Canada Fairfax Reports 1Q 2001 Earnings

May 7, 2001

Canada’s Fairfax Financial Holdings Ltd. reported net income for the first quarter ended March 31 of $30.9 million (or $2.11 per share), down from $35.9 million (or $2.58 per share) for the same period in 2000.

The company attributed the earnings decrease in the first quarter to lower interest and dividend income on a lower average investment portfolio arising from 2000 net claims payments. These factors were partially offset by higher realized capital gains.

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