Transatlantic Re Elects Officers, Increases Dividend

May 16, 2003

The Board of Directors of Transatlantic Reinsurance Company, a subsidiary of Transatlantic Holdings, Inc., announced the election of Officers and an increase in dividend payments at its recent regularly scheduled meeting.

The Board of Directors of Transatlantic Reinsurance Company, a subsidiary of Transatlantic Holdings, Inc., announced the election of Officers and an increase in dividend payments at its recent regularly scheduled meeting.

The following people were elected to the offices indicated:
— Robert V. Mucci – Executive Vice President & Chief Actuary
— Shawn Lynch – Vice President
— Kevin Chiella – Assistant Vice President
— Robert S. Rosen – Assistant Vice President
— Timothy Butts – Secretary
–Tonya Davies – Secretary
All of these positions are in TransRe’s New York Office.

The Board of Directors also declared a quarterly cash dividend of $0.11 per share on the Company’s common stock, payable September 12, 2003, to stockholders of record on September 5, 2003. “This represents a 10 percent increase over the prior quarterly dividend. The Board of Directors has raised the quarterly dividend every year since TRH became a public company in 1990,” said the announcement.

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