Robert J. Cooney, Chairman, President and Chief Executive Officer of Max Re Capital Ltd.,
Rings The NASDAQ Stock Market Opening Bell

Tuesday, August 1, 2006
at NASDAQ's MarketSite
in New York City.

Max Re Capital Ltd.
[MXRE]

Robert J. Cooney, Chairman, President and Chief Executive Officer of Max Re Capital Ltd., presides over the opening bell.

From offices in Bermuda and Dublin, Max Re underwrites a wide range of property and casualty reinsurance and insurance transactions, as well as life and annuity reinsurance. We expect to create value by generating an underwriting profit and by utilizing an investment strategy that combines investment in traditional high-grade fixed income securities, tailored to the underlying insurance liabilities, with a significant allocation to alternative investment classes.

Click for larger pictures of the NASDAQ MarketSite. Additional Photographs for 8/1/2006 Download Hi-Res Quality Photo of this NASDAQ Market Open - Pictured: Robert J. Cooney, Chairman, President and Chief Executive Officer of Max Re Capital Ltd., rings the Opening Bell These photos are Copyright 2006, The Nasdaq Stock Market Inc. and available for re-publication by the news media only. Any commercial use is strictly prohibited without the prior written consent of The Nasdaq Stock Market Inc. © Copyright 2006, The NASDAQ Stock Market, Inc. Reprinted with the permission of The Nasdaq Stock Market, Inc.