LANCASTER,PA - Anchor Liz Claman of Fox Business Net

							                             CORPORATE LEADERS RECEIVE EIGHTH ANNUAL

                               EMERALD ASSET MANAGEMENT “E-3 AWARDS”




                                                                       February 11, 2008




PHILADELPHIA, PA – The Chief Executive Officers of Philadelphia Consolidated
Holding Co. (NASDAQ – PHLY) and Alnylam Pharmaceuticals Inc. (NASDAQ – ALNY)
are among four corporate executives named as the recipients of the eighth annual “E-3
Awards,” presented by Emerald Asset Management at the Fifteenth Annual Emerald
Groundhog Day Investment Forum. The Forum was held in Philadelphia on February 7,
2008.


Joseph Besecker, President of Emerald Asset Management said, “We created this
unique award to recognize leaders who epitomize the qualities that are inherent in the
most successful business leaders – qualities that reflect an entrepreneurial spirit and a
commitment to excellence,” adding, “The award’s name – E-3 – reflects these criteria:
the Emerald Entrepreneurial and Excellence Award.” Joseph Garner, Director of
Research for Emerald, said, “These leaders have taken risks and fueled innovation.
They have created jobs and built companies. They have bested their competitors and
rewarded their employees and shareholders. They are leaders in every sense of the
word.”


         Through an intensive multi-faceted process, Emerald’s team of research analysts
and portfolio managers identified corporate leaders who have demonstrated:
                A creative “outside the box” approach to corporate achievement;
                An entrepreneurial approach that maximizes human initiative;
                A corporate culture that promotes personal and corporate excellence;
                A demonstrated record of accomplishment: creating jobs, stimulating
                growth, and enhancing shareholder value; and
                An ability to effectively identify and adapt cutting-edge technologies and
                processes.
The 2008 winners of the E-3 Award are:


Public Company Executive Award:


        James J. Maguire, Jr., President & CEO, Philadelphia Consolidated Holding Co.
        (NASDAQ - PHLY)
Warren “Pete” Musser Private Company Executive Award:


        Michael J. Cardillo, Thomas A. Masci, Jr., Arthur N. Leibowitz, David S.
        Rocchino, and Martin B. Rosen, Co-Founders of Health Advocate, Inc.


Public Company Science & Technology Company Executive Award:


        John Maraganore, Ph.D. CEO, Alnylam Pharmaceuticals, Inc. (NASDAQ - ALNY)


Green Company Executive Award:


        Malcolm Hayward, CEO, CeeLite Corporation


Emerald Asset Management is a diversified investment services company that
operates through its three subsidiary Advisors: Emerald Advisers, Inc., Emerald Mutual
Fund Advisers Trust and Emerald Fixed Income Advisers, LLC. With over $2.5 billion in
assets under management, Emerald Advisory Services offers a series of research-driven
investment products through institutional separate accounts and sub-advising mutual
funds, including the Forward Emerald Growth Fund (HSPGX), Forward Emerald Banking
& Finance Fund (HSSAX), and the Forward Emerald Opportunities Fund (HSYTX) within
the Forward Funds Group. Emerald is headquartered in Lancaster, Pennsylvania and
operates satellite offices in King of Prussia and Pittsburgh, Pennsylvania and San Diego,
California.