Universal Insurance Holdings, Inc. Subsidiary UPCIC Has Applied for Expansion Into Five Additional States

FORT LAUDERDALE, FL--(Marketwire - February 4, 2008) - Universal Insurance Holdings, Inc. (UIH) (AMEX: UVE), a vertically integrated insurance holding company, announced that its subsidiary Universal Property & Casualty Insurance Company (UPCIC) has applied to expand into five additional states including Texas, Hawaii, Georgia, South Carolina and North Carolina.

Bradley I. Meier, president and chief executive officer, commented, "During the past several months our team has worked diligently on the application process, which included the preparation to meet each state's regulatory requirements, and the receipt of Florida Office of Insurance Regulation (OIR) approval of an amendment to UPCIC's articles of incorporation. With the applications finalized, we are hoping to complete this process and receive our licenses to each state within the next six months."

Mr. Meier added, "Given our company's homeowners' insurance expertise and UPCIC's strong capital position, expansion into additional states is a logical next step to diversify beyond Florida and create additional growth opportunities. We look forward to working with each state to receive approval."

About Universal Insurance Holdings, Inc.

The Company is a vertically integrated insurance holding company operating solely in the state of Florida. Through its subsidiaries, the Company is currently engaged in insurance underwriting, distribution and claims. Universal Property & Casualty Insurance Company (UPCIC), which generates revenue from the collection and investment of premiums, is one of the top five leading writers of homeowners insurance in the state of Florida and has aligned itself with well respected service providers in the industry.

Readers should refer generally to reports filed by the Company with the Securities and Exchange Commission (SEC), and specifically to the Company's Form 10-KSB for the year ended December 31, 2006 for a discussion of the risk factors that could affect its operations. Such factors include, without limitation, exposure to catastrophic losses; reliance on the Company's reinsurance program; underwriting performance on catastrophe and non-catastrophe risks; the ability to maintain relationships with customers, employees or suppliers; and competition and its effect on pricing, spending, third-party relationships and revenues. Additional factors that may affect future results are contained in the Company's filings with the SEC, which are available on the SEC's web site at http://www.sec.gov. The Company disclaims any obligation to update and revise statements contained in this press release based on new information or otherwise.

Cautionary Language Concerning Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "anticipate" and "project," and similar expressions identify forward-looking statements, which speak only as of the date the statement was made. Such statements may include, but not be limited to, projections of revenues, income or loss, expenses, plans, and assumptions relating to the foregoing. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future results could differ materially from those described in forward-looking statements.

Contact Information: Investor Contact: Philip Kranz Dresner Corporate Services 312-780-7240 pkranz@dresnerco.com