PartnerRe Ltd. Estimates Claims From Asian Earthquake/Tsunami Will Be Between $25-$35 Million PEMBROKE, Bermuda, Jan. 11 /PRNewswire-FirstCall/ -- PartnerRe Ltd. (NYSE: PRE) today estimated that claims relating to its exposure to the earthquake and resulting tsunami in Southeast Asia on December 26, 2004 are expected to be between $25-$35 million. PartnerRe President & CEO Patrick Thiele said, "This event is an unprecedented human tragedy, with the extraordinary loss of life and widespread devastation across the region representing what has become one of the worst natural disasters in recent history. On behalf of all of PartnerRe, I express our deepest sorrow over the significant loss of life and our sympathies go out to all those who have been affected by this terrible tragedy." PartnerRe's loss estimate is based on the assessment of individual treaties and is spread across most segments, particularly Worldwide Specialty, Global P&C and Life. In addition to property losses, exposure is concentrated in the personal accident, life, and marine lines of business. PartnerRe management will provide additional information on the fourth quarter and full year 2004 in its earnings press release on February 7, 2005 and subsequent conference call on February 8, 2005 at 10 a.m. EST. PartnerRe Ltd. is a leading global reinsurer, providing multi-line reinsurance to insurance companies. Risks reinsured include property, casualty, motor, agriculture, aviation/space, catastrophe, credit/surety, engineering/energy, marine, special risks, other lines, life/annuity and health, and alternative risk transfer solutions. At year-end 2003, total revenues were $3.9 billion. As of September 30, 2004, total assets were $11.9 billion, total capitalization was $3.4 billion and total shareholders' equity was $2.8 billion. Our major reinsurance operations have ratings of AA- from Standard & Poor's, Aa3 from Moody's, A+ from A.M. Best, and AA from Fitch. PartnerRe on the Internet: http://www.partnerre.com/ Forward-looking statements contained in this press release are based on the Company's assumptions and expectations concerning future events and financial performance and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are subject to significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. PartnerRe's forward-looking statements could be affected by numerous foreseeable and unforeseeable events and developments such as exposure to catastrophe or other large losses, adequacy of reserves, risks associated with implementing business strategies, levels and pricing of new and renewal business achieved, credit, interest, currency and other risks associated with the Company's investment portfolio and other factors identified in the Company's filings with the Securities and Exchange Commission. In light of the significant uncertainties inherent in the forward-looking information contained herein, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made. The Company disclaims any obligation to publicly update or revise any forward-looking information or statements. DATASOURCE: PartnerRe Ltd. CONTACT: Investors - Robin Sidders, or Media - Celia Powell, both of PartnerRe Ltd., +1-441-292-0888; Jim Barron or Hallie Bozzi, both of Citigate Sard Verbinnen, +1-212-687-8080, for PartnerRe Ltd. Web site: http://www.partnerre.com/

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