OCAS Ohio Casualty (MM)

Ohio Casualty Group today announced that effective March 20, 2007, A.M. Best Company raised its financial strength and issuer credit ratings (ICR) on Ohio Casualty Group and its member companies to �A� (Excellent) and �a� from �A-� and �a-� respectively. The outlook is stable. At the same time, A.M. Best upgraded the ICR and senior debt ratings to �bbb� from �bbb-� for the Group�s parent, Ohio Casualty Corporation (NASDAQ:OCAS). Ohio Casualty Corporation is the holding company of The Ohio Casualty Insurance Company, which is one of six property-casualty insurance companies that make up Ohio Casualty Group. Ohio Casualty Group�s Chief Executive Officer Dan Carmichael, CPCU, expressed Ohio Casualty�s pleasure with the upgrade: �This action confirms our belief that Ohio Casualty financial results are deserving of a solid �A� rating. A.M. Best�s action sends a clear message to investors that our company is financially strong and that we are consistently generating excellent operating results. It also further validates the successful execution of our strategy to become a premier, top quality insurance carrier.� This action follows other positive actions that were taken in 2006, which resulted in Ohio Casualty Corporation being rated as an investment grade security issuer by four rating agencies, including Fitch Ratings, Moody�s Investors Service, and Standard & Poor�s, as well as A.M. Best Company. Ohio Casualty Corporation reported excellent results for 2006, following equally positive results in 2005. �In fact, for 2006, this was the second year in a row our operating return on equity was 15%, and the third year it exceeded 12%,� added Mr. Carmichael. �Also, it was the second year in a row we achieved an all-lines combined ratio in the mid 90s.� In a separate press release, A.M. Best Co. stated: �The ratings reflect the Group�s strong overall underwriting results, very strong risk-adjusted capitalization and good business position as a regional provider of property/casualty insurance�� The entire press release and complete ratings information are available at www.ambest.com, the agency�s Website. Corporate Profile Ohio Casualty Corporation is the holding company of The Ohio Casualty Insurance Company, which is one of six property-casualty insurance companies that make up Ohio Casualty Group, collectively referred to as Consolidated Corporation. The Ohio Casualty Insurance Company was founded in 1919 and is licensed in 49 states. Ohio Casualty Group is ranked 50th among U.S. property/casualty insurance groups based on net premiums written (Best�s Review, July 2006). The Group�s member companies write auto, home and business insurance. Ohio Casualty Corporation trades on the NASDAQ Stock Market under the symbol OCAS and had assets of approximately $5.7 billion as of December 31, 2006.