CAVATAIO MICHAEL A

• Purchase • Sale • Planned purchase • Planned sale Net purchase Net sale Activity signal Earnings

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Abbreviations B: Buy, S: Sell, PP: Planned purchase, PlS: Planned sale, PrS: Proposed sale, O: Option / Other

Notification date	Transaction date	Company	B/S Transaction type	Nb. shares Price Value	Number of shares	Price	Value
2004-05-17	2004-05-14	Ceres Group Inc (CERG)	S Sale	52,267 +3.9% 289.96 US$4,050,255	52,267 +3.9%	289.96	US$4,050,255
2004-05-17	2004-05-13	Ceres Group Inc (CERG)	S Sale	11,185 +40.6% 193.84 US$4,912,601	11,185 +40.6%	193.84	US$4,912,601
2004-05-14	2004-05-12	Ceres Group Inc (CERG)	S Sale	9,352 +42.5% 55.65 US$862,098	9,352 +42.5%	55.65	US$862,098
2004-05-14	2004-05-12	Ceres Group Inc (CERG)	S Sale	777 -0.4% 6.13 US$4,763	777 -0.4%	6.13	US$4,763
2004-05-14	2004-05-12	Ceres Group Inc (CERG)	S Sale	500 -0.3% 6.14 US$3,070	500 -0.3%	6.14	US$3,070