the company. 1,726,137 common shares in RenaissanceRe are being offered by the United States Fidelity and Guarantee Company which was one of the three initial shareholders when RenaissanceRe was founded as a private company in 1993.

United States Fidelity and Guarantee Company is a wholly owned subsidiary of The St. Paul Companies, and these shares constitute all the shares of RenaissanceRe owned by the St.Paul Companies and its affiliates.

As a public company RenaissanceRe has filed a registration statement with the Securities and Exchange Commission in the US which has not yet become effective.

These securities may not be sold nor may offers to buy be accepted prior to the registration statement becoming effective, and this announcement by the company does not constitute an offer to buy or the solicitation of an offer to buy. And these securities may not be sold in any state in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

The shares may be sold either through a syndicated underwritten public offering or a block trade. Any offering will be made only by means of a written prospectus and prospectus supplements meeting the requirements of the US Securities Act.