Director/PDMR Shareholding

CATCo Reinsurance Opportunities Fund Ltd (the "Company")

Director Share Transaction

The Company was notified today that Mr. Alastair Barbour, non-executive director of the Company, has today purchased 38,737 Ordinary Shares of $0.001 in the Company (representing 0.014% of the Company's ordinary issued share capital) at a price of $1.1475 per share. Following this transaction, Mr. Barbour's total interest in the ordinary issued share capital of the Company is 129,999 Ordinary Shares (representing 0.048% of the Company's ordinary issued share capital).

The ISIN for the Ordinary Shares in the Company is BMG1961Q2095.

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For further information, please contact:

Judith Wynne,

Company Secretary and General Counsel

CATCo Investment Management Ltd

Telephone: +44 7986 205364

Email: judith.wynne@catcoim.com

Mark Way

Corporate Communications Director

CATCo Investment Management Ltd

Telephone: +44 7786 116991

Email: mark.way@catcoim.com