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PartnerRe Names Underwriters In Offering of 8 Million Common Shares

PEMBROKE, BERMUDA: November 4, 2002 - PartnerRe Ltd. (NYSE:PRE) today named the underwriters in its Offering of 8 million Common Shares to the public.

Salomon Smith Barney is acting as the sole book-running lead manager for the Offering. Goldman Sachs and UBS Warburg are acting as co-lead managers and Fox-Pitt Kelton is a co-manager in the Offering.

The Offering was announced earlier today by PartnerRe Ltd. The net proceeds from the Offering will be used in part to repurchase 6 million Common Shares from Swiss Reinsurance Company. The shares repurchased by PartnerRe will be cancelled and no longer outstanding. The remaining net proceeds will be used for general corporate purposes of the Company.