X0202 4 2005-02-25 0 0000800082 ARGONAUT GROUP INC AGII 0001211319 HAUSHILL MARK W 10101 REUNION PLACE SUITE 500 SAN ANTONIO TX 78216 0 1 0 0 Senior Vice President Common Stock 2005-02-25 4 M 0 21500 18.375 A 21500 D Common Stock 2005-02-25 4 S 0 20500 23.48 D 1000 D Common Stock 2005-02-25 4 F 0 1000 23.61 D 0 D Stock Option (Right to Buy) 18.375 2005-02-25 4 M 0 21500 18.375 D 2011-12-08 Common Stock 21500 3500 D Stock Option (Right to Buy) 23.61 2005-02-28 4 A 0 1000 23.61 A 2005-08-18 2011-12-08 Common Stock 1000 1000 D Sale of Common Stock issued upon exercise of Stock Options. Average price of all sales made on February 25, 2005. Reflects sale of 1,000 shares previously owned by Mr. Haushill and used as a partial payment of the tax liability arising out of the exercise of the 21,500 options reflected on Table II. Granted under the Argonaut Group, Inc. Amended and Restated Stock Incentive Plan on December 8, 2000. Pursuant to the Plan, 25% of the options granted vest on each anniversary date of the grant such that the options fully vest in four years. Pursuant to the Argonaut Group, Inc. Amended and Restated Stock Incentive Plan, the Company granted Mr. Haushill 1,000 new options exercisable in six months from the date of the grant in consideration of him using previously owned Common Stock of the Company in order to partially pay tax liability arising out of the 21,500 Options noted above. Byron L. LeFlore, Jr. 2005-03-01