Scottish Re Posts to Its Web Site Third Quarter 2010 Financial Statements

HAMILTON, Bermuda--(BUSINESS WIRE)-- Scottish Re Group Limited (Pink Sheets: SKRRF) ("Scottish Re" or the "Company"), announced today that it has posted to its web site its consolidated unaudited financial statements for the three and nine month periods ended September 30, 2010. For the three month period ended September 30, 2010, Scottish Re reported net income attributable to ordinary shareholders of $82.4 million, or $0.38 diluted income per ordinary share, as compared to a net income attributable to ordinary shareholders of $201.9 million, or $0.92 diluted income per ordinary share, for the prior-year period.

The net income attributable to ordinary shareholders for the three month periods ended September 30, 2010 and 2009 was primarily driven by $89.0 million and $191.1 million, respectively, of net realized and unrealized gains associated with the Company’s invested assets.

To view the financial statement documents, go to Scottish Re's Web site at www.scottishre.com.

About Scottish Re

Scottish Re Group Limited is a global life reinsurance specialist. Scottish Re has operating businesses in Bermuda, Ireland, and the United States. Its flagship operating subsidiaries include Scottish Annuity & Life Insurance Company (Cayman) Ltd., Scottish Re (Dublin) Limited, and Scottish Re (U.S.), Inc. Additional information about Scottish Re Group Limited can be obtained from its Web site, www.scottishre.com.

Scottish Re Group LimitedDan Roth, Chief Financial Officer, 441-298-4373

Source: Scottish Re Group Limited