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Industry News

Old Republic Announces Receipt of 1988-1990 Tax Refund

July 25, 2005

CHICAGO, /PRNewswire-FirstCall/ -- Old Republic International Corporation (NYSE: ORI) has obtained a favorable resolution of the Company's claim for a Federal income tax refund pertaining to the three years ended December 31, 1990.

As a result, Old Republic will record a combined recovery of income taxes and related accumulated interest of approximately $57.9 million in its second quarter 2005 statement of income. The net of tax effect of this recovery will result in a non-recurring addition to net income of approximately $46.0 million or $.25 per diluted share.

Source: Old Republic International Corporation



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