TOWERGROUP WELCOMES 25-YEAR SECURITIES VETERAN TO SECURITIES & CAPITAL MARKETS RESEARCH PRACTICE

NEEDHAM, MA, July 19, 2005 - TowerGroup today announced the addition of a new senior analyst to its Securities & Capital Markets research service. Tom Price, a 25-year veteran of the securities industry, joins the growing Securities & Investments research team to share his insights into the business and technology trends shaping the securities and capital markets landscape.

Price joins TowerGroup from SEI Investments, where he served as a senior business analyst and team lead for their Global Wealth Management Platform. Prior to SEI, he held similar positions with CIBC World Markets in their U.S. Equities Technology group and T1Xpert, a company providing straight-through processing software to the securities industry.

Price's 25 years of experience in the securities industry also include officer and management positions within technology and operations at Merrill Lynch Capital Markets, Goldman Sachs, and Salomon Brothers. In addition, he served in a consulting capacity at ADP (Automatic Data Processing), Bank of New York and Citicorp Services.

"Tom brings tremendous depth of experience to his new role at TowerGroup, gained from senior positions both within financial institutions and the technology vendors that serve the securities market," said Rob Hegarty, vice president of the Securities & Investments research practice at TowerGroup. "We feel that he is a strong addition to our growing team of research professionals, and expect clients to find a great deal of value in his insights."

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