(Daytona Beach and Tampa, Florida) . . . Brown & Brown, Inc. (NYSE: BRO) announced record quarterly earnings for the third quarter of 2001 of $13,068,000 compared with $8,830,000 recorded in the third quarter of 2000, an increase of 48.0%. Per share net income rose 44.8% to $0.42 per share, compared with $0.29 per share in the third quarter of last year. Total revenue for the quarter ended September 30, 2001 was up 40.0% to $85,234,000 compared with the 2000 third-quarter revenue of $60,900,000.

Total revenue for the nine months ended September 30, 2001 was $255,334,000 compared with revenue for the same period in 2000 of $184,749,000, up 38.2%. Net income for the nine months ended September 30, 2001 was $38,435,000, or $1.24 per share, compared with the $26,535,000, or $0.88 per share, posted during the same period last year. This represents a 44.8% and 40.9% increase in net income and net income per share, respectively, over the same period in 2000.

J. Hyatt Brown, Chairman, President and CEO, commenting on the results, said, "We are delighted with the continuation of our very strong pattern of growth, which has resulted in our 35^th consecutive quarter of increased earnings per share. Our internal growth rate for the third quarter continues to be strong at 12.1%. We are also pleased to report that the 17 acquisitions completed during the first three quarters of 2001 are contributing nicely to our growth in both revenues and net income."

Brown & Brown, Inc. and its subsidiaries provide a broad range of insurance products and services, as well as risk management, employee benefit administration, and managed health care services through offices located across the United States. The company is ranked by Business Insurance magazine as the nation's eighth largest independent insurance intermediary organization. Our Web address is www.bbinsurance.com.

This press release may contain certain statements relating to future results which are forward-looking statements. These statements are not historical facts, but instead represent only the Company's belief regarding future events, many of which, by their nature, are inherently uncertain and outside of the Company's control. It is possible that the Company's actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in these forward-looking statements. Further information concerning the Company and its business, including factors that potentially could materially affect the Company's financial results, are contained in the Company's filings with the Securities and Exchange Commission. Some factors include: general economic conditions around the country, downward commercial property and casualty premium pressures, the competitive environment, the potential occurrence of a disaster that affects certain areas of the States of Arizona, Florida and/or New York, where significant portions of the Company's business are concentrated, and the performance of newly acquired entities. All forward-looking statements included in this press release are made only as of the date of this press release, and we do not undertake any obligation to publicly update or correct any forward-looking statements to reflect events or circumstances that subsequently occur or of which we hereafter become aware.

(In thousands, except per share data)