Ourdefinitions of these items may not be comparable to the definitions used byother companies. Net earnings and net earnings per share are the GAAP financialmeasures that are most directly comparable to operating earnings and EPS fromoperations. All earnings per share data are calculated using fully dilutedshares Combined ratio refers to a GAAP combined ratio. Except for historical information, this news release may include forward-lookingstatements (within the meaning of Section 27A of the Securities Act of 1933 andSection 21E of the Securities Exchange Act of 1934) including, withoutlimitation, statements reflecting our current expectations about the futureperformance of our company or our business segments or about future marketconditions. These statements are subject to certain risk factors that couldcause actual results to differ materially. Various risk factors that couldaffect future results are listed in the company's filings with the Securitiesand Exchange Commission, including the Form 10-K Annual Report for the yearended December 31, 2007. RLI, a specialty insurance company, offers a diversified portfolio of propertyand casualty coverages and surety bonds serving "niche" or underserved markets.RLI operates in all 50 states from office locations across the country. 
Thecompany's talented associates have delivered underwriting profits in 28 of thelast 32 years, including the last 13 RLI's insurance subsidiaries - RLIInsurance Company, Mt. Hawley Insurance Company and RLI Indemnity Company - arerated A "Superior" by A.M Best Company and A "Strong" by Standard & Poor's. For additional information, contact Treasurer John Robison at (309) 693-5846 orat or visit our website at Supplemental disclosure regarding the earnings impact of specific items: Operating Earnings Per Share 2008 2007 4th Qtr12 mos.4th Qtr12 mos. Operating Earnings Per Share$1.30 $4.99 $1.22$6.52Specific items included in operating earnings per share: (1) (2)Gain from casualty prior years' reserve development $0.28 $1.23 $0.13$2.10 Gain (loss) from property prior years' reserve development(0.06)(0.01)$0.03$0.02 Gain from surety prior years' reserve development $0.08 $0.25 $0.04$0.27 Gain from development from 2004 and 2005 hurricanes - - $0.01$0.02 Loss from 2008 hurricanes - (0.63) Gain from change in tax rate applicable to the Maui Jim dividend (3)- $0.05 (1)Includes effects on bonus and profit sharing-related impacts which affected other insurance and general corporate expenses.(2)Developments reflect revisions for previously estimated losses.(3)As required under Statement of Financial Accounting Standards 109, "Accounting for Income Taxes,"the gain reflects the tax benefit of applying the lower tax rate applicable to affiliated dividends (7) as compared to the corporate capital gains tax rate (35) on which previous tax estimates were based.RLI CORP. 2008 FINANCIAL HIGHLIGHTS (Unaudited) (Dollars in thousands, except per share amounts)Three Months Ended December 31, Twelve Months Ended December 31, 20082007 Change 20082007 ChangeSUMMARIZED INCOME STATEMENT DATA: Net premiums$ 129,654 $ 134,902 -3.9$ 528,764 $ 544,478 -2.9 earned Net investment20,27920,401-0.678,98678,9010.1 income Net realized (34,342)5,552 (46,738)28,966 investment gains(losses)Consolidated115,591 160,855 -28.1 561,012 652,345 -14.0 revenue Loss and57,13159,259-3.6247,174 190,868 29.5 settlement expenses Policy41,59940,3343.1 163,320 155,610 5.0 acquisitioncostsOther insurance 6,861 10,609-35.3 35,20742,235-16.6 expenses Interest expense 1,513 2,029 -25.4 6,704 6,997 -4.2 on debtGeneral 1,094 2,033 -46.2 6,853 9,474 -27.7 corporateexpenses Total108,198 114,264 -5.3459,258 405,184 13.3 expenses Equity inearnings (loss)of unconsolidated(1,573 )(455 )-245.74,844 7,315 -33.8 investeeEarnings before 5,820 46,136-87.4 106,598 254,476 -58.1 income taxes Income tax(161 )14,17827,92278,609-64.5 expense (benefit) Net Earnings $ 5,981 $ 31,958-81.3 $ 78,676$ 175,867 -55.3 Other comprehensive (12,297)(4,953 )-148.3(80,571)(9,444 )-753.1 loss, net of tax Comprehensive $ (6,316 )$ 27,005$ (1,895 )$ 166,423earnings (loss)OperatingEarnings:(1)Net Earnings $ 5,981 $ 31,958-81.3 $ 78,676$ 175,867 -55.3 Less: Realized (22,323)3,609 (30,380)18,828 investment gains(losses) , net of taxOperating$ 28,304$ 28,349-0.2$ 109,056 $ 157,039 -30.6 earnings Return on Equity: Net earnings 10.7 22.5 (trailing fourquarters) Comprehensive-0.3 21.3 earnings (trailingfour quarters) Per Share Data Diluted: Weighted average 21,70623,18221,84824,085 shares outstanding(in 000's) EPS from$ 1.30$ 1.226.6 $ 4.99$ 6.52-23.5 operations (1) Realized gains (1.02)0.16(1.39)0.78 (losses), net oftax Net