Max Cap CEO Sends Shareholders an Upbeat Letter

January 25, 2008

In a letter addressed to the shareholders, employees and other stakeholders of Max Capital Group Ltd. W. Marston (Marty) Becker, Chairman and CEO, offered a detailed review of the Group’s financial position.

In discussing Max Capital’ s performance and progress in 2007 and the outlook for the Company in 2008, Becker described the year just ended as “the best year in Max’ s short, eight-year history,” and projected continued strong performance in 2008.

The Company will announce its fourth quarter and full year results on February 13, followed by a conference call.

The full text of Mr. Becker’ s letter may be obtained on the Group’s web site at:

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