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Edith Holiday Elected to White Mountains' Board

HAMILTON, Bermuda, Aug. 26 /PRNewswire-FirstCall/ -- The Board of Directors of White Mountains Insurance Group, Ltd. (NYSE: WTM) today elected Edith Holiday as a Director of the Company.

Ms. Holiday was formerly Assistant to the President of the United States and Secretary of the Cabinet, where she was the primary White House liaison with the Cabinet and all federal agencies, and General Counsel to the United States Treasury. Ms. Holiday is the recipient of the Secretary of the Treasury's highest award, the Alexander Hamilton Award. She currently serves as a director of a number of public companies.

CEO Ray Barrette said, "We are pleased to welcome Ede to our Board. She is a thoughtful and experienced director who has extensive board experience with solid companies. In addition, her Washington experience is a welcomed addition to our Company."

ADDITIONAL INFORMATION

White Mountains is a Bermuda-domiciled financial services holding company traded on the New York Stock Exchange and the Bermuda Stock Exchange under the symbol WTM. Additional financial information and other items of interest are available at the Company's web site located at http://www.whitemountains.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included or referenced in this release which address activities, events or developments which we expect or anticipate will or may occur in the future are forward-looking statements. The words "believe," "intend," "expect," "anticipate," "project," "estimate," "predict" and similar expressions are also intended to identify forward-looking statements. These forward-looking statements include, among others, statements with respect to White Mountains':

    * growth in book value per share or return on equity;
    * business strategy;
    * financial and operating targets or plans;
    * incurred losses and the adequacy of its loss and loss adjustment expense
      reserves;
    * projections of revenues, income (or loss), earnings (or loss) per share,
      dividends, market share or other financial forecasts;
    * expansion and growth of its business and operations; and
    * future capital expenditures.

These statements are based on certain assumptions and analyses made by White Mountains in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors believed to be appropriate in the circumstances. However, whether actual results and developments will conform with its expectations and predictions is subject to a number of risks and uncertainties that could cause actual results to differ materially from expectations, including:

    * the failure of announced acquisitions to enhance shareholder value;
    * claims arising from catastrophic events, such as hurricanes,
      earthquakes, floods or terrorist attacks;
    * the continued availability of capital and financing;
    * general economic, market or business conditions;
    * business opportunities (or lack thereof) that may be presented to it and
      pursued;
    * competitive forces, including the conduct of other insurers and
      reinsurers;
    * changes in domestic or foreign laws or regulations applicable to White
      Mountains, its competitors or its  clients;
    * an economic downturn or other economic conditions adversely affecting
      its financial position;
    * loss reserves established subsequently proving to have been inadequate;
      and
    * other factors, most of which are beyond White Mountains' control.

Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements, and there can be no assurance that the actual results or developments anticipated by White Mountains will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, White Mountains or its business or operations. White Mountains assumes no obligation to update publicly any such forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACT: David Foy
Tel: 203-453-1681

SOURCE White Mountains Insurance Group, Ltd.
08/26/2004

CONTACT: David Foy of White Mountains Insurance Group, Ltd., +1-203-453- 1681

Web site: http://www.whitemountains.com
(WTM)