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Montpelier Re Announces Three Year Extension Of Anthony Taylor's Service Agreement

28 28 2004

Hamilton, Bermuda: 27 July 2004 - Montpelier Re Holdings Ltd. (NYSE: MRH) today announced that it has agreed terms for an extension of Anthony Taylor's employment. Pursuant to such terms, Mr. Taylor will continue as the Company's Chairman, President and Chief Executive Officer for an additional three years through December 31, 2007. Once finalized, the new service agreement will be filed on Form 8-K.

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.

Media and Investor Relations:

Keil Gunther, 441-297-9570

SOURCE: Montpelier Re Holdings Ltd.