1. Company Introduction
May 2006

2. Corporate Profile 2006 Services Revenues $200,000,000+ Employees 700+
Offices 21 offices in 8 States
Industry Rank: 14th largest in U.S.
Market Identity Specialty Focus Middle Market
Services
Retail Brokerage
Co-Brokerage
Risk Management Consulting
Benefits Consulting
Underwriting
Claims & Loss Control
Human Resources Consulting

3. Offices
Driver-Alliant
Kelter-Alliant
Franey Muha-Alliant

4. Revenue by Line
Specialty P&C
40%

5. How are we organized?

6. Organization

7. Driver Commercial
Jerry Hall, President
Overview
Alliant Revenue
Founded in 1925, forms Alliant’s West Coast operating platform, specializing in middle market retail distribution.
Largest independent insurance broker in California
Dominant position in San Diego, Riverside, & San Bernardino markets
Operates out of 10 offices in California, Arizona, and Washington.
2005 Revenue of $57 MM
2005 business mix by operating revenue
H I S T O R I C A L   F I N A N C I A L   P E R F O R M A N C E   R E V I E W

8. Driver Specialty
Ralph Hurst, President
Overview
Alliant Revenue
Founded in 1977 and primarily serving the public sector
Provides clients with proprietary programs distributed on a retail basis
The company’s largest client (CSAC) and largest program (PEPIP) both reside in this operation
Heavy concentration in California but now doing retail business in 30+ states
Current Revenue of $52.5 MM
2005 business mix by operating revenue
H I S T O R I C A L   F I N A N C I A L   P E R F O R M A N C E   R E V I E W

9. Alliant Specialty
Sean McConlogue, President
Overview
Alliant Revenue
Alliant Specialty is the primary platform for program based co-broker distribution
Primary component of the operation today is ‘Tribal First’ which provides advantaged programs to Indian Nations across the country
Major initiative for this operation is expanding the reach of our public sector business via co-brokerage distribution
Current revenue is $30.5 MM
2005 business mix by operating revenue
H I S T O R I C A L   F I N A N C I A L   P E R F O R M A N C E   R E V I E W

10. Alliant Risk Services
Greg Zimmer, President
Overview
Alliant Revenue
Formed in 2000 to provide non-brokerage services to clients and programs
Two primary groups: Underwriting Services and Business Services
Underwriting Services creates greater control and additional revenue for program-based business
Business Services (including Strategic HR) enhances the relationship between our firm and the client by providing best-in-class services
Current Revenue of $13.4 MM
2005 business mix by operating revenue
H I S T O R I C A L   F I N A N C I A L   P E R F O R M A N C E   R E V I E W

11. Kelter Commercial
Michael Kelter, President
Overview
Alliant Revenue
Founded in 1930, forms Alliant’s Midwest regional operating platform
Operates primarily in Michigan, Illinois and Ohio through 40+ employees
One of the largest insurance agencies in the greater Detroit metropolitan area
Specializes in lawyers’ professional liability through its ProQuest program sold on both a retail and co-brokered basis with clients including 30 of top 200 U.S. law firms
Current Revenue of $20.7 MM
2005 business mix by operating revenue
H I S T O R I C A L   F I N A N C I A L   P E R F O R M A N C E   R E V I E W

12. Franey Muha Commercial
Bill Franey, President
Overview
Alliant Revenue
Founded in 1973, forms Alliant’s Mid-Atlantic regional operating platform
Operates primarily in Maryland, Pennsylvania, Virginia and DC through 100+ employees
Distributes both Property & Casualty and Benefits products on a retail basis
Largest distributor of insurance for land conservation and preservation-related exposures in the U.S.
Current Revenue of $22.4 MM
2005 business mix by operating revenue
H I S T O R I C A L   F I N A N C I A L   P E R F O R M A N C E   R E V I E W

13. Alliant - Corporate Services
Overview
Alliant Revenue
Responsible for all corporate functions including:
Mergers & Acquisitions
Corporate Finance
Accounting
Human Resources
Information Technology
Legal Affairs
Risk Management
Carrier Relations
The plan is to consolidate non-client related activities within Corporate Services and maintain client activities in the local operations.
Corporate
Franey Muha
Kelter Comm’l
Alliant Risk
Alliant Specialty
H I S T O R I C A L   F I N A N C I A L   P E R F O R M A N C E   R E V I E W
Driver Specialty
Driver Comm’l

