ALEA Alea

RNS Number:1693C
Alea Group Holdings(Bermuda) Ltd
20 August 2004

                 Alea Group Estimates Hurricane Charley Impact

LONDON (20 August 2004) - A preliminary estimate of Alea Group Holdings
(Bermuda) Ltd. losses from Hurricane Charley indicates that the event is
unlikely to exceed net $10 million cost. This is within annual loss expectations
for the group's limited property catastrophe portfolio. Alea Group interim
results for the six months ended 30 June 2004 will be announced on 21 September
2004.

ABOUT ALEA GROUP

Alea is a global reinsurance and specialty insurance company with expertise in a
wide range of property and casualty reinsurance, insurance, alternative risk and
finite risk products and services. Alea maintains a significant presence in
major insurance and reinsurance markets worldwide. Alea is headquartered in
Hamilton, Bermuda and has ongoing operations in the United Kingdom, the United
States, Bermuda, Switzerland, Australia and Jersey. The Company's largest
shareholder is an affiliate of Kohlberg Kravis Roberts & Co. Alea is publicly
traded on the London Stock Exchange under the ticker "ALEA". For more
information on Alea Group, see www.aleagroup.com.

For further information please contact:

Alea                                                             

Amanda Atkins        +41 41 767 0402                               
Gabriela Stadler     +44 20 7621 3383                                             
                                                                          
Financial Dynamics
Robert Bailhache     +44 20 7269 7200
Charles Armitstead

Certain statements in this announcement are or may constitute forward-looking
statements. Because such statements are inherently subject to risks and
uncertainties, actual results may differ significantly from those expressed or
implied by such forward-looking statements. We caution you not to place undue
reliance on such forward-looking statements. We do not undertake any obligation
(except reporting obligations imposed on us in relation to our listing on the
London Stock Exchange) to update such forward-looking statements to reflect
events or circumstances occurring after the date hereof.




                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
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