CPHL Castlepoint Holdings Ltd (MM)

CastlePoint Holdings, Ltd. ("CastlePoint") today announced that the Securities and Exchange Commission on August 6, 2007 declared effective CastlePoint�s shelf registration statement on form S-1 to register 26,646,589 common shares representing the shares issued by CastlePoint at the time of its private offering in April 2006. These shares may be offered for resale from time-to-time by the selling shareholders named in the prospectus included in the registration statement pursuant to the plan of distribution set forth therein. CastlePoint will not receive any of the proceeds from any such resales. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities covered by the registration statement and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. Copies of the final prospectus related to the offering, when available, may be obtained from CastlePoint Holdings, Ltd., Victoria Hall, 11 Victoria Street, Hamilton HM 11, Bermuda, Attn: Corporate Secretary, or by phone at (441) 294-6409. The common shares of CastlePoint trade on the Nasdaq Global Market under the trading symbol "CPHL". About CastlePoint CastlePoint, a Bermuda-based holding company, through its subsidiaries, CastlePoint Reinsurance Company, Ltd., CastlePoint Management Corp. and CastlePoint Insurance Company, provides property and casualty insurance and reinsurance business solutions, products and services to small insurance companies and program underwriting agents in the United States. CPHL-F Cautionary Note Regarding Forward-Looking Statements The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. This press release or any other written or oral statements made by or on behalf of CastlePoint may include forward-looking statements that reflect CastlePoint's current views with respect to future events and financial performance. All statements other than statements of historical fact included in this press release are forward-looking statements. Forward-looking statements can generally be identified by the use of forward-looking terminology such as "may," "will," "plan," "expect," "intend," "estimate," "anticipate," "believe" or "continue" or their negative or variations or similar terminology. All forward-looking statements address matters that involve risks and uncertainties. Accordingly, there are or will be important factors that could cause CastlePoint's actual results to differ materially from those indicated in these statements. The company believes that these factors include but are not limited to ineffectiveness or obsolescence of its business strategy due to changes in current or future market conditions; increased competition on the basis of pricing, capacity, coverage terms or other factors; greater frequency or severity of claims and loss activity, including as a result of natural or man-made catastrophic events, than CastlePoint's underwriting, reserving or investment practices anticipate based on historical experience or industry data; the ability to obtain necessary governmental licenses; the ability to hire and retain executive officers and other key personnel; the ability to make certain acquisitions in a timely fashion necessary to fulfill the company's business plan; the effects of acts of terrorism or war; developments in the world's financial and capital markets that adversely affect the performance of the company's investments; changes in regulations or laws applicable to CastlePoint, its subsidiaries, brokers or customers including tax laws in Bermuda and the United States; acceptance of CastlePoint's products and services, including new products and services; changes in the availability, cost or quality of reinsurance and failure of CastlePoint's reinsurers to pay claims timely or at all; decreased demand for the company's insurance or reinsurance products; the effects of mergers, acquisitions and divestitures; changes in rating agency policies or practices; changes in legal theories of liability under CastlePoint's insurance policies or the policies that it reinsures; changes in accounting policies or practices; and changes in general economic conditions, including inflation and other factors. Forward-looking statements speak only as of the date on which they are made, and CastlePoint undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.