Prize purse set at minimum of $100,000

HAMILTON BERMUDA, May 29, 2008- Argo Group International Holdings, Ltd. (Argo Group), an international underwriter of specialty insurance and reinsurance products in niche areas of the property and casualty market, announced today that it is the new title sponsor for the King Edward VII Gold Cup to be sailed October 7-12, 2008 in Bermuda’s Hamilton Harbour.

The event will be titled the King Edward VII Gold Cup presented by Argo Group for the 2008 Gold Cup matches. The announcement was made at the Royal Bermuda Yacht Club, host and organizing authority for the event.

In making the announcement, Mark E. Watson III, President and Chief Executive Officer of Argo Group said, “Argo Group is proud to announce our sponsorship of the 2008 King Edward VII Gold Cup match race tournament. The Gold Cup and Argo will make a perfect match as we both strive for excellence. The King Edward VII Gold Cup is a firm tradition in Bermuda and attracts the world’s best skippers and crews. We look forward to working in partnership with the Royal Bermuda Yacht Club to make this year’s event one of the best ever.”

Above: Mark E. Watson III (center), President and CEO of Argo Group announces that the new title sponsor for the 2008 King Edward VII Gold Cup is Argo Group, Ltd of Bermuda. He is flanked by Royal Bermuda Yacht Club Commodore Ralph Richardson (left) and Premier of Bermuda and Minister of Tourism and Transport, the Hon. Dr. Ewart F. Brown JP MP (right).

Sharing in the announcement were the Royal Bermuda Yacht Club Commodore Ralph Richardson and Brian Billings, Past Commodore and Chairman of the 2008 Gold Cup. Commodore Richardson thanked Argo for their support and said, “The King Edward VII Gold Cup is a premier event on the World Match Racing Tour. It has always been a highlight for sailors and always attracts the top sailors in the International Sailing Federation’s match race rankings. Mathieu Richard, now ranked number 1 in the world, has already accepted and will defend his 2007 Gold Cup title. So far, the top 3 ISAF match racers in the May 14, 2008 ranking, who were also the top 3 on the World Tour in 2007, have accepted invitations for the 2008 King Edward VII Gold Cup presented by Argo Group. Six who have accepted are in the top 10 of the ISAF rankings. We expect top level competition again in this classic match racing event.”

Dr. the Hon. Ewart F. Brown, Premier of Bermuda and Minister of Tourism & Transport, complimented Argo Group on its new title sponsorship of the Gold Cup.

“I am thrilled the Gold Cup franchise continues to be a very strong and popular event. The Bermuda Department of Tourism, and indeed the entire Government, strongly supports this truly international affair.

“It is especially encouraging to learn this year’s Gold Cup will reach out to families with the Festival of Sail. I expect this will be a positive addition for visitors and residents alike, providing the catalyst for this storied race to last for many years to come.

“Argo Group, the new title sponsor, and all the other Bermuda-based organizers and sponsors, have prepared a stellar visitor experience that will showcase Bermuda magnificently once again.”

In addition to the new title sponsor, the Royal Bermuda Yacht Club announced that the Bermuda Department of Tourism continues as the Host Sponsor, the Max Capital Group is Associate Presenting Sponsor, and Renaissance Reinsurance, Guy Carpenter & Company, LLC are aboard as presenting sponsors to assure that the minimum prize purse for 2008 will be $100,000. Renaissance Reinsurance is also the sponsor of the Junior Gold Cup competition for 2008.

Stage 8 of the World Match Race Tour

The King Edward VII Gold Cup, now stage 8 of the World Match Race Tour, for the match-racing world championship, is the oldest match-racing competition in the world for one-design yachts. The trophy presented to the winning team was originally given at the Tri-Centenary Regatta at Jamestown, Virginia, in 1907 by King Edward VII in commemoration of the 300th Anniversary of the first permanent settlement in America. C. Sherman Hoyt, a renowned American sailor, won the regatta and was presented with this now historic cup.

