Countryman to Head Liberty Financial Companies

Liberty Financial Companies announced that its chairman, Gary Countryman, will assume the additional titles of president and chief executive officer of the company. He succeeds the former president and CEO, Kenneth Leibler, who has resigned to explore other opportunities.

Countryman is also the chairman and former CEO of the Liberty Mutual Group, majority owner of the publicly traded Liberty Financial. Countryman will serve until a suitable successor is found, the company said.

``Liberty Financial is a strong company on a solid course with great potential,'' said Countryman. ``I look forward to building on its success while finding a new President and CEO who can lead Liberty Financial to increased prominence in the financial services arena,'' stated Mr. Countryman. ``The search will commence immediately.

``Ken Leibler has played an important role in Liberty Financial's success. He assembled a strategically powerful array of companies, adding significant value to the Liberty Financial franchise. We appreciate the many contributions he has made and wish him well in the pursuit of his personal interests,'' Mr. Countryman continued.