PMA Capital Corporation

PMA Capital Corporation is listed on AMEX (PMK). We are a property and casualty insurance holding company, which offers through our subsidiaries workers compensation, integrated disability and, to a lesser extent, other standard lines of commercial insurance, primarily in the eastern part of the United States. These products are written through The PMA Insurance Group, our property and casualty insurance segment, which has been in operation since 1915. Our Run-off Operations include our prior reinsurance and excess and surplus lines operations. Additionally, we have a Corporate and Other segment, which primarily includes corporate expenses, including debt service. At December 31, 2004, we had total assets of $3.3 billion and shareholders equity of $445.5 million. Our business profile changed significantly in 2003 and 2004. On November 4, 2003, we announced a third quarter pre-tax charge of $150 million to increase the loss reserves for our reinsurance business for prior accident years. Following this announcement, A.M.

PMC - Sierra Inc.

PMC - Sierra Inc. is listed on NASDAQ (PMCS). PMC-Sierra, Inc. designs, develops, markets and supports high-speed broadband communications and storage semiconductors and MIPS-powered microprocessors for service provider, enterprise, storage, and wireless networking equipment. We have more than 230 different semiconductor devices that are sold to leading equipment manufacturers, who in turn supply their equipment principally to communications network service providers and enterprises. We provide superior semiconductor solutions for our customers by leveraging our intellectual property, design expertise and systems knowledge across a broad range of applications. PMC-Sierra was incorporated in the State of California in 1983 and reincorporated in the State of Delaware in 1997. Our Common Stock trades on the Nasdaq National Market under the symbol PMCS and is included in the S&P 500 index.

Resources Connection Inc. ..nal services firm that provides experienced accounting and finance, risk management and internal audit, information technology, human resources, suppl..

RGC Resources Inc. .. may publish forward-looking statements relating to such matters as anticipated financial performance, business prospects, technological developments,..

Polo Ralph Lauren Corporation ..we, our, us and the Company refer to Polo Ralph Lauren Corporation and its subsidiaries, unless the context requires otherwise. Due to the collaborati..

RARE Hospitality International Inc. ..ies operates and franchises 269 restaurants as of February 21, 2005, including 219 LongHorn Steakhouse restaurants, 20 The Capital Grille restaurants..

Ryder System Inc. ..d in 1955, is a leader in transportation and supply chain management solutions. Our business is divided into three business segments: Fleet Management..

Summit Bank Corporation ..mpany for the Summit National Bank that provides various banking services in the United States. The bank accepts various deposit products, including c..

Schweitzer-Mauduit International Inc. ..nless the context indicates otherwise, references to we, us, our, SWM, Schweitzer-Mauduit or similar terms include Schweitzer-Mauduit International, I..

Scottish RE Group Limited ..provide solutions to insurance companies seeking reinsurance of life insurance, annuities and annuity-type products. We reinsure lines of business tha..

Stillwater Mining Company ..ration, development, mining and production of platinum, palladium and associated metals from the Stillwater Complex in southern Montana, which the Com..

SIFCO Industries Inc. ..incorporated in 1916. The executive offices of the Company are located at 970 East 64th Street, Cleveland, Ohio 44103, and its telephone number is (21..

Smart and Final Inc. ..porated in 1991 and headquartered in Commerce, California that conducts its business through various subsidiaries. References in this Annual Report to..

SunLink Health Systems Inc. .. share and revenue per equivalent admission amounts) Overview We are SunLink Health Systems, Inc. Unless the context indicates otherwise, all referenc..

SpatiaLight Inc. ..ution LCoS microdisplays. Our current customers and current prospective customers are OEMs engaged in the businesses of manufacturing high definition ..

Sappi Limited ..the Republic of South Africa. Its principal executive offices are located at 48 Ameshoff Street, Braamfontein, Johannesburg 2001, Republic of South Af..

Silver Standard Resources Inc ..evelopment of the Company General Background We were incorporated in British Columbia, Canada, on December 11, 1946 under the name Silver Standard Min..

Stratus Properties Inc. ..ties and Exchange Commission (SEC) pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended, are made available, free of ..

Silverstar Holdings Ltd ..inesses fitting a predefined investment strategy. We are the parent company of Fantasy Sports, Inc., which operates the Fantasycup.com website, and sp..

Systemax Inc. ..ivate label products, including personal desktop computers (PCs), notebook computers, computer related products and industrial products, in North Amer..

