Scottish Re Group has again postponed the release of its fourth quarter results.

The company decided its independent registered public accounting firm Ernst & Young LLP needed more time to evaluate it in light of the continuing deterioration in the credit markets and the resulting further declines in the market value of its investment portfolio.

Scottish Re previously announced that it expected to report its 2007 fourth quarter results after the market closed on Thursday, March 27, 2008 and expected to host an earnings conference call to discuss the fourth quarter and full year results on Friday, March 28, 2008. But on Thursday it said it was postponing the release and conference call to a later date, which has yet to be announced.

In a press release, the company said on Thursday it had filed a Form 12b-25 with the Securities and Exchange Commission (SEC) on March 12 stating that it was postponing the filing of its Annual Report on Form 10-K for the year ended December 31, 2007 beyond the due date and that it intended to file its Form 10-K on or about April 1, 2008 so that the company could: complete its process of evaluating mark-to-market valuations and other-than-temporary impairments in the carrying value of its available-for-sale securities; address the accounting and disclosure requirements arising from the company's recently announced change in strategy; and allow sufficient time for Ernst & Young LLP, to complete its audit of the company's consolidated financial statements for the year ended December 31, 2007. The company, on Thursday, filed with the SEC an amendment to its Form 12b-25 in respect of the matters noted in this release.

The company, in consultation with Ernst & Young, decided additional work is required to evaluate and conclude on the amount of other-than-temporary impairment charges to be recognised in the consolidated financial statements in accordance with US GAAP.