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PartnerRe Declares Preferred Share Dividend

Pembroke, Bermuda: April 25, 2003 - PartnerRe Ltd. (NYSE:PRE) announced that its Board of Directors has declared a dividend for the period January 1 2003 - March 31, 2003 of $0.50 per share on the company's 8% Series A Cumulative Preferred Shares.The dividend will be payable on June 2, 2003,to shareholders of record on May 2, 2003.

PartnerRe Ltd. is a leading global reinsurer, providing multi-line reinsurance to insurance companies. Risks reinsured include property, catastrophe, agriculture, automobile, casualty, marine, aviation/space, credit/surety, engineering/energy, technical and miscellaneous lines, life/annuity and health. In 2002 total revenues were $2.7 billion, while total assets were $8.7 billion, total capitalization was $2.7 billion and total shareholders' equity was $2.1 billion.