Flagstone Re to Hold First-Quarter 2008 Earnings Call

Hamilton, Bermuda: April 28th, 2008 - Flagstone Reinsurance Holdings Limited (NYSE:FSR) today announced that it will hold an investment community conference call on Tuesday, May 6th, 2008, at 9:30am Eastern Time to discuss the company's first-quarter 2008 financial results with interested investors and shareholders.  Flagstone will release the results after the close of market on Monday, May 5th, 2008.

Executive Chairman Mark Byrne, Chief Executive Officer David Brown, and Chief Financial Officer James O'Shaughnessy will represent the company on the call.  The teleconference can be accessed by dialing (800) 659-2032 (US callers) or (617) 614-2712 (International callers) and entering the pass code 84067623 approximately 10-15 minutes in advance of the call.  A live, listen-only webcast of the call will be available via the Investor Information section of the Company's website at www.flagstonere.com

A replay of the teleconference will be available through June 6th, 2008 by dialing (888) 286-8010 (US callers) or (617) 801-6888 (International callers) and entering the pass code 40779630.  The webcast will be archived on the Company's website.

About Flagstone Reinsurance Holdings Limited

Flagstone Reinsurance Holdings Limited, through its operating subsidiaries, is a global reinsurance company that employs a focused and technical approach to the Property Catastrophe, Property, and Specialty reinsurance business. Flagstone Re and Flagstone Réassurance Suisse have received "A-" financial strength ratings from both A.M. Best and Fitch Ratings, and "A3" ratings from Moody's Investors Service.

CONTACT:

Flagstone Reinsurance Holdings Limited, Hamilton

Brenton Slade +1(441) 278-4303

bslade@flagstonere.bm