Hamilton, Bermuda: 6 May, 2002. Max Re Capital Ltd. (NASDAQ: MXRE, BSX: MXRE.BH). The Board of Directors of Max Re Capital Ltd. declared a regular quarterly dividend of $0.02 per
common share at a meeting of the Board held on May 3, 2002.
The dividend is payable on May 31, 2002 to shareholders of record on May 17, 2002. Max Re Capital Ltd. through its principal operating subsidiary, Max Re Ltd., offers customized
reinsurance solutions to property and casualty insurers, life and health insurers, and large corporations.