W. R. Berkley Corporation Announces Pricing of $350 Million of 5.625% Subordinated Debentures Due 2053

  W. R. Berkley Corporation Announces Pricing of $350 Million of 5.625%
  Subordinated Debentures Due 2053

Business Wire

GREENWICH, Conn. -- April 25, 2013

W. R. Berkley Corporation (NYSE: WRB) (the “Company”) announced today that it
priced an offering of $350 million aggregate principal amount of 5.625%
Subordinated Debentures due 2053 (the “Debentures”). The offering is expected
to close on May 2, 2013, subject to customary closing conditions. The Company
intends to apply to list the Debentures on the New York Stock Exchange under
the symbol “WRB PR B.”

The net proceeds of the offering will be used to repay $250 million aggregate
principal amount of the Company’s 6.750% Subordinated Debentures due 2045,
with the remainder for general corporate purposes.

Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. LLC
and Wells Fargo Securities, LLC are joint book-running managers of the

A shelf registration statement relating to these securities has been filed
with the Securities and Exchange Commission and has become effective. This
announcement is not an offer to sell these securities, and it is not
soliciting an offer to buy these securities in any jurisdiction where the
offer or sale is not permitted.

The offering of these securities will be made only by means of a prospectus
supplement and accompanying prospectus. Copies of the preliminary prospectus
supplement, the final prospectus (when available) and the accompanying
prospectus may be obtained by contacting Merrill Lynch, Pierce, Fenner & Smith
Incorporated, 222 Broadway, 11th Floor, New York, NY 10038, Attention:
Prospectus Department, toll-free: 1-800-294-1322 or email:
dg.prospectus_requests@baml.com; Morgan Stanley & Co. LLC, 180 Varick Street,
New York, New York 10014, Attention: Prospectus Department, toll-free:
1-866-718-1649 or email: prospectus@morganstanley.com; or Wells Fargo
Securities, LLC, 1525 West W.T. Harris Blvd., NC0675, Charlotte, North
Carolina 28262, Attention: Capital Markets Client Support, toll-free:
1-800-326-5897 or email: cmclientsupport@wellsfargo.com. Alternatively, one
may obtain these documents for free by visiting EDGAR on the SEC Web site at

Founded in 1967, W. R. Berkley Corporation is an insurance holding company
that is among the largest commercial lines writers in the United States and
operates in three segments of the property casualty insurance business:
insurance-domestic, insurance-international and reinsurance-global.


W. R. Berkley Corporation
Karen A. Horvath, 203-629-3000
Vice President – External Financial Communications
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