Hub International to buy back up to 1,429,362 of its common shares

The Board of Directors of Hub International Limited (NYSE: HBG AND TSX: HBG) has announced that it has filed a notice of intention to make a Normal Course Issuer Bid for up to 1,429,362 of its common shares through the facilities and in accordance with the by-laws and rules of The Toronto Stock Exchange and The New York Stock Exchange. The shares to be purchased represent less than 5% of the 28,587,256 currently outstanding common shares of Hub International. This Normal Course Issuer Bid will commence September 22, 2002 and may extend until September 21, 2003. The company reports that it will retire all common shares purchased under this Normal Course Issuer Bid.
On September 22, 2001 Hub International commenced an issuer bid for up to 1,080,674 common shares. The company has not purchased any of its common shares since September 22, 2001.
According to the company, the Board of Directors of Hub International has authorized a further Normal Course Issuer Bid because it believes that, in appropriate circumstances, the shares represent an attractive investment opportunity for the company and that consequently such purchase will enhance the value of the shares held by the remaining shareholders of the company.