Transatlantic Holdings, Inc. Raises Common Stock Dividend by 13.6 Percent

Business Wire, May 20, 1999

NEW YORK--(BUSINESS WIRE)--May 20, 1999--

The Board of Directors of Transatlantic Holdings, Inc. (NYSE: TRH) today declared a quarterly cash dividend of $0.125 per share on the Company's common stock, payable September 17, 1999, to stockholders of record on September 3, 1999. This represents a 13.6 percent increase over the prior quarterly dividend.

Transatlantic Holdings, Inc. (TRH) is a leading international reinsurance organization headquartered in New York, with operations also based in Chicago, Toronto, Miami (serving Latin America and the Caribbean), Buenos Aires, Rio de Janeiro, London, Paris, Zurich, Johannesburg, Hong Kong, Shanghai and Tokyo. TRH has consolidated assets of $5.4 billion and stockholders' equity of $1.6 billion. Its subsidiaries, Transatlantic Reinsurance Company (TRC) and Putnam Reinsurance Company are each rated "A (Superior)", the highest rating classification, by A.M. Best Company. Moody's Investors Service has assigned an insurance financial strength rating of Aa1 ("Excellent") to TRC. Standard & Poor's has assigned an insurer financial strength rating of "AA" to TRC and Putnam and "A" to Trans Re Zurich. These subsidiaries offer reinsurance capacity on both a treaty and facultative basis -- structuring traditional and non-traditional programs for a full range of property and casualty products, with an emphasis on specialty risks.

For additional information about the Company, visit Transatlantic's Web site: http://www.transre.com