Alternative Re Names Gavin Collery President and COO

August 29, 2003

Alternative Re Limited, a subsidiary of Arch Capital Group Ltd., announced that as of September 1 Gavin P. Collery will join the company as President and Chief Operating Officer, based in the company’s Bermuda offices.

Alternative Re Limited, a subsidiary of Arch Capital Group Ltd., announced that as of September 1 Gavin P. Collery will join the company as President and Chief Operating Officer, based in the company’s Bermuda offices.

Prior to joining Alternative Re, Collery spent eight years with Marsh Management Services providing captive, rent-a-captive and alternative risk financing solutions in their Dublin, Ireland and Bermuda offices where he held the position of vice president, client services.

“Alternative Re Limited and its affiliated companies, Alternative Insurance Company Limited, Alternative Underwriting Services Limited and Alternative Re Holdings, all of which are also subsidiaries of Arch Capital Group Ltd., provide alternative risk financing solutions to clients, including corporations, industry groups and associations through captive and rent-a-captive facilities,” said the announcement. The companies operate “under a Bermuda Private Act providing legal separation of risks and financing between the participants. In addition, Alternative Underwriting Services Limited operates as a management company providing clients with set-up and management services for single-owner and group-captive activities.”

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