Transgenomic Inc. ..e synthesis, purification and analysis of nucleic acids. Our operations fall into two principal business units, BioSystems and Nucleic Acids. Our BioS..

TDK Corporation ..i kaisha) formed under Japanese law. It's principal place of business is at 13-1, Nihonbashi 1-chome, Chuo-ku, Tokyo 103-8272, Japan and the telephone..

Thoratec Corporation ..rt products for use by patients with congestive heart failure, or CHF. We are a leading provider of circulatory support products worldwide. We sell Ve..

Leather Factory Inc. (The) ..road line of leather and related products, including leather, leatherworking tools, buckles and adornments for belts, leather dyes and finishes, saddl..

Todd Shipyards Corporation ..and has operated a shipyard in Seattle, Washington (the Shipyard) since incorporation. The Company is incorporated under the laws of the State of Dela..

Texas Roadhouse Inc. ..orated under the laws of the state of Delaware in 2004. From April 1, 1997 through October 8, 2004, the business of the Company was conducted by Texas..

Tredegar Corporation ..h its subsidiaries, in the manufacture of plastic films and aluminum extrusions. We also operate Therics Inc. (Therics), which has developed and in 20..

Telestone Technologies Corp. ..otherwise requires, all references in this Annual Report to the terms Company, Telestone, we, our, or us shall mean Telestone Technologies Corporation..

Thomas & Betts Corporation ..nd manufacturer of electrical connectors and components used in industrial, commercial, communications, and utility markets. We are also a leading pro..

United Dominion Realty Trust Inc. ..istered real estate investment trust, or REIT, that owns, acquires, renovates, develops, and manages middle-market apartment communities nationwide. A..

United America Indemnity Ltd. ..nounced merger with Penn-America Group, Inc. (NYSE: PNG) as well as the previously announced acquisition of Penn Independent Corporation. In connectio..

United Technologies Corporation ..n Delaware in 1934. UTC provides high technology products and services to the building systems and aerospace industries worldwide. Growth is attributa..

Village Bank and Trust Financial Corp. .. company of and successor to Southern Community Bank & Trust. Effective April 30, 2004, the Company acquired all of the outstanding stock of the Bank ..

Valley Bancorp ..ith the mission of providing community bank services to Las Vegas and its neighboring suburbs. The Company provides banking and other financial servic..

Virco Manufacturing Corporation ..urniture for a diverse family of customers is a 55-year tradition at Virco Mfg. Corporation (Virco). Over the years, Virco has become the largest manu..

Westlake Chemical Corporation ..rketer of basic chemicals, vinyls, polymers and fabricated products. Our products include some of the most widely used chemicals in the world, which a..

MEMC Electronic Materials Inc. ..the semiconductor industry. We are one of the top three wafer suppliers in the world. We are one of four wafer suppliers having more than a 10% share ..

Williams Industries Inc. ..the construction services market, providing specialized services to customers in the commercial, industrial, institutional, and governmental markets. ..

WorldSpace Inc. ..Executive Officer, Noah Samara, who pioneered the development of satellite-based digital radio service, commonly known as Digital Audio Radio Service ..

West Coast Bancorp ..nized under the laws of the state of Oregon in 1981 under the name Commercial Bancorp. Commercial Bancorp merged with West Coast Bancorp, a one-bank h..

XM Satellite Radio Holdings Inc. ..ompany, providing music, entertainment and information programming for reception by vehicle, home and portable radios nationwide and over the internet..

Zila Inc. ..e technologies and products, focusing on enhanced body defense and the detection of pre-disease states. In this report, Zila, the Company, we, us, or ..

Asco Plc Ads ..hat develops, manufactures and markets innovative pharmaceutical and chemical products for a range of targeted, highly specialized applications. In 20..

Active Power Inc. ..oducts that provide the consistent, reliable electric power required by today's digital economy. We believe that we are the first company to commercia..

Adobe Systems Incorporated .. of the largest and most diversified software companies in the world. We offer a line of creative, business and mobile software and services used by h..

Alliance Fiber Optic Products Inc. ..ipates, believes, estimates, plans, intends, could, will, may and similar expressions are intended to identify forward-looking statements. These are s..

A.G. Edwards Inc. ..inancial services holding company incorporated in 1983 whose principal subsidiary, A.G. Edwards & Sons, Inc. (Edwards), is the successor to a partners..

Aaron Rents Inc. ..d in the combined businesses of the rental, lease ownership and specialty retailing of consumer electronics, residential and office furniture, househo..

