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Compensation Risk Managers, LLC Receives Notice of Administrative Action by New York Workers' Compensation Board
Date:4/17/2008

ations. There are or may be important factors that could cause actual results to differ materially from the forward-looking statements we make in this document. Such risks and uncertainties are discussed in the Company's Form 10-K for the year ended December 31, 2006 and in other documents filed by the Company with the Securities and Exchange Commission. We believe that these factors include, but are not limited to the following:

-- The cyclical nature of the insurance and reinsurance industry;

-- Premium rates;

-- Investment results;

-- Regulatory changes;

-- The estimation of loss reserves and loss reserve development;

-- Reinsurance may be unavailable on acceptable terms, and we may be

unable to collect reinsurance;

-- The occurrence and effects of wars and acts of terrorism;

-- The effects of competition;

-- The possibility that the outcome of any litigation or arbitration

proceeding is unfavorable;

-- Failure to retain key personnel;

-- Economic downturns; and

-- Natural disasters.

These risks and others could cause actual results to differ materially from those expressed in any forward-looking statements made. The Company undertakes no obligation to update publicly or revise any forward-looking statements made.


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SOURCE CRM Holdings, Ltd.
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