CONTACT:
                                                         James C. Rowan Jr.
                                                         Office:  (860) 722-5180


FOR IMMEDIATE RELEASE

                        HSB GROUP, INC. DECLARES DIVIDEND

HARTFORD,  Conn.,  November 2, 1998 -- The Board of Directors of HSB Group, Inc.
(NYSE-HSB)  today declared a regular  quarterly  dividend of 42 cents per share.
The dividend will be payable on January 28, 1999, to  shareholders  of record at
the close of business on January 11, 1999. This marks the 128th consecutive year
in which Hartford Steam Boiler has paid a dividend,  one of the longest  records
of the New York Stock Exchange.

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