Issue of Equity

CATCo Reinsurance Opportunities Fund Ltd.

Issue of Equity

CATCo Reinsurance Opportunities Fund Ltd. (the "Company"), is pleased to announce that in order to satisfy continued investor demand, 3,400,000 new C shares have been issued, at an issue price of $1.00, raising a further US$3.4 million (before costs and expenses).

Admission of the additional C Shares is scheduled for 21 December 2015 and an application will be made to the London Stock Exchange for C Shares to be admitted to trading on the Specialist Fund Market. A prospectus in relation to the Issue is available on CATCo Investment Management Ltd.'s website: www.catcoim.com.

As a result of this further placing, the Company's issued share capital will consist of 91,835,018 C shares and 273,224,673 ordinary shares. 

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

Fund Operations and Investor Relations Director

CATCo Investment Management Ltd

Telephone: +44 7786 116991

Email: mark.way@catcoim.com

David Benda / Hugh Jonathan

Numis Securities Limited

Telephone: +44 (0) 20 7260 1000

- ends -