Philadelphia Consolidated Holding Corp. To Join Nasdaq Financial-100 Index Beginning September 21, 2001

Philadelphia Consolidated Holding Corp. (Nasdaq:PHLY) of Bala Cynwyd, Pennsylvania, will become a component of the Nasdaq Financial-100 Index® effective at the beginning of trading Friday, September 21, 2001. Philadelphia Consolidated Holding Corp. will replace Irwin Financial Corporation (Nasdaq:IRWN), which is de-listing from The Nasdaq Stock MarketSM.

With a market capitalization of $522 million, Philadelphia Consolidated Holding Corp. markets and underwrites specialty property and casualty insurance products through its proprietary underwriting offices across the United States. The Nasdaq Stock Market lists over 4,200 companies and trades more shares per day than any other U.S. market. For more information about Nasdaq, visit the Nasdaq Web site at www.nasdaq.com or the Nasdaq NewsroomSM at www.nasdaqnews.com.