Conversion of Securities

CATCo Reinsurance Opportunities Fund Ltd. (the "Company")

C Share Conversion Ratio and Admission of New Ordinary Shares

Further to the announcement made on 10 August 2012 regarding the C Share Conversion ratio and Admission of New Ordinary Shares, application has also been made to list the new Ordinary Shares on the Bermuda Stock Exchange.

Furthermore, the C Shares will also be permanently removed from trading on the Bermuda Stock Exchange with effect from the opening of trading at 9.00am on 13 August 2012.

-Ends-

For further information, please contact:

Jason Bibb, Director/Michael Toyer, Head of Investment Operations

CATCo Investment Management Ltd

Telephone: +1 441 531 2227

Email: jason.bibb@catcoim.com 

Email: Michael.toyer@catcoim.com

David Benda / Hugh Jonathan

Numis Securities Limited

Telephone: +44 (0)20 7260 1000