Swiss Re Asks PartnerRe to Register Shares for Sale

April 30, 2003

Bermuda’s PartnerRe Ltd. announced that it has received a notice of exercise of rights from Swiss Re under the terms of the Registration Rights Agreements between PartnerRe Ltd. and Swiss Re.

PartnerRe said it “intends to file promptly a Registration Statement on Form S-3 with the Securities and Exchange Commission on behalf of Swiss Re relating to the sale of 8,340,731 shares, which represents their [Swiss Re’s] total shareholding in PartnerRe Ltd. following the cashless exercise of warrants and options.”

The bulletin also warned that The securities may not be sold nor may offers to buy be accepted prior to the time that the Registration Statement becomes effective.

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