MAX RE CAPITAL –

Hamilton , Bermuda

Went public 08/14/01 at $16 per share

Filing Range: 12.0 million shares at $16 to $16.50

Offering Size: $192.0 million

Shares Outstanding: 49.5 million

Underwriters: Morgan Stanley/Salomon Smith Barney/Goldman Sachs &

Co./Dresdner Kleinwort Wasserstein/ Banc of America Securities

LLC

Company Counsel: Akin, Gump, Strauss, Hauer & Feld

Manager Counsel: LeBoeuf, Lamb, Greene & MacRae

Auditor: KPMG

The Company:

Offers customized, alternative risk transfer reinsurance products designed to produce large up-front premiums; generate more predictable, long duration cash outflows and limit underwriting risk through contractual terms.

Venture Backers:

Moore Capital Management Inc.

Capital Z Investment Partners

Citigroup Inc.

Financing Rounds:

Number of Round Amt.

Round # Round Date Stage Investors ($ thousands)

1 12/22/1999 4 Expansion 331022.0

2 03/21/2000 4 Expansion 109790.0

3 05/10/2001 1 Later Stage 15000.0

Financials:

($ in million, except EPS)

Y/E

12/31/00

Total Revenues: $451.3

Net Income: 8.7

EPS: 0.36