NPTE North Pointe Hldgs Corp (MM)

SOUTHFIELD, Mich., March 7 /PRNewswire-FirstCall/ -- North Pointe Holdings Corporation (NASDAQ:NPTE) today announced that it has scheduled a special meeting date for its shareholders on April 10, 2008 to consider and vote on a proposal to adopt the previously announced definitive merger agreement under which QBE Holdings, Inc. ("QBE"), a subsidiary of QBE Insurance Group Ltd. (QBE.AX on the ASX), would acquire the company for $16.00 per share in cash. The special meeting of shareholders will be held at 9:00 a.m. Eastern Time at 31301 Evergreen Road in Beverly Hills, Michigan. All holders of the company's common stock at the close of business on the record date, March 7, 2008 will be eligible to vote at the special meeting of shareholders. The company will mail its definitive proxy statement to its shareholders on or about March 10, 2008. The acquisition is expected to close shortly after the special meeting of shareholders, assuming shareholder approval and satisfaction of other closing conditions. About North Pointe North Pointe is a property and casualty insurer that markets both specialty commercial and personal insurance products. With a focus on owner-operated businesses, the company is the nation's largest insurer of independent bowling centers and the largest insurer of liquor liability insurance in Michigan. About QBE Holdings, Inc. QBE Holdings, Inc. is a subsidiary of Australia's QBE Insurance Group Ltd, one of the top 25 insurers and reinsurers worldwide with $12.5 billion of annualized gross written premium. QBE Holdings, headquartered in New York, is a leading North and South American insurer and reinsurer. It conducts business through various property and casualty insurance subsidiaries in eight countries. Additional Information and Where to Find It In connection with the proposed merger, North Pointe Holdings Corp. filed a preliminary proxy statement with the Securities and Exchange Commission ("SEC") on February 1, 2008. SHAREHOLDERS ARE URGED TO READ THE PROXY STATEMENT FILED WITH THE SEC CAREFULLY AND IN ITS ENTIRETY BECAUSE IT CONTAINS IMPORTANT INFORMATION ABOUT THE PROPOSED MERGER. The definitive proxy statement will be mailed to North Pointe's shareholders. In addition, shareholders will be able to obtain the proxy statement and all other relevant documents filed by North Pointe with the SEC free of charge at the SEC's Web site http://www.sec.gov/ or from North Pointe Holdings Corp., Attn: Investor Relations, P.O. Box 2223, Southfield, MI 48037. 800-229-6742. Participants in the Solicitation North Pointe's directors, executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies from the shareholders of the company in favor of the merger. Information about North Pointe and its directors and executive officers, and their ownership of the company's securities and interests in the merger, is included in the company's proxy statement for its 2007 Annual Meeting of Stockholders filed with the Securities and Exchange Commission on January 9, 2008 and information concerning all of the company's participants in the solicitation is included in the final proxy relating to the proposed merger filed with the Securities and Exchange Commission on March 7, 2008. Cautionary Notice Regarding Forward-Looking Statements Certain matters discussed in this document and future documents may be forward-looking statements. These forward-looking statements are based on current expectations, estimates, forecasts and projections of future Company or Industry performance based on management's judgment, beliefs, current trends and market conditions. Actual outcomes and results may differ materially from what is expressed, forecasted or implied in any forward-looking statement. Forward-looking statements may be identified by the use of words such as "will," "expects," "intends," "plans," "anticipates," "believes," "seeks," "estimates," and similar expressions. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements included in this document. These include, but are not limited to: (1) regulatory approvals required for the transaction may not be obtained, or required regulatory approvals may delay the transaction or result in the imposition of conditions that could have a material adverse effect on the Company or cause the parties not to consummate the transaction; (2) conditions to the closing of the transaction may not be satisfied or waived; (3) the outcome of any legal proceedings to the extent initiated against the Company and others following the announcement of the transaction cannot be predicted; (4) the business of the Company may suffer as a result of uncertainty surrounding the transaction; and (5) the Company may be adversely affected by other economic, business, and/or competitive factors. Other factors that could cause the Company's actual results to differ materially from those expressed or implied are discussed under "Risk Factors" in the Company's most recent annual report on Form 10-K and other filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on these forward-looking statements. To learn more about North Pointe Holdings Corporation, please visit http://www.npte.com/ DATASOURCE: North Pointe Holdings Corporation CONTACT: Brian J. Roney, Chief Financial Officer of North Pointe Holdings Corporation, +1-248-358-1171, ; or Leslie Loyet of FINANCIAL RELATIONS BOARD, +1-312-640-6672, , for North Pointe Holdings Corporation Web Site: http://www.npte.com/

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