CATEX announces 200th transaction

CATEX, the Center of Risk Trading, the world's largest Internet based risk trading system with over 1,000 authorized traders in 17 countries, announced its 200th transaction yesterday. A total of nearly $1.4 billion in insured limit has been bound by the two hundred completed deals. CATEX, which is licensed by the New York Insurance Department as a reinsurance intermediary that acts in a neutral capacity, brings pricing transparency to the global reinsurance industry by maintaining a 24 hour a day "post and browse" board where subscribers can find anonymously placed offerings for coverage. A total of $38.5 million in premium supported the $1.4 billion in covered limit that was posted by CATEX. The strike prices for each of the transactions are available to CATEX subscribers on the system 24 hours a day. Nearly $500 million in limit was bound by CATEX subscribing member markets. Total CATEX posting activity exceeds 900 offerings to date and the system sees over 8,000 page hits daily on its Internet site. Aerospace and traditional property & casualty business are the two largest market types of business posted by CATEX. CATEX Chief Executive Officer Frank Fortunato said that "we are pleased that our subscribers are taking advantage of this period of great capacity in the market to learn how to better use the system and transfer risk in the open marketplace". CATEX has over 90 subscribers with offices in Princeton, New York, London and Bermuda. The company is the only impartial, global, Internet based trading system for the reinsurance and risk bearing industry and may be accessed at http://www.catex.com. Contact Frank Fortunato at 609-683-0888 or Heather Phillips at 212-837-7812. ots Original Text Service: CATEX Internet: http://www.newsaktuell.de Contact: Frank Fortunato, 609-683-0888, or Heather Phillips, 212-837-7812, both of CATEX Web site: http://www.catex.com

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