earnings per $ 0.28$ 1.38-79.7 $ 3.60$ 7.30-50.7 share Comprehensive$ (0.29)$ 1.16$ (0.09)$ 6.91 earnings (loss) pershareCash dividends$ 0.26$ 0.2313.0$ 0.99$ 0.8713.8 per shareNet Cash Flow $ 34,602$ 15,795119.1 $ 161,334 $ 127,023 27.0 from Operations(1) See discussion of use of non-GAAP financial measures on page 3 RLI CORP. 2008 FINANCIAL HIGHLIGHTS (Unaudited) (Dollars in thousands, except per share amounts)December 31,December 31,20082007 Change SUMMARIZED BALANCESHEET DATA: Fixed income and $ 1,372,038 $ 1,446,097 -5.1short-terminvestments (amortized cost - $1,384,993 at 12/31/08) (amortized cost - $1,437,463 at 12/31/07) Equity 274,909 359,513 -23.5 securities(cost - $239,822at 12/31/08) (cost - $216,465at 12/31/07) Preferred11,88134,167-65.2 stock (cost - $11,461at 12/31/08) (cost - $39,133at 12/31/07) Total1,658,828 1,839,777 -9.8investmentsPremiums and 92,149105,937 -13.0 reinsurance balances receivableCeded unearned65,97771,021-7.1premiums Reinsurance350,284 417,250 -16.0 recoverable onunpaid losses Deferred78,52078,882-0.5acquisitioncostsProperty and21,56520,0507.6 equipmentIncome taxes -24,141- -deferred Investment in38,69738,1621.4 unconsolidatedinvesteeGoodwill26,21426,214-Other assets 63,02629,230115.6 Total assets $ 2,419,401 $ 2,626,523 -7.9 Unpaid losses and$ 1,159,311 $ 1,192,178 -2.8settlement expensesUnearned 335,170 355,522 -5.7premiumsReinsurance 30,22438,273-21.0 balances payableShort-term - 27,975-100.0debtLong-term debt - 100,000 100,000 -bonds payableIncome taxes 25,042-100.0deferred Accrued32,89439,303-16.3 expensesOther53,64873,808-27.3 liabilities Total1,711,247 1,852,101 -7.6liabilities Shareholders' 708,154 774,422 -8.6equity Total liabilities & $ 2,419,401 $ 2,626,523 -7.9shareholders' equity OTHER DATA Common shares21,47422,155 outstanding (in 000's) Book Value per$ 32.98 $ 34.95 -5.6shareClosing stock $ 61.16 $ 56.79 7.7 price per share Statutory$ 679,079 $ 752,004 -9.7Surplus RLI CORP. 2008 FINANCIAL HIGHLIGHTS UNDERWRITING SEGMENT DATA (Unaudited) (Dollars in thousands, except per share amounts)Three Months Ended December31,GAAP GAAPGAAP GAAP Casualty RatiosProperty RatiosSuretyRatiosTotalRatios 2008Gross premiums $ 95,477 $ 49,422 $ 17,328 $ 162,227 written Net premiums 67,418 36,031 15,496 118,945 writtenNet premiums 75,922 35,994 17,738 129,654 earned Net loss & 39,637 52.217,217 47.82771.6 57,131 44.1 settlementexpensesNet operating23,224 30.613,814 38.411,422 64.448,460 37.4 expensesUnderwriting $ 13,061 82.8$ 4,96386.2$ 6,03966.0$ 24,063 81.5 income 2007Gross premiums $ 109,705$ 42,082 $ 15,822 $ 167,609 written Net premiums 80,189 26,754 14,613 121,556 writtenNet premiums 83,351 35,259 16,292 134,902 earned Net loss & 47,854 57.410,382 29.41,0236.3 59,259 43.9 settlementexpensesNet operating25,074 30.115,206 43.110,663 65.450,943 37.8 expensesUnderwriting $ 10,423 87.5$ 9,67172.5$ 4,60671.7$ 24,700 81.7 income Twelve Months Ended December 31, GAAP GAAPGAAP GAAP Casualty RatiosProperty RatiosSuretyRatiosTotalRatios 2008Gross premiums $ 403,337$ 200,794$ 77,038 $ 681,169 written Net premiums 295,942146,08971,425 513,456 writtenNet premiums 313,481146,86368,420 528,764 earned Net loss & 169,88054.273,992 50.43,3024.8 247,17446.7 settlementexpensesNet operating97,094 31.057,058 38.944,375 64.9198,52737.5 expensesUnderwriting $ 46,507 85.2$ 15,813 89.3$ 20,743 69.7$ 83,063 84.2 income 2007Gross premiums $ 462,591$ 206,041$ 70,702 $ 739,334 written Net premiums 335,401137,41965,943 538,763 writtenNet premiums 343,402138,36762,709 544,478 earned Net loss & 135,95539.655,704 40.3(791)-1.3190,86835.1 settlementexpensesNet operating105,58430.752,094 37.640,167 64.1197,84536.3 expensesUnderwriting $ 101,86370.3$ 30,569 77.9$ 23,333 62.8$ 155,76571.4 incomeRLI Corp.John Robison(309) Business Wire 2009.
Company to hold conference call and webcastLOS ANGELES(Business Wire)AECOM Technology Corporation (NYSE: ACM), a leading provider of professionaltechnical and management support services for government and commercial clientsaround the world, will release results for its first quarter of fiscal year2009, which ended on Dec 31, 2008, before the market opens on Tuesday, Feb 10,2009 The company will host a conference call at 11 a.m. EST, during which managementwill make a brief presentation focusing on the company's results, strategies andoperating trends. Interested parties can listen to the conference call and view accompanyingslides via webcast on the Internet at The webcast will beavailable for replay following the call. Those wishing to dial in to the callvia telephone can do so at (800) 218-4007 or (303) 205-0033.
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