PXRE Adds Kelly to Board of Directors

April 26, 2005

Bermuda-based PXRE Group Ltd. announced that Jonathan Kelly has been named to its Board of Directors, effective immediately. Kelly will fill the vacancy created by the resignation of Susan Fleming Cabrera.

Bermuda-based PXRE Group Ltd. announced that Jonathan Kelly has been named to its Board of Directors, effective immediately. Kelly will fill the vacancy created by the resignation of Susan Fleming Cabrera.

Kelly, 40, is currently a principal of Capital Z Partners. Prior
to joining Capital Z Partners in 1998, Kelly was as a senior vice
president in the Investment Banking Division of Donaldson, Lufkin & Jenrette (DLJ). Kelly is currently a director of British Marine Holdings Ltd., SBJ Group Inc. and Infotel, SA.

PXRE provides reinsurance products and services to a worldwide marketplace. The company’s primary focus is providing property catastrophe reinsurance and retrocessional coverage.

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