Scottish Re Group Limited is offering offered 6.25 million newly issued ordinary shares at $24 per share. Approximately 3.15 million ordinary shares were also borrowed and offered in connection with forward sale agreements. The company will use the proceeds for general corporate purposes, which may include investments in or advances to subsidiaries, possible acquisitions, working capital and other corporate purposes.

The Company has also granted the underwriters a 30-day option to purchase up to an additional 1.41 million ordinary shares.

Bear, Stearns & Co. Inc., Lehman Brothers Inc., Banc of America Securities LLC, Goldman, Sachs & Co., Wachovia Capital Markets, LLC, A.G. Edwards & Sons, Inc., Fox-Pitt, Kelton Incorporated, Keefe, Bruyette & Woods, Inc. and Oppenheimer & Co. Inc. are the underwriters for the offering. Bear, Stearns & Co. Inc. and Lehman Brothers Inc. are joint book running managers for the offering.