RNS Number:0442N
Benfield Group Limited
02 July 2003

Benfield Group Limited

2 July 2003

        Partial Disposal of Investment in Montpelier Re Holdings Limited

In its listing particulars dated 13 June 2003, Benfield Group Limited
("Benfield" or the "Company") stated that it had elected to sell up to the
entire holding of 1,500,000 common shares in Montpelier Re Holdings Limited
("Montpelier"), held by its wholly owned subsidiary Benfield Holdings Limited,
as part of a secondary offering of Montpelier's common shares.

Following completion of this offer, Benfield announces that it has disposed of
947,479 common shares of Montpelier at a price of US$30.50 per common share in
the offer. Benfield's resultant holdings in Montpelier will comprise 552,521
common shares and warrants to acquire a further 2.4 million common shares.

Benfield will receive net proceeds of US$27.7 million from the disposal. The
initial cost to the Company of its total investment in Montpelier (including the
warrants referred to above) was US$25.0 million.

Contacts:

Benfield

Grahame Chilton, Chief Executive                      020 7578 7000

John Whiter, Chief Financial Officer                  020 7578 7000

David Bogg (media)                                    020 7522 4016

Alison Burgess (media)                                020 7578 7047

Julianne Jessup (investors)                           020 7578 7425


Haggie Financial (media)                              020 7417 8989

David Haggie

Peter Rigby


Financial Dynamics (investors)                        020 7831 3113

Robert Bailhache

Alex Child-Villiers

Geoffrey Pelham-Lane


Notes to Editors

Benfield is a leading global reinsurance intermediary and risk advisory
business. Our customers include many of the world's major insurance and
reinsurance companies as well as government entities. Our business philosophy is
founded on working in partnership with our customers to enhance their success.
Benfield employs over 1,600 people based in more than 30 locations worldwide.
www.benfieldgroup.com


                      This information is provided by RNS
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