Through the years Bermuda has won the Cup 21 times, the United States 17 times, New Zealand 10 times, Australia 5 times, the United Kingdom 3 times, and in 2002 Denmark claimed the King Edward VII Gold Cup for the first time. The 2006 winner was Ian Williams (UK) who defeated a fleet including the 2005 winner, Luna Rosa Skipper James Spithill, who in that year had shut out Russell Coutts’ incredible string of wins. Mathieu Richard of France became the third consecutive first-time winner of the King Edward VII Gold Cup in 2007.

The King Edward VII Gold Cup is the 8th out of 9 events on the 2008 World Match Race Tour’s World Championship schedule. It is sailed in Hamilton Harbour adjacent to the Royal Bermuda Yacht Club. The venue brings world-class match racing close to shore where spectators can easily see the competition.

The 24 invited crews including two winners of qualifying events will be divided into three groups of 8 to sail a round robin elimination series Tuesday, Wednesday and Thursday. The leading 8 skippers go on to the Quarter and Semi Finals, to be sailed on Friday and Saturday respectively.

The Finals take place on Sunday with the top two teams in a ‘first to three points’ head to head battle and the losing semi finalists in a ‘first to two points’ Petite Final. Between the second and third races, the course is taken over for the final race of the Renaissance Re Junior Gold Cup, which will have been underway simultaneously since Thursday in the Great Sound.

The King Edward VII Gold Cup is a founding member of the World Match Racing Tour. The tour is a series of 9 events, which has extensive television coverage and worldwide promotion. The one-hour television broadcast of the 2007 event appeared in November on Eurosport, ESPN, Versus Network, the Sky network and other regional broadcasters. This network reaches more than 500 million homes in 90 countries. An exciting summary video of all the tour events can be viewed at www.worldmatchracingtour.com

About Argo Group: www.argolimited.com
Headquartered in Bermuda, Argo Group International Holdings, Ltd. (NasdaqGS: AGII) is an international underwriter of specialty insurance and reinsurance products in the property and casualty market. Argo Group offers a full line of high-quality products and services designed to meet the unique coverage and claims handling needs of businesses in four primary segments: Excess and Surplus Lines, Commercial Specialty, International Specialty and London. Information on Argo Group and its subsidiaries is available at www.argolimited.com.

About The Royal Bermuda Yacht Club: www.rbyc.bm
The Royal Bermuda Yacht Club is a private Club and is the third oldest club holding a Royal Warrant outside the British Isles. The Royal Bermuda Yacht Club was established on the 1st of November 1844 by a party of thirty gentlemen, consisting largely of officers in the British Army. There are now approximately 850 resident and non-resident members.

About the World Match Racing Tour: www.worldmatchracingtour.com

• The World Match Racing Tour is the leading professional sailing series featuring 9 World Championship events across the globe.
• The World Tour is sanctioned by the International Sailing Federation (ISAF) with “Special Event” status.
• The World Tour awards over US$1million in prize money.
• Points are awarded at each event culminating in the crowning of the season ending ‘ISAF Match Racing World Champion.’
• Events utilize the same “match race” format used in the America’s Cup with racing taking place in identically supplied racing yachts which places a focus on teamwork and skill.
• Racing takes place close to the shore for the general public to follow the races as virtual on-the-water stadiums.
• Media and television highlights coverage reaches over 500 million households in excess of 90 countries around the world.
• World Match Racing Tour sponsors include Line 7, Pindar, Custom House, Travel Places, Wedgwood and Sail.TV.

For information on the World Match Racing Tour:
Yvonne Reid Force 10 Marketing
Tel: +44 (0) 1590 679613 Mob: +44 (0) 7809 149268
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Website: www.worldmatchracingtour.com

For King Edward VII Gold Cup Media Contact:
Talbot Wilson, Talbot Wilson & Associates, Inc.
Tel: +1 (850)432-8170 Fax: +1 (850)432-8050 Mob: +1 (850)217-7138
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Royal Bermuda Yacht Club
email: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
Tel: (441) 295 2214 Ex 105
Fax:(441) 295 6361