Montpelier Re Extends Taylor's Service Agreement

July 28, 2004

Montpelier Re Holdings Ltd., a Bermuda-based provider of global property and casualty reinsurance and insurance products, announced it has agreed to extend Anthony Taylor's service as the company's chairman, president and chief executive officer.

Under the agreement, Taylor will continue at these posts for an additional three years, through Dec. 31, 2007. Once finalized, the new service agreement will be filed on Form 8-K.

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