Alleghany and Transatlantic Provide Update to Stockholders Regarding Closing Date of Merger

Alleghany Corporation

and Transatlantic Holdings, Inc.

today announced that the closing of the pending merger has been scheduled for March 6, 2012. As previously announced, on November 20, 2011, Transatlantic entered into an Agreement and Plan of Merger with Alleghany Corporation and Shoreline Merger Sub, Inc..