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Just in Time for the Holidays: buySAFE and The Hartford Launch First Bonding Service To Protect Consumers from Online Shopping Risks

New service uses surety bonds to protect online auction buyers from transaction risks

Alexandria, Va. (November 17, 2003) - buySAFE, Inc. and The Hartford Financial Services Group, Inc. (NYSE: HIG) today launched buySAFE with The Hartford to address online auction risks. The new service combines the latest advances in technology with the proven, centuries-old concept of surety bonds. With online retail sales projected to hit record-highs this holiday season, buySAFE with The Hartford is designed to help make online commerce safer for shoppers, more profitable for merchants and more economically efficient for online marketplaces.

buySAFE with The Hartford is the only service that enables approved sellers in online transactions to both present a credibility seal and financially protect buyers using surety bonds. buySAFE performs a rigorous qualification check on sellers to reduce problems such as fraud or misrepresentation. The buySAFE Seal informs buyers they are dealing with a reputable, trustworthy merchant. The Hartford, one of the top 10 U.S. surety bond writers, underwrites and issues surety bonds for a qualified seller's online transactions. The bonds provide that The Hartford will refund the item's sale price or replace the item in the event the bonded seller does not fulfill the terms of the sale. This protects consumers from certain online transaction risks such as fraud, misrepresentation, refund failure and seller default, which means buyers have one less worry during the holiday shopping crunch.

Utilizing state-of-the-art underwriting techniques and technologies, buySAFE with The Hartford enables online merchants to use surety bonds to protect certain types of online commerce. Surety bonds have been used for many centuries to guarantee traditional business transactions where the buyer and seller do not know each other. The rigorous qualification process associated with surety bonds reduces the likelihood of financial loss. When a surety bond is in place, and certain problems arise with a bonded transaction, the buyer is protected from financial risk.

Online fraud is a major issue. Six months ago, the Federal Trade Commission and 29 state attorneys general announced "Operation Bidder Beware," a major new crackdown on Internet auction fraud. Of the more than 48,000 online fraud referrals that were made to state and federal agencies last year, nearly half involved auction fraud. buySAFE with The Hartford protects buyers from many types of loss, enabling them to focus on the more attractive aspects of online auctions - bidding, buying and having fun! Sellers, now able to demonstrate their trustworthiness and financially protect their sales transactions with surety bonds, can experience increased bid prices and sales. Online marketplaces like eBay, Amazon.com Auctions and Yahoo! Auctions can enjoy a safer and more profitable marketplace, experience increased bidding from current auction buyers, and attract new shoppers who previously were wary about the risks of Internet auction purchases.

Marjie Smith, founder and president of Abovethemall.com, has operated an eBay business for the past five years. She states: "More than half of my customers have expressed a concern about online auction fraud, which makes my reputation as a seller integrally important to my success. buySAFE with The Hartford takes the load off me as a seller. My bidders know I can be trusted and they have one of the highest levels of protection available for their online transactions. Additionally, other online auction protection plans are cumbersome and costly for the merchant, but buySAFE with The Hartford is streamlined and objective, protecting all parties in the marketplace. There's nothing else like buySAFE with The Hartford in the market today."

Jeffrey E. Grass, president and CEO of buySAFE, said: "As an avid online auction buyer, I'm proud to say buySAFE has been specifically designed to benefit everyone in the online auction community. Our goal is simple: to make online auctions safer for buyers, more profitable for sellers and more economically efficient for online marketplaces. With the holiday shopping season fast approaching, consumers who purchase from buySAFE-certified sellers can gain peace-of-mind knowing they are dealing with merchants they can trust."

"The Hartford and buySAFE are breaking new ground by applying a classic surety product to solve an emerging problem," said David Zwiener, The Hartford's president and COO of property-casualty operations. "We've launched buySAFE with The Hartford on a national scale and in record time to meet a fast-growing need in a huge market. The Hartford is keenly focused on launching new programs that capitalize on markets with tremendous growth potential. We're always thinking ahead."

To learn more about buySAFE with The Hartford, visit www.buysafe.com.

about buySAFE

buySAFE makes online marketplaces safer, resulting in reduced risks for buyers and increased profit opportunities for sellers. buySAFE with The Hartford is the first and only service to guarantee online transactions for buyers by using surety bonds to provide protection from risks, such as fraud, misrepresentation, refund failure and seller default. Using the latest advances in business assessment techniques and technologies, buySAFE comprehensively qualifies online sellers and provides the buySAFE Seal to approved sellers for display on their auction listings, which informs buyers that they are dealing with a reputable and trustworthy seller. Approved sellers can guarantee their online transactions with surety bonds issued by The Hartford Financial Services Group, Inc. Headquartered in Alexandria, Va., buySAFE is on the Web at www.buysafe.com.

about The Hartford

The Hartford Financial Services Group, Inc. is one of the nation's largest investment and insurance companies, with 2002 revenues of $16.4 billion. The company is a leading provider of investment products, life insurance and group benefits; automobile and homeowners products; and business property and casualty insurance.

The Hartford's Internet address is www.thehartford.com.

Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include those discussed in our Quarterly Reports on Form 10-Q, our 2002 Annual Report on Form 10-K and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued.

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