Universal Insurance Holdings, Inc. Announces Approval to Write Property and Casualty Insurance in the State of South

FORT LAUDERDALE, FL, Jul 23 (MARKET WIRE) --
Universal Insurance Holdings, Inc. (AMEX: UVE), a vertically integrated
insurance holding company, announced that its subsidiary Universal
Property and Casualty Insurance Company (UPCIC), has received approval
from the South Carolina Department of Insurance to write property and
casualty insurance in the state of South Carolina. UPCIC intends to file
for approval for its rates and forms with the South Carolina Department
of Insurance by the end of the third quarter with the anticipation of
writing new business after the end of the 2008 hurricane season.

Bradley I. Meier, president and chief executive officer, commented, "We
are pleased to have been approved to write property and casualty
insurance in South Carolina. This is the beginning step in Universal's
plans for geographic expansion, and it is consistent with our goal to
capitalize on our expertise and create additional growth opportunities.
We look forward to meeting the property and casualty needs of the
citizens of South Carolina."

About Universal Insurance Holdings, Inc.

The Company is a vertically integrated insurance holding company. Through
its subsidiaries, the Company is currently engaged in insurance
underwriting, distribution and claims. UPCIC, which generates revenue from
the collection and investment of premiums, is one of the top five writers
of homeowners' insurance policies in the state of Florida and has aligned
itself with well-respected service providers in the industry.

Readers should refer generally to reports filed by the Company with the
Securities and Exchange Commission (SEC), specifically the Company's Form
10-KSB for the year ended December 31, 2007, and the Company's Form 10-Q
for the quarterly period ended March 31, 2008, for a discussion of the
risk factors that could affect its operations. Such factors include,
without limitation, exposure to catastrophic losses; reliance on the
Company's reinsurance program; underwriting performance on catastrophe and
non-catastrophe risks; the ability to maintain relationships with
customers, employees or suppliers; and competition and its effect on
pricing, spending, third-party relationships and revenues. Additional
factors that may affect future results are contained in the Company's
filings with the SEC, which are available on the SEC's web site at
http://www.sec.gov. The Company disclaims any obligation to update and
revise statements contained in this press release based on new information
or otherwise.

Cautionary Language Concerning Forward-Looking Statements

This press release contains "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. The words
"believe," "expect," "anticipate," and "project," and similar expressions
identify forward-looking statements, which speak only as of the date the
statement was made. Such statements may include, but not be limited to,
projections of revenues, income or loss, expenses, plans, and assumptions
relating to the foregoing. Forward-looking statements are inherently
subject to risks and uncertainties, some of which cannot be predicted or
quantified. Future results could differ materially from those described in
forward-looking statements.

Investor Contact:
Philip Kranz
Dresner Corporate Services
312-780-7240
pkranz@dresnerco.com

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