PXRE Group has announced that, conditioned on and subject to the completion of the merger transaction by and among PXRE, PXMS Inc. and US-based Argonaut Group, Inc., it has requested that the New York Stock Exchange suspend trading of its common shares on the NYSE at the opening of business tomorrow.

Tuesday is the expected closing date of the merger, at which time Bermuda-based PXRE expects its common shares to start trading on the NASDAQ Global Select Market.

The common shares will trade under the ticker symbol "AGII." Initially, a fifth character "D" will be appended to the "AGII" symbol for 20 trading days to reflect a one for ten reverse share split to be effected upon the completion of the merger.

Upon the completion of the merger, PXRE will change its name to Argo Group International Holdings, Ltd.

PXRE and Argonaut have received the required regulatory approvals in connection with the merger, however, the completion of the merger is subject to the satisfaction or waiver of the remaining closing conditions pursuant to the merger agreement.