MXRE Max RE Capital Ltd. (MM)

HAMILTON, Bermuda, Oct. 30 /PRNewswire-FirstCall/ -- Max Re Capital Ltd. (NASDAQ:MXRE)(BSX:MXREBSX:BH). At a meeting of the Board of Directors of Max Re Capital Ltd. held on October 26, 2006, the Board of Directors declared a dividend of $0.07 per share. (Logo: http://www.newscom.com/cgi-bin/prnh/20010918/MXRELOGO-b ) The dividend is payable on November 30, 2006 to shareholders of record on November 9, 2006. Max Re Capital Ltd. through its principal operating subsidiaries, Max Re Ltd., Max Insurance Europe Limited and Max Re Europe Limited, offers insurance and reinsurance solutions to property and casualty insurers, life and health insurers and large corporations. The above remarks about future expectations, plans, prospects and beliefs from the Company are forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those suggested by such statements, including the risk that the final conclusion of the Audit and Risk Management Committee's reopened investigation as announced on October 29, 2006 could result in a further restatement of the Company's financial statements for the years ending December 31, 2001 through 2005, the risk that the Securities and Exchange Commission may take a different view than that taken by the Audit and Risk Management Committee or the risk that the SAS 100 review and audit or any SEC inquiry or review will result in material changes to retained earnings as of December 31, 2005 or June 30, 2006 or net income for the nine months ended September 30, 2006 or to information contained in the Company's past SEC filings, including financial statements and financial information. For further information regarding cautionary statements and factors affecting future results, please refer to the Company's Annual Report on Form 10-K for the year ended December 31, 2005 and other documents filed with the Securities and Exchange Commission. Contact Information: Keith S. Hynes Executive Vice President & Chief Financial Officer 441-296-8800 N. James Tees Senior Vice President & Treasurer 441-296-8800 http://www.newscom.com/cgi-bin/prnh/20010918/MXRELOGO-b http://photoarchive.ap.org/ DATASOURCE: Max Re Capital Ltd. CONTACT: Keith S. Hynes, Executive Vice President & Chief Financial Officer, +1-441-296-8800, , or N. James Tees, Senior Vice President & Treasurer, +1-441-296-8800, Web site: http://www.maxre.bm/

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