Everest Re Extends CEO Taranto’s Employment Agreement

September 1, 2005

The Bermuda-based Everest Re Group, Ltd. announced that the employment agreement of Chairman and CEO Joseph V. Taranto, has been extended to March 31, 2008.

Taranto has been in charge at Everest Re since it was formed in 1995, following the public offering of shares by its predecessor, Prudential Re.

Everest Re Group, Ltd. is a Bermuda holding company that operates through the following subsidiaries: Everest Reinsurance Company provides reinsurance to property and casualty insurers in both the U.S. and international markets. Everest Reinsurance (Bermuda), Ltd., including through its branch in the United Kingdom, provides reinsurance and insurance to worldwide property and casualty markets and reinsurance to life insurers. Everest National Insurance Company and Everest Security Insurance Company provide property and casualty insurance to policyholders in the U.S. Everest Indemnity Insurance Company offers excess and surplus lines insurance in the U.S.

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