Everest Re Group Sells 4.48 Million Shares

April 24, 2003

Barbados-based Everest Re Group, Ltd. announced that it has sold 4,480,135 common shares through an underwriting placement with Goldman Sachs, who will re-offer the shares to investors.

Everest Re recently reported strong first quarter earnings, and upped its forecasts for the year. (See IJ Website April 22.)

Its shares, traded on the New York Stock Exchange, closed at $73.01 yesterday, up $1.31, making the transaction worth around $327 million.

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