OdysseyRe Completes Stock Sale

October 13, 2005

OdysseyRe Holdings Corp. announced that it has completed the previously announced sale of 4,100,000 shares of its common stock, at a price of $24.96 per share (See IJ Web site Oct. 7).

Net proceeds to OdysseyRe were approximately $102 million. Wachovia Capital Markets, LLC acted as sole underwriter on the transaction. Canada’s Fairfax Financial Holdings Limited, which owns 80 percent of OdysseyRe, had agreed to purchase 3,100,000 of the shares of the offering.

“A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission,” said the announcement. “The offering was made pursuant to a prospectus supplement to the registration statement on file with the SEC.”

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