Max Specialty Insurance Company Adds California, is Now an Eligible Surplus Lines Insurer in 47 States

Business Editors/Insurance Writers

RICHMOND, Va.--(BUSINESS WIRE)--June 23, 2008--Stephen J. Vaccaro, Jr., President and Chief Executive Officer of Max Specialty Insurance Company, an excess and surplus lines company headquartered in Richmond, Virginia, today announced that, with the addition of California, Max Specialty is now an eligible surplus lines insurer in a total of 47 states.

Mr. Vaccaro said: "The addition of California as a state in which Max Specialty may now write surplus lines business is a further step toward our goal of establishing Max Specialty as a leading U.S.-based excess and surplus lines company."

Max Specialty is licensed as an admitted insurer in Delaware and is a subsidiary of Max Capital Group Ltd.

Max Specialty, the excess and surplus lines platform of Max Capital Group Ltd., operates across three divisions: Brokerage, Contract Binding and Marine, offering property, ocean and inland marine, casualty, excess liability and umbrella insurance products.

Max Capital Group Ltd. (NASDAQ: MXGL; BSX: MXGL BH), through its operating subsidiaries, provides specialty insurance and reinsurance products to corporations, public entities, property and casualty insurers and life and health insurers.

This release includes statements about future economic performance, finances, expectations, plans and prospects of Max Capital Group Ltd. that constitute forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those suggested by such statements. For further information regarding cautionary statements and factors affecting future results, please refer to the Max Capital's most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q filed subsequent to the Annual Report, and other documents filed by Max Capital with the SEC. Max Capital undertakes no obligation to update or revise publicly any forward-looking statement whether as a result of new information, future developments or otherwise.