Transatlantic Files Supplemental Material

Transatlantic Holdings, Inc. TRH today announced that it has filed supplemental material with the U.S. Securities and Exchange Commission regarding Transatlantic's merger agreement with Allied World Assurance Company Holdings, AG AWH entered into on June 12, 2011, as well as the proposal set forth in the letter received from Validus Holdings, Ltd. VR on July 12, 2011 to acquire all of the outstanding shares of Transatlantic common stock. The supplemental material is available on the SEC's website at www.sec.gov and on Transatlantic's website at www.transre.com by clicking on the “Investor Information” tab and selecting “Presentations.” As previously announced on July 19, 2011, Transatlantic's Board of Directors, after consultation with its independent financial and legal advisors, determined that the Validus proposal does not constitute a “Superior Proposal” under the Allied World Merger Agreement. The Transatlantic Board reaffirms its recommendation of, and its declaration of advisability with respect to, the Allied World Merger Agreement. The Board also determined that the Validus proposal is reasonably likely to lead to a Superior Proposal and that the failure to enter into discussions regarding the Validus proposal would result in a breach of its fiduciary duties under applicable law. As a result, the Board determined to offer to engage in discussions and exchange information with Validus. While the Board determined that the Validus proposal is reasonably likely to lead to a Superior Proposal, there can be no assurance that the Validus proposal will result in a Superior Proposal or that any transaction with Validus will result from the Validus proposal or Transatlantic's discussions with Validus.