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PartnerRe intends to use a portion of the proceeds from the offering torepay all of the $220 million of third-party bank debt owed by PartnerRe U.S.Holdings Corporation, due in December 2008. Any remaining proceeds will beused for general corporate purposes.
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This press release does not constitute an offer to sell, or a solicitationof an offer to buy, any of the Senior Notes or any other security. Any suchoffers, or solicitations to buy, will be made solely by means of a prospectusand related prospectus supplement filed with the Securities and ExchangeCommission. You may get these documents for free by searching the SEC on-linedatabase at www.sec.gov. Alternatively, Credit Suisse Securities (USA) LLCwill arrange to send you the prospectus upon request by contacting the CreditSuisse Prospectus Department located at One Madison Avenue, New York, NY 10010(tel.: 1-800-221-1037), or, you may obtain the prospectus from WachoviaCapital Markets, LLC by calling 1-800-326-5897.
PartnerRe Ltd. is a leading global reinsurer, providing multi-linereinsurance to insurance companies. The Company, through its wholly ownedsubsidiaries, also offers alternative risk products that include weather andcredit protection to financial, industrial and service companies. Risksreinsured include property, casualty, motor, agriculture, aviation/space,catastrophe, credit/surety, engineering, energy, marine, specialty property,specialty casualty, multiline and other lines, life/annuity and health, andalternative risk products. For the year ended December 31, 2007, totalrevenues were $4.2 billion. At March 31, 2008, total assets were $17.3billion, total capital was $5.3 billion and total shareholders' equity was$4.5 billion.
PartnerRe on the Internet: www.partnerre.com
Forward-looking statements contained in this press release are based onthe Company's assumptions and expectations concerning future events andfinancial performance and are made pursuant to the safe harbor provisions ofthe Private Securities Litigation Reform Act of 1995. Such statements aresubject to significant business, economic and competitive risks anduncertainties that could cause actual results to differ materially from thosereflected in the forward-looking statements. PartnerRe's forward-lookingstatements could be affected by numerous foreseeable and unforeseeable eventsand developments such as exposure to catastrophe, or other large property andcasualty losses, adequacy of reserves, risks associated with implementingbusiness strategies, levels and pricing of new and renewal business achieved,credit, interest, currency and other risks associated with the Company'sinvestment portfolio, changes in accounting policies, and other factorsidentified in the Company's filings with the Securities and ExchangeCommission. In light of the significant uncertainties inherent in the forward-looking information contained herein, readers are cautioned not to place unduereliance on these forward-looking statements, which speak only as of the dateson which they are made. The Company disclaims any obligation to publiclyupdate or revise any forward-looking information or statements.Contacts: PartnerRe Ltd. (441) 292-0888 Investor Contact: Robin Sidders, Investor Relations Media Contact: Celia Powell, Corporate Communications Sard Verbinnen (212) 687-8080 Drew Brown/Jane Simmons
SOURCE PartnerRe Ltd.
