This page includes Regulatory news filings supplied by issuers listed on the BSX. Please note the BSX is not responsible for the content, accuracy or completeness of announcements filed by issuers and disclaims all liability for any loss arising from reliance on information contained within issuer announcements.

PartnerRe Ltd. Provides Outlook On First Quarter 2003 Earnings

28 28 2003

Pembroke, Bermuda: April 28, 2003 - PartnerRe Ltd. (NYSE:PRE) today announced that it expects to report first quarter diluted net income per share bwtween $2.20 and $2.24 and diluted operating earnings per share between $1.48 and $1.52.

Diluted operating earnings per share excludes the impact of approximately $0.72 per share of net after-tax realized investment gains included in diluted net income per share for the quarter. The company also expects to report diluted book value per share of approximately $35.50 as of March 31, 2003.

PartnerRe Ltd. expects to release its first quarter results following the market close on Monday, May 5, 2003 with a subsequent dial-in analyst conference call on Tuesday, May 6, 2003 at 10 a.m. Eastern.

The Company uses operating earnings, diluted operating earnings per share and operating return on beginning equity to measure performance as these measures focus on the underlying fundamentals of our operations without the influence of realized gains and losses from the sale of investments, which is driven by the timing of the disposition of investment and not by our operating performance.