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PartnerRe Ltd. to Issue $250 million in 6.875% Senior Notes
Date:5/22/2008

PEMBROKE, Bermuda, May 22 /PRNewswire-FirstCall/ -- PartnerRe Ltd. (NYSE: PRE) today announced that it intends to issue, through its indirectly wholly-owned subsidiary PartnerRe Finance A LLC, $250 million of 10-year fixed rate 6.875% Senior Notes, pursuant to its currently effective shelf registration statement. The Senior Notes will be fully and unconditionally guaranteed by PartnerRe Ltd.

PartnerRe intends to use a portion of the proceeds from the offering to repay 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 be used for general corporate purposes.

This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any of the Senior Notes or any other security. Any such offers, or solicitations to buy, will be made solely by means of a prospectus and related prospectus supplement filed with the Securities and Exchange Commission. You may get these documents for free by searching the SEC on-line database at http://www.sec.gov. Alternatively, Credit Suisse Securities (USA) LLC will arrange to send you the prospectus upon request by contacting the Credit Suisse Prospectus Department located at One Madison Avenue, New York, NY 10010 (tel.: 1-800-221-1037), or, you may obtain the prospectus from Wachovia Capital Markets, LLC by calling 1-800-326-5897.

PartnerRe Ltd. is a leading global reinsurer, providing multi-line reinsurance to insurance companies. The Company, through its wholly owned subsidiaries, also offers alternative risk products that include weather and credit protection to financial, industrial and service companies. Risks reinsured inclu
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