Primus Guaranty, Ltd. Reports Third Quarter EPS of $.72

Primus Guaranty, Ltd. PRS today announced its financial results for the third quarter ended September 30, 2010. GAAP net income available to common shares for the third quarter 2010 was $229.0 million, or $5.72 per diluted share, compared with GAAP net income available to common shares of $461.5 million, or $11.14 per diluted share, for the third quarter 2009. Economic Results for the third quarter 2010 were $(2.0) million, or $(0.05) per diluted share, and mainly comprise $14.2 million of premium income, $3.4 million of asset management fees, a $17.5 million termination payment by Primus Financial to Lehman Brothers Special Financing Inc. and $3.9 million of interest income. Economic Results for the third quarter 2009 were $(9.6) million, or $(0.23) per diluted share, and mainly comprise $21.9 million of premium income, $1.3 million of asset management fees, $21.5 million of net realized losses from credit mitigation activities within Primus Financial's portfolio of credit swaps and $1.2 million of interest income.