Canadian Underwriter

Hub International Announces Pricing Of Initial U.S. Offering

June 18, 2002   by Canadian Underwriter

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Hub International Limited (NYSE: HBG and TSX: HBG) has announced that its initial U.S. public offering of 6,000,000 common shares has been priced at US$14 per share. Hub International has also granted the Underwriters an option to purchase up to 900,000 additional shares to cover over allotments, if any. All shares are being issued and sold by the Company. The common shares will begin trading on the New York Stock Exchange under the symbol "HBG" on June 18, 2002.

J.P. Morgan Securities Inc. is the lead manager for the offering. Co-managers are Cochran, Caronia Securities LLC, Stephens Inc., BMO Nesbitt Burns Corp. and Ferris, Baker Watts, Incorporated. Copies of the prospectus may be obtained from the offices of J.P. Morgan Securities Inc., 277 Park Avenue, New York, NY 10172.

A prospectus has not been and will not be filed in Canada. The common shares will not be qualified for sale under the securities laws of Canada or any province or territory of Canada and are not being offered for sale in Canada or to any resident of Canada.

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