33DV Bank Mont. 60

        
 As Agent Bank, please be advised of the following rate determined            on: 11-Dec-2008
 Issue                             � Catlin Underwriting Plc - WELL 9.8
                                   USD 9,800,000.00 Subordinated FRN Due 2036
 ISIN Number                       � GB00B1CLYB64
 Common Code / 144A ISIN           � IPA
 Issue Nomin USD                   � 9,800,000.00
 Period                            � 15-Dec-2008 to 16-Mar-2009              Payment Date 16-Mar-2009
 Number of Days                    � 91
 Rate                              � 4.99625
 Denomination USD                  � 100,000.00            �                                    �
                                                                                                     
 Amount Payable per Denomination   � 1,262.94              �                                    �
                                                                                                     
 Bank of New York
 Rate Fix Desk                                             Telephone         � 44 1202 689580
 Corporate Trust Services                                  Facsimile         � 44 1202 689601
    
    

Bank Mont. 60 (LSE:33DV)
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