Transatlantic Holdings Appoints Tomio Higuchi to Board

August 25, 2003

The Board of Directors of Transatlantic Holdings, Inc., a leading international reinsurance organization, announced the appointment of Mr. Tomio Higuchi, Chairman of Millea Holdings, Inc. and President of The Nichido Fire & Marine Insurance Company, Limited, as a Director.

The Board of Directors of Transatlantic Holdings, Inc., a leading international reinsurance organization, announced the appointment of Mr. Tomio Higuchi, Chairman of Millea Holdings, Inc. and President of The Nichido Fire & Marine Insurance Company, Limited, as a Director.

He has replaced Mr. Takashi Aihara, who resigned as a Director of TRH upon his retirement from Nichido, where he served as Chairman of the Board.

TRH is headquartered in New York, with operations also based in Chicago, Toronto, Miami (serving Latin America and the Caribbean), Buenos Aires, Rio de Janeiro, London, Paris, Zurich, Warsaw, Johannesburg, Sydney, Hong Kong, Shanghai and Tokyo.

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