Odyssey Re Holdings Corp. To Participate in a Ferris Baker Watts Panel Discussion in New York

Business Wire, April 4, 2005

STAMFORD, Conn. -- Odyssey Re Holdings Corp. (NYSE: ORH) announced today that Michael G. Wacek, Chief Executive Officer of the Americas, is scheduled to participate in a specialty insurance and reinsurance panel discussion hosted by Ferris Baker Watts at The Metropolitan Club in New York City. The panel discussion will take place on Tuesday, April 5, 2005 at 3.30 p.m. Eastern Daylight Saving Time.

A simultaneous audio webcast may be accessed through OdysseyRe's website at www.odysseyre.com on the webcasts page of the Investor Relations section or by logging on to http://vcall.com/CustomEvent/NA015026/91102/index.asp. The presentation will be archived for approximately 14 days after the event.

Odyssey Re Holdings Corp. is a leading worldwide underwriter of property and casualty treaty, program and facultative reinsurance, as well as specialty insurance. OdysseyRe operates through its subsidiaries, Odyssey America Reinsurance Corporation, Hudson Insurance Company, Clearwater Insurance Company, Hudson Specialty Insurance Company and Newline Underwriting Management Limited. With $1.6 billion in stockholders' equity at December 31, 2004, the Company underwrites through four divisions: Americas, EuroAsia, London Market and U.S. Insurance, with major underwriting centers in the United States, London, Paris, Singapore, Latin America and Toronto. Odyssey Re Holdings Corp. is listed on the New York Stock Exchange under the symbol, ORH. OdysseyRe is rated "A" (Excellent) by A.M. Best Company and "A-" (Strong) by Standard & Poor's.

Certain statements contained herein may constitute forward-looking statements and are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following: the occurrence of catastrophic events with a frequency or severity exceeding the Company's estimates; the lowering or loss of one of the Company's financial or claims-paying ratings, including those of the Company's subsidiaries; changes in interest rates; changes in premium volumes; increased competition; regulatory and legislative changes; changes in loss payment patterns; changes in estimated overall adequacy of loss and LAE reserves; changes in key management personnel; changes in general market or economic conditions; and other factors which are described in the Company's filings with the Securities and Exchange Commission.