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PartnerRe Ltd. Received Registration Request From Swiss Re

30 30 2003

Pembroke, Bermuda: April 29, 2003 - PartnerRe Ltd.(NYSE:PRE) announced that it has today received from Swiss Re a notice of exercise of their rights under the terms of the Registration Rights Agreements between PartnerRe Ltd. and Swiss Re.

PartnerRe intends to file promptly a Registration Statement on Form S-3 with the Securities and Exchange Commission on behalf of Swiss Re relating to the sale of 8,340,731 shares, which represents their total shareholding in PartnerRe Ltd. following the cashless exercise of warrants and options.