Everest Re Files Universal Shelf Registration Statement

June 30, 2003

The Everest Re Group, Ltd., a Bermuda holding company that operates Everest Reinsurance Company and other subsidiary companies, announced that it has filed a Form S-3 universal shelf registration statement with the Securities and Exchange Commission, covering the sale of up to $975 million worth of its shares.

The Everest Re Group, Ltd., a Bermuda holding company that operates Everest Reinsurance Company and other subsidiary companies, announced that it has filed a Form S-3 universal shelf registration statement with the Securities and Exchange Commission, covering the sale of up to $975 million worth of its shares.

Upon being declared effective by the SEC, the statement will enable Everest to offer newly issued securities from time to time, subject to market conditions, in order to fulfill its capital needs. “The company has no immediate plans for security issuance and intends for the shelf registration to give it flexibility in managing the Company’s capital needs over an extended period,” said the bulletin.

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