The board of directors' decision to declare a dividend at this timereflects the Company's positive results and profits through the thirdquarter ended September 30, 2008 and management's assessment of theCompany's current business and corporate needs. The Company expects toundertake a similar assessment toward the end of each fiscal year todetermine whether a year-end dividend is feasible. The Company's board ofdirectors will continue to evaluate paying future dividends on aquarter-by-quarter basis. Future cash dividends are necessarily subject tobusiness conditions, the Company's financial position, and requirements forworking capital and other corporate purposes.

About Universal Insurance Holdings, Inc.

The Company is a vertically integrated insurance holding company operatingsolely in the state of Florida. Through its subsidiaries, the Company iscurrently engaged in insurance underwriting, distribution and claims.Universal Property & Casualty Insurance Company (UPCIC), which generatesrevenue from the collection and investment of premiums, is one of the topfive leading writers of homeowners insurance in the state of Florida andhas aligned itself with well respected service providers in the industry.

Cautionary Language Concerning Forward-Looking Statements

This press release contains "forward-looking statements" within the meaningof the Private Securities Litigation Reform Act of 1995. The words"believe," "expect," "anticipate," and "project," and similar expressionsidentify forward-looking statements, which speak only as of the date thestatement was made. Such statements may include, but not be limited to,projections of revenues, income or loss, expenses, plans, and assumptionsrelating to the foregoing. Forward-looking statements are inherentlysubject to risks and uncertainties, some of which cannot be predicted orquantified. Future results could differ materially from those described inforward-looking statements.

Investor Contact:Philip KranzDresner Corporate Services312-780-7240pkranz@dresnerco.com