ERIE, Pa. – Jan. 29, 2003 -- Erie Indemnity Company (Nasdaq: ERIE) announced today that it has priced the previously announced secondary offering by Black Interests Limited Partnership of 3,000,000 shares of its class A common stock at $34.50 per share.

A majority of the proceeds of the shares being offered as described in the prospectus will be used by the selling shareholder to pay estate taxes and other estate-related expenses arising from the recent death of Mr. Black’s mother and to make a charitable bequest. Erie Indemnity Company will not receive any proceeds from the sale of shares.

Goldman, Sachs & Co. is the sole bookrunner on the transaction with Credit Suisse First Boston as a joint lead manager. Advest, Inc., Cochran, Caronia & Co., and Legg Mason Wood Walker Incorporated are co-managers.

This announcement is not an offer to sell these securities, and it is not soliciting an offer to buy these securities in any state where the offer or sale is not permitted. Any offer will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. Copies of the prospectus with respect to this offering may be obtained from Goldman, Sachs & Co.

According to A.M. Best Company, Erie Insurance Group, based in Erie, Pennsylvania, is the 17th largest automobile insurer in the United States based on direct premiums written and the 25th largest property/casualty insurer in the United States based on total lines net premium written. The Group, rated A++ (superior) by A.M. Best Company, has more than 3.5 million policies in force and operates in 11 states and the District of Columbia.

News releases and more information about Erie Insurance Group are available at http://www.erieinsurance.com