WFG Capital Advisors Announces that Hilb Rogal & Hobbs to Acquire Zutz Associates, Inc.

HARRISBURG, PA - February 28, 2006 - WFG Capital Advisors announces the signing of a definitive agreement by Hilb Rogal & Hobbs Company (NYSE: HRH), the world's tenth largest insurance and risk management intermediary, under which HRH will buy the stock of Zutz Associates, Inc., Delaware’s largest independently-owned insurance agency.  Terms of the transaction, which is expected to be completed by March 1, were not disclosed.

Zutz was founded in 1940 by Harry David Zutz on the principles of neighborly manners, a benevolent spirit, and ethical business practices.  Zutz provides a wide range of insurance products and services, specializing in professional associations’ liability insurance.  2005 gross revenues were approximately $11.3 million ($9.4 million net of outside brokers’ commissions) and premium volume for the firm exceeded $100 million.  The Zutz team of more than 75 professionals will continue to serve clients from their Wilmington, Delaware office under the leadership of their president, Larry Zutz, and their existing management team.  The operation will become part of HRH’s Mid-Atlantic region, led by its director, Steven C. Deal.

WFG Capital Advisors LP of Harrisburg, Pennsylvania served as exclusive financial advisor to Zutz Associates, Inc.

HRH Chairman and Chief Executive Officer Martin L. (Mell) Vaughan, III said, "Our acquisition strategy includes expanding our geographic presence when we can acquire an industry leader such as Zutz.  We are excited to welcome Zutz to HRH as our entry into Delaware.  Since Zutz’s creation over 65 years ago, its associates have operated on strong personal commitments to integrity and to exceptional customer service--values which have been similarly practiced at HRH through the years.  Zutz has experienced a great deal of success as a private firm, and we are now pleased to extend to them our national exposure, as well as our wide range of unique resources.  It is my pleasure to welcome Larry and his associates to our company."

Hilb Rogal & Hobbs Company is the eighth largest insurance and risk management intermediary in the U.S. and 10th largest in the world.  From offices throughout the U.S. and in London, HRH assists clients in managing risks in property and casualty, employee benefits and many other areas of specialized exposure.  The company’s common stock is traded on the New York Stock Exchange, symbol HRH.  More information about HRH may be found on the internet at www.hrh.com.

About WFG Capital Advisors LP

WFG Capital Advisors, a PA-based investment banking firm specializing in the insurance industry, served as the exclusive financial advisor to Zutz Associates, Inc.

Media Contacts:

Robert J. Lieblein, President & CEO
(717) 780-7801 / [email protected]