Faruqi & Faruqi, LLP, a leading New York securities firm, is investigating the Board of Directors of PMA Capital Corporation (“PMA” or the “Company”)(NASDAQ: PMACA) for possible breaches of fiduciary duty and other violations of state law or federal law in connection with their attempt to sell the Company to Old Republic International Corp. (NYSE: ORI). Under the terms of the transaction, PMA Capital shareholders will receive 0.55 shares of Old Republic common stock in exchange for each outstanding common share of PMA Capital, which exchange rate may be adjusted upwards or downwards depending on the price of Old Republic’s common stock preceding the closing of the merger, but will not exceed 0.60 or be less than 0.50. Based on the prior closing price of Old Republic, the transaction values PMA capital stock at approximately $7.10 per share for a total transaction value of $365 million, including the assumption of debt.

The investigation concerns whether the transaction is undervaluing the company. At the time of the announcement, the exchange ratio represented approximately 15% premium to the June 8 closing price of PMA shares. However, on May 12, 2010, less than one month ago, PMA shares traded as high as $7.54 per share. Old Republic closed at $12.80 on June 10, putting the exchange price at $7.04 per share.

Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, through all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm’s clients.

If you own common stock in PMA and wish to obtain additional information, please visit us at http://www.faruqilaw.com/merger.php or contact Juan E. Monteverde, Esq. either via email at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330.

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