2001
SNIG, BIG, SNIS, SNIA
<Table>
<Caption>
- ----------------------------------------------------------------------------------------------------------------------
Type Post-Petition
Name of Professional Professional Unpaid Total
- ----------------------------------------------------------------------------------------------------------------------
Paul, Weiss, Rifkind, Wharton & Garrison Legal fees $224,886
Tillinghast-Towers, Perrin Actuaries $ --
Latham & Watkins Counsel for Official Committee of Unsecured Creditors $ 40,100
Steve Eldrige Tax consulting $ 27,307
Quinn Emanuel Urquhart Oliver & Hedges LLP Legal fees $365,301
Tharpe & Howell Legal fees $ 1,163
Mannat Phelps Legal fees $ 29,606
KPMG Peat Marwick Audit & consulting fees $170,018 Note A
Christopher Maisel Facilitator fees $209,300
</Table>
Note A - Payments of $34,765, $22,949, and $12,493 were subsequently paid on
1/1/01, 1/20/01, and 3/19/01, respectively.
Additionally, $97,250 of fees and expenses were applied against the
retainer.