Senior Vice Presidents Announced by Everest

Everest Reinsurance Holdings, Inc. (NYSE: RE) has announced that Larry A. Frakes, Mark de Saram and David A. Schmitt have all been promoted to Senior Vice Presidents of the Company and its subsidiary, the Everest Reinsurance company.

Frakes, who has been with the company since 1996, manages the company's direct reinsurance unit and is also President of the Company's insurance subsidiaries, Everest National Insurance Company and Everest Indemnity Insurance Company.

de Saram, based in London, has been with the Company since 1994 and heads the Company's European operations.

Schmitt, based in Liberty Corner, has been with the company since 1988 and manages the company's International-USA unit, which underwrites reinsurance in Latin America, the Middle East and Africa. He also manages the foreign exposures of US-based ceding companies for the company.

Everest Reinsurance Holdings, Inc. provides insurance and reinsurance to property and casualty insurers both domestically and internationally through its subsidiaries; the Everest Reinsurance Company; the Everest National Insurance Company, the Everest Indemnity Insurance Company; and the Everest Insurance Company of Canada.