PXRE GROUP LTD. (a Bermuda company) 7,690,000 Common Shares UNDERWRITING AGREEMENTUnderwriting Agreement • October 7th, 2005 • Pxre Group LTD • Title insurance • New York
PXRE Group Ltd., a Bermuda company (the “Company”), confirms its agreement with Credit Suisse First Boston LLC (the “Underwriter”), with respect to the sale by the Company and the purchase by the Underwriter, of 7,690,000 Common Shares, par value $1.00 per share, of the Company (“Common Shares”). The aforesaid 7,690,000 Common Shares to be purchased by the Underwriter are hereinafter called the “Firm Shares”. The Company also confirms its agreement with the Underwriter to sell to the Underwriter not more than an additional 1,153,500 Common Shares (the “Additional Shares” and together with the Firm Shares, the “Securities”) if and to the extent that the Underwriter shall have exercised its right to purchase some or all of the Additional Shares granted to the Underwriter in Section 2(a)(ii) hereof.
