Platinum Underwriters Holdings, Ltd. Announces Dividend to Be Paid on Series A Mandatory Convertible Preferred Shares

HAMILTON, Bermuda, Oct. 15 /PRNewswire-FirstCall/ — Platinum Underwriters Holdings, Ltd. announced today that a dividend of $0.4525 per preferred share will be paid on its Series A Mandatory Convertible Preferred Shares on November 17, 2008 to shareholders of record on November 3, 2008.

About Platinum

Platinum Underwriters Holdings, Ltd. is a leading provider of property, casualty and finite risk reinsurance coverages, through reinsurance intermediaries, to a diverse clientele on a worldwide basis. Platinum operates through its principal subsidiaries in Bermuda and the United States. The Company has a financial strength rating of A (Excellent) from A.M. Best Company, Inc. For further information, please visit Platinum’s website at http://www.platinumre.com/.

Platinum Underwriters Holdings, Ltd.

CONTACT: Lily Outerbridge, Investor Relations, +1-441-298-0760

Web Site: http://www.platinumre.com/