ST. MICHAEL, Barbados - July 30, 2002 -- Everest Re Group, Ltd. (NYSE: RE) announced today that it has filed a Form S-3 universal shelf registration statement with the Securities and Exchange Commission. Upon being declared effective by the SEC, the universal shelf registration statement will enable the Company to offer newly issued securities from time to time, up to an aggregate of $475 million, subject to market conditions and the Company's capital needs.
The registration statement on Form S-3 relating to these securities has been filed with the SEC but is not yet effective. The securities described in the registration statement may not be sold nor may offers to buy be accepted prior to the time the universal registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
Copies of the prospectus contained in the registration statement may be obtained by contacting Jim Foster at (908) 604-3169.
Everest Re Group, Ltd. is a Bermuda holding company that operates through the following subsidiaries: Everest Reinsurance Company provides reinsurance to property and casualty insurers in both the US and international markets. Everest Reinsurance (Bermuda), Ltd. provides reinsurance to property and casualty and life insurers in both the Bermuda and international markets. Everest National Insurance Company and Everest Security Insurance Company provide property and casualty insurance to policyholders in the United States. Everest Indemnity Insurance Company offers excess and surplus lines insurance in the United States. Additional information on Everest Re Group companies can be found at the Group's web site at www.everestre.com.
