EX-99.1
3
y10982exv99w1.txt
PRESS RELEASE
Exhibit 99.1
ALLEGHANY CORPORATION
7 Times Square Tower
17th Floor
New York, NY 10036
Contact: Robert M. Hart
(212) 752-1356
FOR IMMEDIATE RELEASE
ALLEGHANY COMPLETES SALE OF INDUSTRIAL MINERALS BUSINESS
NEW YORK, N.Y. - JULY 14, 2005 - Alleghany Corporation (NYSE: Y)
announced today that the previously announced sale of its world-wide industrial
minerals business, World Minerals Inc., to Imerys USA, Inc., a wholly-owned
subsidiary of Imerys, S.A., had been completed. Under the terms of the
transaction, Alleghany received a purchase price of approximately $217,000,000.
Alleghany anticipates that the transaction will result in a modest after-tax
gain.
Alleghany is engaged through its subsidiary Alleghany Insurance
Holdings LLC (consisting of RSUI Group, Inc., Capitol Transamerica Corporation
and Darwin Professional Underwriters, Inc.) in the property and casualty
insurance business.
This press release contains forward-looking statements with respect
to the anticipated effects of the transaction. Actual results of the transaction
could be significantly different. Factors that could affect results include
those set forth in filings made by Alleghany with the Securities and Exchange
Commission. Although forward-looking statements help to provide complete
information about future prospects, readers should keep in mind that
forward-looking statements are much less reliable than historical information.
# # #

EX - 99 . 1 3 y10982exv99w1 . txt PRESS RELEASE Exhibit 99 . 1 ALLEGHANY CORPORATION 7 Times Square Tower 17th Floor New York , NY 10036 Contact : Robert M . Hart ( 212 ) 752 - 1356 FOR IMMEDIATE RELEASE ALLEGHANY COMPLETES SALE OF INDUSTRIAL MINERALS BUSINESS NEW YORK , N . Y . - JULY 14 , 2005 - Alleghany Corporation ( NYSE : Y ) announced today that the previously announced sale of its world - wide industrial minerals business , World Minerals Inc . , to Imerys USA , Inc . , a wholly - owned subsidiary of Imerys , S . A . , had been completed . Under the terms of the transaction , Alleghany received a purchase price of approximately $ 217,000,000 . Alleghany anticipates that the transaction will result in a modest after - tax gain . Alleghany is engaged through its subsidiary Alleghany Insurance Holdings LLC ( consisting of RSUI Group , Inc . , Capitol Transamerica Corporation and Darwin Professional Underwriters , Inc . ) in the property and casualty insurance business . This press release contains forward - looking statements with respect to the anticipated effects of the transaction . Actual results of the transaction could be significantly different . Factors that could affect results include those set forth in filings made by Alleghany with the Securities and Exchange Commission . Although forward - looking statements help to provide complete information about future prospects , readers should keep in mind that forward - looking statements are much less reliable than historical information . # # #