co-investors to acquire two reinsurance subsidiaries of Petrofina S.A.

Petrofina S.A. is a subsidiary of TotalFina Elf S.A. TotalFina Elf is the fourth largest oil company in the world with group activities spanning all aspects of the energy industry and is also a major player in the chemical industry.

The subsidiaries, Brittany Insurance Company Ltd. ("Brittany''), incorporated in Bermuda, and Compagnie Europeenne d'Assurances Industrielles S.A. Enstar, along with a private Bermuda firm experienced in managing and acquiring captive reinsurance operations, and an entity controlled by Trident II, L.P.

have formed BH Acquisition Limited in Bermuda to acquire Brittany and CEAI.