Montpelier Re Holdings Ltd. announced last week that it has filed a Form S-1 registration statement after it received notices from shareholders requesting registration of a portion of their outstanding common shares. Montpelier will not be selling any common shares in connection with the requested registration and will not receive any proceeds from any offering. The requesting shareholders are Cypress Merchant B Partners II (Cayman) LP, DLJMB Overseas Partners III LP, Vestar AIV Holdings A LP, Gilbert Global Equity Partners (Bermuda), LP and entities associated with each of them. The registration statement relates to up to an aggregate of 5,400,000 common shares, although the ultimate size of any offering may change depending upon whether other eligible shareholders promptly elect to participate in the registration, as well as market conditions. The registration statement includes the common shares subject to the option anticipated to be granted to the underwriters to cover over-allotments.

The shareholders' request is being made pursuant to the terms of the shareholders' agreement among Montpelier and shareholders that invested in Montpelier at its formation in 2001.