TRANSAT HLDS 
By
For information, contact: Thomas V. Cholnoky
(212) 365-2292
Remains in Discussions with Validus and Other Interested Parties
NEW YORK - November 1, 2011 - Transatlantic Holdings, Inc.
(NYSE: TRH) ("Transatlantic") today acknowledged
that Validus Holdings, Ltd. (NYSE: VR) ("Validus")
has extended its exchange offer for all of the outstanding
shares of common stock of Transatlantic to
5:00 p.m. ET on Friday, November 25, 2011, unless further
extended by Validus. The Validus exchange offer was
previously set to expire at 5:00 p.m. ET on Monday, October
31, 2011.
As previously announced on July 28, 2011, the Transatlantic
Board of Directors recommended that stockholders reject the
Validus exchange offer. Transatlantic made the Board's
position on the Validus exchange offer available to
stockholders in a solicitation/recommendation statement on
Schedule 14D-9, which has been filed with the Securities and
Exchange Commission ("SEC") and published on
Transatlantic's website at www.transre.com.
The Company noted that it continues to exchange information
and remains in discussions with Validus and other parties
regarding potential strategic alternatives. Transatlantic is
fully committed to reaching a conclusion to this process
expeditiously. There can be no assurance that these
discussions will result in a proposal or a transaction.
Transatlantic does not intend to comment further regarding
its discussions unless and until required by law or NYSE
regulations.
Goldman, Sachs & Co. and Moelis & Company LLC are acting as
financial advisors and
Gibson, Dunn & Crutcher LLP is acting as legal counsel to
Transatlantic.
About Transatlantic Holdings, Inc.
Transatlantic Holdings, Inc. is a leading international reinsurance organization headquartered in New York, with operations on six continents. Its subsidiaries, Transatlantic Reinsurance Company®, Trans Re Zurich Reinsurance Company Ltd. and Putnam Reinsurance Company, offer reinsurance capacity on both a treaty and facultative basis
