Munich Re America Corporation Announces Expiration of Tender Offer and Consent Solicitation for Its 7.45% Senior Notes Due 2026

PRINCETON, N.J., Aug. 18 /PRNewswire/ -- Munich Re America Corporation, a Delaware corporation (the "Company"), which was formerly known as American Re Corporation, today announced the expiration of its previously announced cash tender offer (the "Tender Offer") and the related solicitation of consents (the "Consent Solicitation" and together with the Tender Offer, the "Offer") for its outstanding 7.45% Senior Notes due 2026 (CUSIP No. 029163AD4) (the "Notes").

The Offer expired at midnight, New York City time, on August 15, 2008 (the "Expiration Date"). As of the Expiration Date, the Company had received tenders with respect to $78,616,000 in aggregate principal amount of the Notes (approximately 15.72% of the outstanding aggregate principal amount of the Notes) pursuant to the Company's Offer to Purchase and Consent Solicitation Statement dated as of July 21, 2008 (the "Statement"). Accordingly, the Company has not received the Requisite Consents to the proposed amendment to the indenture governing the Notes.

The Company plans to accept for payment all Notes validly tendered and not validly withdrawn prior to the Expiration Date. The Company expects that payment for Notes validly tendered pursuant to the Offer will be made on August 19, 2008.

This announcement is not an offer to purchase, nor a solicitation of an offer to purchase, or a solicitation of tenders or Consents with respect to, any Notes. The Offer was made solely pursuant to the Statement which more fully set forth and governed the terms and conditions of the Offer.

This Announcement includes forward-looking statements. These forward-looking statements include all matters that are not historical facts. Actual events or results may differ materially from those made in, or suggested by, the forward-looking statements contained in this Announcement. The Company assumes no liability to update these forward-looking statements or to conform them to future events or developments.

Deutsche Bank Securities Inc. is acting as sole Dealer Manager and Consent Solicitation Agent for this Tender Offer and Consent Solicitation. Further details on the Offer and a copy of the Statement can be obtained from:

     Dealer Manager and Consent Solicitation Agent:      Deutsche Bank Securities Inc.     Attn: Liability Management Group     US Toll free: 1 866 627 0391     US Tel: 1 212 250 2955     UK Tel: +44 (0) 20 7545 8011     email: [email protected]      Depositary Agent and Information Agent:      Global Bondholder Services Corporation     Attn: Corporate Actions     US Toll Free: (866) 470 3700     Banks and Brokers Call: (212) 430 3774 

SOURCE Munich Re America Corporation

CONTACT: Guy Perinotti for Munich Re America Corporation, +1-609-243-4576