X0202 4/A 2004-11-02 2004-11-03 0 0000910110 PENN AMERICA GROUP INC PNG 0001244970 MORRIS JOSEPH F 420 S. YORK ROAD HATBORO PA 19040 0 1 0 0 Sr. V.P., CFO & Treasurer Common Stock 2004-11-02 4 M 0 24200 4.917 A 85190 D Common Stock 2004-11-02 4 M 0 11796 7.3 A 85190 D Common Stock 2004-11-02 4 S 0 237 14.7 D 84953 D Common Stock 2004-11-02 4 S 0 475 14.72 D 84478 D Common Stock 2004-11-02 4 S 0 375 14.73 D 84103 D Common Stock 2004-11-02 4 S 0 13200 14.75 D 70903 D Common Stock 2004-11-02 4 S 0 100 14.76 D 70803 D Common Stock 2004-11-02 4 S 0 12900 14.77 D 57903 D Common Stock 2004-11-02 4 S 0 6196 14.78 D 51707 D Common Stock 2004-11-02 4 S 0 1313 14.79 D 50394 D Common Stock 2004-11-02 4 S 0 1200 14.81 D 49194 D Non-Qualified Stock Option (right to buy) 7.3 2002-01-02 4 M 0 11796 7.9 D 2003-01-02 2012-01-02 Common Stock 29490 17694 D Non-Qualified Stock Option (right to buy) 4.917 2000-09-05 4 M 0 24200 4.917 D 2001-09-05 2010-09-05 Common Stock 37500 7500 D The trades reported on this amended Form 4 were previously reported on a Form 4 filed on November 3, 2004. This amended Form 4 is being filed to provide additional detail regarding the previously reported trades. Vests at 1/5 per year beginning 01/02/03. Vests at 1/5 per year beginning 09/05/01 Joseph F. Morris 2004-11-09