14. Alliant - Corporate Services
Overview
Alliant Revenue
Responsible for all corporate functions including:
Mergers & Acquisitions
Corporate Finance
Accounting
Human Resources
Information Technology
Legal Affairs
Risk Management
Carrier Relations
The plan is to consolidate non-client related activities within Corporate Services and maintain client activities in the local operations.
Alliant
$208MM
H I S T O R I C A L   F I N A N C I A L   P E R F O R M A N C E   R E V I E W

15. Major Programs Sector Premium Existence
CSAC Programs Public Entity $75 MM 20 yrs
PEPIP Public Entity $70 MM 14 yrs
SLIP Public Entity $ 6 MM 8 yrs
Tribal First WC Indian Nations $50 MM 7 yrs
TPIP Indian Nations $15 MM 3 yrs
Tribal First ALA Indian Nations $15 MM 10 yrs
Law Firms Commercial $50 MM 25 yrs
Refuse Haulers Commercial $10 MM 10 yrs
Conserve-a-Nation Commercial $8 MM 10 yrs
Parking Garages Commercial $8 MM 15 yrs
Energy Commercial $8 MM 10 yrs

16. Distribution Map Tribal First Commercial Programs
Public Sector Programs
ProQuest
Conserve-a-nation

17. Financial Partner

18. Lindsay Goldberg & Bessemer (LGB)
On November 30, 2005 Alliant was purchased from its prior shareholders by a new group comprised primarily of your management team, brokers, and our new financial partner LGB
Management and broker ownership represents just shy of 50%
LGB is a $2.0 billion New York-based private equity fund
LGB partners with:
Well managed businesses committed to growth
Companies that differentiate themselves in their industry

19. LGB’s Attraction to Alliant
Stable and growing organization
Specialty niche market focus
Highly experienced management team
Best in class organic revenue growth
Strong producer culture
Successful acquisition track record
Committed to our vision

20. Our Vision
“Alliant will emerge as the premiere U.S. specialty broker providing advantaged, program-based risk solutions for the middle market.”

21. Core Values Quality people Customer focused
Entrepreneurial environment
Open access to all resources
Team environment
Fair and equitable compensation
Sustained growth and profitability
Flat management structure
Continuous improvement
No politics

22. Producer Profile

23. Producer Profile
Alliant fosters a sales driven, entrepreneurial environment.
Maintaining the flat organizational structure is dependent on hiring producers that are self motivated and do not require a significant amount of management.
The average tenure for Alliant’s producers is 11 years.

24. Producer Profile (cont.)
Alliant’s producers are under contract which provides the company with protective covenants and the producers with…
35% commission (“new” and “renewal”)
A post separation payment provision that provides the producer with “quasi-equity” in the business originated.
It is Alliant’s philosophy to provide equity opportunities to its brokers. Such opportunities are considered on an individual basis.

25. Business Plan

26. Business Plan Organic Growth: Strategic Acquisitions:
Recruitment of quality proven producers (i.e. “leveraged hires”)
Creation and expansion of Broker Revenue Groups (BRG’s), broker teams that share personal income
Continuation of Broker Development Program
Providing our producers with differentiated products and programs
Strategic Acquisitions:
Builders not Sellers… we will acquire only strategic acquisition (for which there are no geographic bounds)
Acquisition candidates will have dynamic sales culture that compliments Alliant’s values
Candidates will typically be either specialty oriented or have a dominant geographic presence

27. Best-in-class organic growth
Historical organic revenue growth rate
’03
’04
’02
’03
’04
’02
’03
’04
’02
’03
’04
’02
’03
’04
’02
’03
’04
’02
’03
’04
’02
’03
’04
’02
’03
’04
’02
’03
’04
’02
Alliant
Competitor average
Willis
Arthur J. Gallagher
Marsh & McLennan
Hub International
Aon
Brown & Brown
Hilb Rogal & Hobbs
U.S.I.
Organic growth drives employee opportunities!

28. Proven acquisition history
Historical revenue and growth
“Acquisitions are not the future but the foundation for future growth”

29. Where does this take us? 2005: $200M Revenue 2010: $500M Revenue
A strategy of “independence” to:
Maintain our Culture
Provide Professional Growth Opportunities
Enable an IPO by 2010

30. Growing a great company…

31. Growing a great company…
Driver Specialty Group
Driver Commercial Group
Franey Muha Commercial Group
Kelter Commercial Group
Alliant Specialty Insurance Services
Alliant Risk Services
(ProQuest)
(Tribal First)