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Walter Kielholz to Retire from PartnerRe's Board of Directors

24 24 2003

PEMBROKE, BERMUDA, March 21, 2003 - PartnerRe Ltd. (NYSE:PRE) announced today that Walter Kielholz will not stand for re-election as a Director of PartnerRe Ltd., in order to devote more time to his new role as Chairman of Credit Suisse Group and his continuing duties with Swiss Re. Mr. Kielholz will complete his term as Director at the Company's Annual General Meeting in May.

Patrick Thiele, President and CEO of PartnerRe said, "Walter has been a member of PartnerRe's Board since the Company's inception in November 1993. He was one of the original architects of this Company and has been an important contributor to our success. His stewardship as a knowledgeable industry voice on our Board has helped drive PartnerRe to the strong position it has currently reached. My fellow Board Members join me in thanking him for his dedication and contribution."

John Rollwagen, Chairman of the Board of Directors of PartnerRe said, "With 25 years experience in the reinsurance industry, Walter Kielholz has provided the Board with invaluable insight. He has been a great contributor to the development and growth of the Company, and I would like to personally thank him for his support to me, and the rest of the Board.