The Midland Co., Munich Re Group Complete Deal

The Midland Company, a provider of specialty insurance products and services, has completed the merger in which Midland has been acquired by Munich-American Holding Corporation, a subsidiary of Munich Re. Prior to the closing of the merger, Midland completed the previously announced sale of all of the shares of capital stock of M/G Transport Services Inc. and MGT Services Inc. to an affiliate of Brooklyn NY Holdings LLC. Under terms of the merger agreement, Midland shareholders will receive $65.00 per share in cash. Holders of Midland common stock who hold uncertificated book-entry shares may expect to receive the merger consideration within approximately seven business days. Holders who hold their shares through Depository Trust Company should contact their broker or other financial advisor for instructions. Holders of certificated shares of Midland common stock will receive a letter of transmittal and other materials from our paying agent. These materials will have to be completed and returned to the paying agent in order for such shareholders to receive the merger consideration. At the close of business today, Midland shares will be de-listed from the Nasdaq Global Select Market and will cease to trade on that market.