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BSX Insurance Index Committee Announces Addition To Constituent Base

16 August 2001

Hamilton, Bermuda 16 August 2001 - The Bermuda Insurance Index Advisory Committee today announced that pursuant to the Ground Rules for the Management of the BSX Bermuda Insurance Index Max Re Capital Ltd. (MXRE) has been added to the Index's constituent base, with immediate effect.

In compliance with Index regulations, Max Re a NASDAQ listed security, is domiciled in Bermuda and meets the listing and trading requirements of the regulations.

The addition of Max Re brings the total number of Index constituents to twelve, with a combined market cap of $28.9 billion.

A copy of the Bermuda Insurance Index Ground Rules may be obtained from the Bermuda Stock Exchange (BSX), please contact Greg Wojciechowski at the Bermuda Stock Exchange, 292-7212 email, ceo@bsx.com.