OCAS Ohio Casualty (MM)

Ohio Casualty Corporation (NASDAQ:OCAS) announced today that it will Webcast its Annual Meeting of Shareholders. The meeting will be held at 10:30 a.m. May 16, 2007, in the Ohio Casualty University Auditorium at the Corporate Headquarters, 9450 Seward Road, Fairfield, Ohio. The meeting will be hosted by Chief Executive Officer Dan R. Carmichael and Lead Director Stan Pontius. Among the business items for this year's meeting are the election of three directors, approval of the annual incentive plan for executive officers, and ratification of the appointment of independent public accountants. On May 7, Ohio Casualty Corporation announced that it has entered into a definitive agreement pursuant to which Liberty Mutual Group will acquire all outstanding shares of common stock of Ohio Casualty for $44.00 per share in cash. This transaction is expected to be completed in third quarter of 2007, subject to shareholder and other customary approvals and conditions. The Liberty Mutual transaction is not on the agenda for the May 16 Annual Meeting, and discussion of the transaction will necessarily be limited pending filing of proxy material. Ohio Casualty shareholders should receive proxy material in 6-8 weeks and will be asked to vote to approve the transaction soon afterwards at a date yet to be determined. The meeting is being Webcast by Vcall and can be accessed at Ohio Casualty Corporation's Website at www.ocas.com. The Webcast is also being distributed over PrecisionIR�s Investor Distribution Network to both institutional and individual investors. Investors can listen to the call through PrecisionIR�s Webcast site at www.InvestorCalendar.com or by visiting any of the investor sites in PrecisionIR�s Investor Network. The Webcast will be available for replay through June 17, 2007. To access the archived event, visit www.InvestorCalendar.com. Corporate Profile Ohio Casualty Corporation is the holding company of The Ohio Casualty Insurance Company, which is one of six property-casualty subsidiary 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 March 31, 2007. Additional information and where to find it This communication may be deemed to be solicitation material in respect of the proposed transaction. In connection with the proposed transaction, a proxy statement of Ohio Casualty and other materials will be filed with the SEC. WE URGE INVESTORS TO READ THE PROXY STATEMENT AND THESE OTHER MATERIALS CAREFULLY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT OHIO CASUALTY CORPORATION AND THE PROPOSED TRANSACTION. Investors will be able to obtain free copies of the proxy statement (when available) as well as other filed documents containing information about Ohio Casualty on the SEC's website at http://www.sec.gov. Free copies of Ohio Casualty's SEC filings are also available from Ohio Casualty Corporation, 9450 Seward Road, Fairfield, Ohio 45014, Attention: Investor Relations. Participants in the Solicitation Ohio Casualty and its executive officers, directors, other members of management, employees and Liberty Mutual may be deemed, under SEC rules, to be participants in the solicitation of proxies from Ohio Casualty's shareholders with respect to the proposed transaction. Information regarding the executive officers and directors of Ohio Casualty is set forth in its definitive proxy statement for its 2007 annual meeting filed with the SEC on April 4, 2007. More detailed information regarding the identity of potential participants, and their direct or indirect interests, by securities holdings or otherwise, will be set forth in the proxy statement and other materials to be filed with the SEC in connection with the proposed transaction.