Ironbridge

25th May, 2005

Leading specialist underwriting agency Dexta Corporation Ltd has signed a multi-year agreement with Axis Specialty Europe Ltd, part of Axis Capital Holdings Limited.

Under the agreement starting 1st July 2005, Dexta will be Axis's underwriting agent in Australia and New Zealand for its Professional & Financial Risks and Information Technology insurance products.

Axis Capital provides specialty insurance and reinsurance on a global basis headquartered in Bermuda with offices in the United States, the United Kingdom, Ireland, Switzerland and Singapore. Axis is listed on the New York Stock Exchange.

Axis Capital's gross written premium for the year to December 31, 2004, was in excess of US$3 billion with assets in excess of US$9 billion and shareholders equity of US$3.2 billion.

Axis is rated "A" (Excellent) by AM Best and "A" (Strong) by Standard & Poor's.

Bob Lee, Dexta's chief executive officer, said: "We're delighted to be partnering with Axis, as they are a financially strong and growing company willing to support us as we continue our strategy of expanding our speciality product range."

Mr Lee said, "Axis Capital has substantial unencumbered capital with highly experienced teams in both management and underwriting and a reputation for high quality service".

"There will be no changes to Dexta’s management and underwriting teams nor to policy wordings and claim services, Dexta will continue to provide the exceptional service in underwriting and claims management for which it has built a strong reputation among insurance brokers".

FOR FURTHER INFORMATION, PLEASE CONTACT:

David Pearce, Marketing Manager, Dexta Corporation Ltd, phone (02) 8235 1024