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PartnerRe Files Shelf Registration Statement

PEMBROKE, BERMUDA, November 27, 2002 -- PartnerRe Ltd. (NYSE:PRE) today announced that the Company has filed with the Securities and Exchange Commission (SEC) a shelf registration statement for the proposed offering from time to time of up to $600 million of securities.

This latest shelf registration statement will carry forward the unused portion of the currently effective shelf registration filed on December 14, 2001 and replenish that portion utilized in the offering dated November 8, 2002. At that time, PartnerRe entered into a lock-up arrangement, which restricts it from issuing equity or equity-like instruments until February 6, 2003.

The shelf registration statement will provide the Company with the flexibility to sell debt securities, common and preferred shares, warrants and share purchase contracts and units, as well as trust preferred securities or a combination of the above.

A registration statement relating to the securities listed in the shelf registration statement has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.