Scottish Re Announces Samir Shah as Chief Risk Officer

Scottish Re Group Limited (NYSE:SCT), a global life reinsurance specialist, today announced the appointment of Samir Shah as Executive Vice President and Chief Risk Officer, effective December 26, 2007. Samir will be based at the company’s Hamilton, Bermuda headquarters. Samir Shah, 44, has over twenty years of experience in risk and capital management and has done extensive work developing and implementing Enterprise Risk Management (ERM) concepts, methods and tools. Most recently, Samir was a Principal with Towers Perrin where he was a leader in the firm’s global Enterprise Risk Management practice which helped insurance companies, banks and non-financial institutions manage enterprise-wide risks. Prior to his ten-year tenure at Tower Perrin, Samir held various management consulting roles focused in areas such as non-traditional actuarial risk management, operational efficiency and financial performance improvement. Samir is a Fellow of the Society of Actuaries (FSA), a Financial Risk Manager (FRM) certified by the Global Association of Risk Professionals and a Professional Risk Manager (PRM) certified by the Professional Risk Managers International Association. He holds a B.S. and an M.S. in Industrial Engineering, specializing in Operations Research and Management Science, from Northwestern University. In the newly created role of Chief Risk Officer, Samir is charged with developing and implementing a risk management strategy and operating framework designed to significantly improve risk management disciplines across the company. George Zippel, President and Chief Executive Officer of Scottish Re Group Limited, commented, "Creating the Chief Risk Officer leadership position and continuing to enhance a robust ERM process are key elements of our plan to improve the operating and financial performance of Scottish Re. I’m very pleased that we were able to attract a strong and experienced risk management professional to our company. I look forward to working closely with Samir as he builds out his team and drives improved risk management performance across Scottish Re.” About Scottish Re Scottish Re Group Limited is a global life reinsurance specialist. Scottish Re has operating businesses in Bermuda, Grand Cayman, Guernsey, Ireland, Singapore, the United Kingdom and the United States. Its flagship operating subsidiaries include Scottish Annuity & Life Insurance Company (Cayman) Ltd., Scottish Re (U.S.), Inc., and Scottish Re Limited. Additional information about the Company can be obtained at www.scottishre.com.