Crawford & Company Amends Credit Agreement

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Mon Nov 2, 2009 12:06pm EST

Allows for greater access to capital and improves financial flexibility



ATLANTA, Nov. 2 /PRNewswire-FirstCall/ -- Crawford & Company (NYSE: CRDA;
CRDB), the world's largest independent provider of claims management
solutions, today announced that Crawford and its lenders have agreed to an
amendment of its existing credit agreement. Among other provisions, the
amendment allows an extension of the revolving commitments from October 30,
2011, until October 30, 2013, and also offers Crawford increased financial
flexibility.  

The amendment provides that Crawford may increase the aggregate amount of its
debt under the credit agreement by up to $50 million and may also issue other,
unsecured debt of up to $200 million. It also updates certain covenants to
allow for this additional flexibility and access to capital, while upwardly
revising applicable interest rates.

"We believe the amendment to our credit facility is a reflection of our solid
operational performance," said Jeffrey T. Bowman, Crawford president and chief
executive officer. "It increases our financial flexibility and should help us
continue to effectively manage our operations going forward. We are pleased
with both the immediate and potential future implications of this amendment." 

SunTrust Robinson Humphrey served as Crawford's sole bookrunner and lead agent
for the amendment.  "This transaction represents our ongoing commitment to
serving our clients' financial needs," said Mark Huffstetler, managing
director, SunTrust Robinson Humphrey. "SunTrust Robinson Humphrey is very
pleased to have assisted Crawford in completing this important transaction."

About Crawford
Based in Atlanta, Georgia, Crawford & Company (www.crawfordandcompany.com) is
the world's largest independent provider of claims management solutions to the
risk management and insurance industry as well as self-insured entities, with
a global network of more than 700 locations in 63 countries. The Crawford
System of Claims Solutions(SM) offers comprehensive, integrated claims
services, business process outsourcing and consulting services for major
product lines including property and casualty claims management, workers'
compensation claims and medical management, and legal settlement
administration. The Company's shares are traded on the NYSE under the symbols
CRDA and CRDB.

This press release contains forward-looking statements, including statements
about the financial condition and outlook of Crawford & Company. Statements,
both qualitative and quantitative, that are not historical facts may be
"forward-looking" statements as defined in the Private Securities Litigation
Reform Act of 1995. Forward-looking statements involve a number of risks and
uncertainties that could cause actual results to differ materially from
historical experience or Crawford & Company's present expectations.
Accordingly, no one should place undue reliance on forward-looking statements,
which speak only as of the date on which they are made. Crawford & Company
does not undertake to update forward-looking statements to reflect the impact
of circumstances or events that may arise or not arise after the date the
forward-looking statements are made. For further information regarding
Crawford & Company, including factors that could cause our actual financial
condition, results or earnings to differ from those described in any
forward-looking statements, please read Crawford & Company's reports filed
with the United States Securities and Exchange Commission and available at
www.sec.gov or in the Investor Relations section of Crawford & Company's
website at www.crawfordandcompany.com.

SOURCE  Crawford & Company

Stephanie Zercher, +1-404-300-1908, stephanie_zercher@us.crawco.com
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