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Montpelier Re Holdings Ltd. Announces Quarterly Dividend

09 9 2005

HAMILTON, Bermuda: March 8, 2005 - The Board of Directors of Montpelier Re Holdings Ltd. (NYSE:MRH) has declared a quarterly dividend of $0.36 per Common Share. The dividend is payable on April 15th, 2005 to shareholders of record on March 31st, 2005.

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, "A3" (Good) by Moody's Investor Service and "A-" (Strong) by Standard & Poor's, and was founded in December 2001. During the 12 months ended December 31st, 2004, Montpelier underwrote $837 million in gross premiums written. Shareholders' equity at December 31st, 2004 was $1.8 billion. Additional information can be found in Montpelier's public filings with the Securities and Exchange Commission.

CONTACT: Montpelier Re Holdings Ltd., Hamilton
Treasurer: Neil McConachie, 441-296-9576