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Montpelier Re Announces Quarterly Dividend

17 17 2004

HAMILTON, Bermuda: June 16, 2004 - The Board of Directors of Montpelier Re Holdings Ltd. (NYSE - MRH) has declared a quarterly dividend of $0.34 per Common Share. The dividend is payable on July 15th, 2004 to shareholders of record on June 30th, 2004.

Montpelier Re Holdings Ltd., through its operating subsidiary, Montpelier Reinsurance Ltd., is a premier provider of global property and casualty reinsurance and insurance products. Montpelier Reinsurance Ltd. is rated "A" (Excellent) by A.M. Best Company, "A-" (Strong) by Standard & Poor's and "A3" (Good) by Moody's Investors Service.

CONTACT: Montpelier Re Holdings Ltd., Hamilton

Media and Investor Relations:

Keil Gunther, 441-296-5550

SOURCE: Montpelier Re Holdings Ltd.