3,500,000 Shares MONTPELIER RE HOLDINGS LTD. Common Shares, Par Value 1/6 cent Per Share UNDERWRITING AGREEMENT November 16, 2004Underwriting Agreement • November 19th, 2004 • Montpelier Re Holdings LTD • Fire, marine & casualty insurance • New York
DLJ Merchant Banking III, Inc., as Managing General Partner on behalf of DLJMB Overseas Partners III, C.V. By: /s/ Kenneth Lohsen Name: Kenneth Lohsen Title: Vice President
