Everest Re Group, Ltd. (NYSE: RE) announced that its Board of Directors declared a dividend of $0.48 per share payable on or before September 15, 2008 to all shareholders of record on August 25, 2008.

Everest Re Group, Ltd. is a Bermuda holding company that operates through the following subsidiaries: Everest Reinsurance Company provides reinsurance to property and casualty insurers in both the U.S. and international markets. Everest Reinsurance (Bermuda), Ltd., including through its branch in the United Kingdom, provides reinsurance and insurance to worldwide property and casualty markets and reinsurance to life insurers. Everest National Insurance Company and Everest Security Insurance Company provide property and casualty insurance to policyholders in the U.S. Everest Indemnity Insurance Company offers excess and surplus lines insurance in the U.S. Additional information on Everest Re Group companies can be found at the Group’s web site at www.everestre.com.

Everest Global Services, Inc.
Elizabeth B. Farrell
Vice President, Investor Relations
908-604-3169