Endurance Specialty Holdings Ltd. announced it has entered into a three-year $850 million revolving credit and letter of credit facility with a consortium of leading financial institutions. The full amount of the facility may be used to issue letters of credit or for revolving credit borrowings.

The facility was arranged by J.P. Morgan Securities Inc. and Wachovia Capital Markets LLC acting as joint bookrunners and joint lead arrangers, and Wachovia Bank, National Association as syndication agent.

HAMILTON, Bermuda, Aug. 5 /PRNewswire-FirstCall/ -- Aspen Insurance

Holdings Limited (NYSE: AHL; BSX: AHL BH) today announced that Bret Pearlman

will step down from the company's Board of Directors. Mr. Pearlman's

resignation coincides with his move to Elevation Partners. His resignation is

effective immediately. Aspen will seek to fill the vacant directorship left

by Mr. Pearlman as soon as practicable and has commenced a search for

independent director candidates.

"On behalf of the entire Board, I thank Bret for his manifold

contributions to Aspen's success," said Chris O'Kane, chief executive officer.

"The insights and experiences he brought to bear on Aspen's behalf have made

our company stronger. We wish Bret all the best in his new endeavors with

Elevation Partners."

The lenders under the facility are: JPMorgan Chase Bank, Wachovia Bank, N.A., Bank of America, N.A., Barclays Bank, The Bank of New York, Calyon, ING Bank N.V., Comerica Bank, Deutsche Bank AG, HSBC Bank USA, N.A., Lloyds TSB Bank plc, The Bank of Nova Scotia, The Royal Bank of Scotland, Commerzbank AG, The Bank of N.T. Butterfield & Son Limited, Credit Suisse First Boston, Goldman Sachs Credit Partners, and Merrill Lynch Bank USA.

Michael J. McGuire, senior vice president of Finance of Endurance Specialty Holdings, commented, "We are very pleased to have entered into this facility with such strong financial partners. We are particularly appreciative of the commitments that all of our long-term financial partners have made in extending their support of Endurance for an additional three years. This facility provides Endurance with significant financial flexibility, liquidity and letter of credit capacity to support our clients' needs."