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REPORT ON EXAMINATION

OF THE

INSURANCE PLACEMENT FACILITY OF DELAWARE

AS OF

December 31, 2005

The above captioned Report was completed by examiners of the Delaware Insurance Department.

Consideration has duly been given to the comments, conclusions, and recommendations of the examiners regarding the status of the Company as reflected in the Report.

This Report is hereby accepted, adopted, and filed as an official record of this Department.

____________________________________ MATTHEW DENN INSURANCE COMMISSIONER

DATED this 9TH Day of AUGUST 2007.

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