Altair Nanotechnologies Inc. ..nd operations in the United States, whose primary business is developing and commercializing nanomaterial and titanium dioxide pigment technologies. W..

American Medical Systems Holdings Inc. ..ems Holdings, Inc. has operated as a single business developing, manufacturing, and marketing medical devices to physicians. We manufacture and market..

Ameritrans Capital Corporation ..trans, our, us,) was formed in 1998 to engage in lending and investment activities, primarily with small and medium-sized businesses, directly and thr..

Ansoft Corporation ..electronic design automation (EDA) software. Ansoft products are used by electrical engineers worldwide to design of state-of-the-art technology produ..

AP Pharma Inc. ..ements herein are forward- looking and are subject to a number of risks and uncertainties that could cause actual results to differ materially from th..

Aerosonic Corporation ..wn as Instrument Technology Corporation (ITC). ITC, which was incorporated in 1968, was the surviving corporation of a merger, in 1970, with Aerosonic..

Asyst Technologies Inc. ..ed hardware and software automation systems primarily for the semiconductor, and secondarily for the flat panel display, or FPD, manufacturing industr..

ATS Medical Inc. ..e, us, or our) is a Minnesota corporation founded in June, 1987. We develop, manufacture, and market medical devices. Our primary interest lies with d..

Aviall Inc. ..t global provider to the aerospace aftermarket of new aviation parts, supply-chain management and other related value-added services. We serve this ma..

Alderwoods Group Inc ..tor of funeral homes and cemeteries in North America based on total revenue and number of locations. As of January 1, 2005, the Company operated 648 f..

Blockbuster Inc. ..n-home rental and retail movie and game entertainment, with approximately 9,100 stores in the United States, its territories and 24 other countries as..

BEA Systems Inc. ..ial Condition and Results of Operations-Risk Factors That May Impact Future Operating Results for risk factors that may adversely affect the Company. ..

Baker Hughes Incorporated ..we, our or us) is a Delaware corporation engaged in the oilfield services industry. Baker Hughes is a major supplier of wellbore-related products and ..

Blair Corporation ..Blair, Sr., and was incorporated in 1924 under the laws of the State of Delaware. The Companys business consists of the sale of fashion apparel for me..

Bristol West Holdings Inc ..on, is a provider of non-standard private passenger automobile insurance and related services. When this report uses the words we, us, and our, these ..

Bowl America Inc. ..he Company) was incorporated in 1958. The Company commenced business with one bowling center in 1958, and at the end of the past fiscal year, the Comp..

C-COR Incorporated ..ontains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-lookin..

ChoicePoint Inc. ..nt), was incorporated in 1997. Over the past seven years, ChoicePoint has transformed from a predominately manually-driven and insurance customer-focu..

CNET Networks Inc. ..nd creator of content environments for the interactive age. CNET Networks takes pride in being a different kind of media company, creating richer, dee..

CarrAmerica Realty Corporation ..ed, self-administered and self-managed publicly traded real estate investment trust (REIT). We focus on the acquisition, development, ownership and op..

Cowlitz Bancorporation ..r Washington law to become the holding company for Cowlitz Bank, a Washington state chartered bank that commenced operations in 1978. The principal ex..

Dollar General Corporation ..eading discount retailer of quality general merchandise at everyday low prices. Through conveniently located stores, the Company offers a focused asso..

Deutsche Telekom AG ..company is Deutsche Telekom AG. We are a private stock corporation organized under German law. Our registered office is located at Friedrich-Ebert-All..

Endurance Specialty Holdings Ltd ..in Bermuda. Through our operating subsidiaries based in Bermuda, the United Kingdom and the United States, we focus on underwriting specialty lines of..

Eschelon Telecom Inc. ..ge carrier (CLEC), is headquartered in Minneapolis, Minnesota and was incorporated in Delaware in 1996 under the name Advanced Telecommunications, Inc..

FactSet Research Systems Inc. ..inancial intelligence to the global investment community. FactSet applications support and make more efficient an array of workflows for buy and sell ..

Fonar Corporation ..mpany or Fonar, is a Delaware corporation which was incorporated on July 17, 1978. Our address is 110 Marcus Drive, Melville, New York 11747 and our t..

GMX Resources Inc. ..roducer headquartered in Oklahoma City, Oklahoma. As of December 31, 2004, our principal drilling and development activities were focused on our prope..

General Dynamics Corporation ..tical information systems and technologies; land and expeditionary combat vehicles, armaments and munitions; shipbuilding and marine systems; and busi..