Max Re Resolves Potential Delisting Problem with NASDAQ

June 16, 2006

Bermuda-based Max Re Capital Ltd. announced that, “after filing its delayed Form 10-Q for the three months ended March 31, 2006 with the SEC on June 8, 2006, the Company has been notified by the NASDAQ staff that its filing delinquency has been cured and the NASDAQ Staff Determination to delist the Company’s securities is moot.”

Max Re’s filing had been delayed by an internal audit concerning certain finite reinsurance transactions. The Company completed its internal investigation at the end of May and subsequently filed the required reports (See IJ Website June 1,May 31, 22 and 2).

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