0000950133-04-004105 Sample Contracts

SPECIALTY UNDERWRITERS’ ALLIANCE, INC. 20,000,000 Shares of Common Stock UNDERWRITING AGREEMENT
Specialty Underwriters • November 5th, 2004 • Specialty Underwriters Alliance, Inc. • Fire, marine & casualty insurance • New York

FRIEDMAN, BILLINGS, RAMSEY & CO., INC. WILLIAM BLAIR & COMPANY, L.L.C. COCHRAN, CARONIA & CO. as Representatives of the several Underwriters c/o Friedman, Billings, Ramsey & Co., Inc. 1001 19th Street North Arlington, Virginia 22209

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