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Markel Reports Third Quarter and Nine-Month Results
Date:11/4/2008

onal Game Technology, that were deemed to have other-than-temporary declines in estimated fair value. This determination was made in conjunction with the completion of the Company's quarterly review of its investment portfolio for other-than-temporary impairment and reflects a more in-depth analysis of the financial condition and near-term prospects of these two issuers. The losses associated with these equity securities were initially included in the Company's preliminary estimate of the decrease in net unrealized investment gains, net of taxes, at September 30, 2008. As a result, the Company's preliminary estimate of aggregate net realized investment losses and decreases in pre-tax net unrealized investment gains was unchanged.

The Company also announced today it has filed its Form 10-Q for the quarter ended September 30, 2008 with the Securities and Exchange Commission. A copy of the Form 10-Q is available on the Company's website at http://www.markelcorp.com or on the SEC website at http://www.sec.gov. Readers are urged to review the Form 10-Q for a more complete discussion of the Company's financial performance. The Company's quarterly conference call, which will involve discussion of the Company's financial results and business developments and may include forward-looking information, will be held Wednesday, November 5, 2008, beginning at 10:30 a.m. (Eastern Standard Time). Any person interested in listening to the call, or a replay of the call, which will be available from approximately two hours after the conclusion of the call until Saturday, November 15, 2008, should contact Markel's Investor Relations Department at 804-747-0136. Investors, analysts and the general public also may listen to the call free over the Internet through the Company's web site, http://www.markelcorp.com.

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