Eastern Alliance Insurance Group Partners With the Manufacturer & Business Association...

Eastern Alliance Insurance Group Partners With the Manufacturer & Business
Association for Workers' Compensation Program

LANCASTER, Pa., June 29 /PRNewswire/ -- Eastern Alliance Insurance Group
("EAIG") and the Manufacturer & Business Association ("MBA") announced the
launch of a new workers' compensation program ("the Program") designed for MBA
members. EAIG is a member of the publicly-traded Eastern Insurance Holdings,
Inc. ("EIHI," Nasdaq: EIHI) family of companies.

EAIG will serve as the underwriter for the Program, which offers MBA members
access to its tailored group workers' compensation insurance products and
services. The MBA is a professional employers' organization with membership
comprised of commercial, service and nonprofit organizations, as well as
industrial members.

"We are extremely pleased to partner with the MBA, the largest association of
its kind in the United States," said Michael Boguski, President and Chief
Operating Officer of EIHI. "We believe our emphasis on proactive risk and
claim management, industry-leading medical cost management tools, and
return-to-work initiatives, will benefit the MBA membership."

"The MBA is committed to helping our members lower the cost of doing business
whenever and wherever possible," said MBA President Ralph Pontillo. "We have
teamed up with an exceptional partner to provide a group dividend workers'
compensation program that will reduce claim costs and return their employees
to work faster. EAIG's ParallelPay 'pay-as-you-go' program also protects
businesses' cash flow in a challenging economy."

Businesses interested in the Program should contact EAIG for a list of
independent insurance agents representing EAIG in their area.

Founded in 1997, EAIG specializes in providing workers' compensation products
and services to businesses and self-insured clients. EAIG is a member of the
publicly-held Eastern Insurance Holdings, Inc. (Nasdaq: EIHI) family of
companies, with regional offices in Lancaster, Pennsylvania, Charlotte, North
Carolina, and Indianapolis, Indiana. EAIG's Web address is www.eains.com.

Founded in 1905, the MBA provides information and services to more than 4,500
member companies located in Pennsylvania, Ohio and New York. The MBA is
headquartered in Erie, Pennsylvania. The MBA's Web address is www.mbausa.org.

FORWARD LOOKING STATEMENTS
Some of the statements contained in this press release are "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. In some cases, you can identify forward-looking statements by
terminology such as "may," "will," "should," "expect," "project," "plan,"
"intend," "anticipate," "believe," "estimate," "predict," "potential" or
"continue," the negative of these terms or other terminology. Forward-looking
statements are based on the opinions and estimates of management at the time
the statements are made and are subject to certain risks and uncertainties
that could cause actual results to differ materially from those anticipated in
the forward-looking statements, therefore no assurance can be given that
management's expectations, beliefs or projections will occur or be achieved or
accomplished. Factors that could affect the Company's actual results include,
among others, the fact that our loss reserves are based on estimates and may
be inadequate to cover our actual losses; the uncertain effects of emerging
claim and coverage issues on our business; the geographic concentration of our
business; an inability to obtain or collect on our reinsurance protection; a
downgrade in the A.M. Best rating of our insurance subsidiaries; the impact of
extensive regulation of the insurance industry and legislative and regulatory
changes, a failure to realize our investment objectives; the effects of
intense competition; the loss of one or more principal employees; the
inability to acquire additional capital on favorable terms; a failure of
independent insurance brokers to adequately market our products; and the
effects of acts of terrorism or war. More information about these and other
factors that potentially could affect our financial results is included in our
Form S-1 Registration Statement, filed with the U.S. Securities and Exchange
Commission and in our other public filings with the U.S. Securities and
Exchange Commission. Readers are cautioned not to place undue reliance upon
these forward-looking statements, which speak only as of the date of this
release. The Company undertakes no obligation to update any forward-looking
statements. This press release also does not constitute an offer to sell, or
a solicitation of an offer to buy, EIHI securities. Such an offer will be
made only by means of a prospectus.

SOURCE Eastern Insurance Holdings, Inc.

Bob Gilpin, Senior Vice President Marketing, Eastern Insurance Holdings, Inc.,
+1-717-239-1641, bgilpin@eains.com