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Harbor Point
issued the following press release December 19, 2006. For HARBOR POINT ANNOUNCES THE FORMATION OF NEW POINT RE New Point Re to be Capitalized
with $250 Million to Write Collateralized Retro Pembroke, Bermuda, December 19, 2006 - Harbor Point Limited (Harbor Point) today announced the formation of New Point Re Limited (New Point Re). New Point Re is a Bermuda Class 3 reinsurance company that will be capitalized with approximately $250 million and was formed specifically for writing collateralized retrocessional contracts, including collateralized industry loss warranties (ILWs). Harbor Point will be a minority investor in New Point Limited, the parent company of New Point Re. Harbor Point also announced the formation of a wholly-owned subsidiary, Harbor Point Agency Limited, to provide all underwriting and management services to New Point Re. John R. Berger, CEO of Harbor Point, said, New Point Re will provide needed capacity to the retro marketplace, serving as an effective vehicle for Harbor Point to deliver this product to the market. This is another opportunity for us to leverage our underwriting expertise while meeting client-specific needs. The securities have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States unless registered under the Securities Act or under an applicable exemption from such registration requirements. This release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful. About Harbor Point
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