Delphi Shareholders Approve Voluntary Liquidation

January 14, 2002

Delphi International Ltd., the parent of Bermuda-based specialty reinsurer Oracle Reinsurance Company Ltd., announced that a special general meeting of its shareholders, held on January 8, 2002, had approved the voluntary liquidation of the company and its subsidiaries.

The announcement confirmed that Delphi and its subsidiaries have now commenced liquidation under the Bermuda Companies Act of 1981, and that it expects that the liquidation procedures will be substantially completed by the end of March 2002.

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