PXRE Group Schedules Third Quarter 2006 Earnings Announcement and Conference Call

HAMILTON, Bermuda, Oct. 26  /PRNewswire-FirstCall/ -- PXRE Group Ltd. (NYSE:PXT), a provider of reinsurance products and services to a worldwide marketplace, will release its 2006 third quarter financial results after the market close on Wednesday, November 8, 2006. The Company will hold a conference call to discuss its 2006 third quarter financial results on Thursday, November 9, 2006, at 10:00 a.m. ET.

PXRE will host a live webcast of the conference call, available online at http://www.pxre.com/.  Participants inside the U.S. and Canada can also access the call by dialing [phone].  International participants should dial [phone].

Following the conclusion of the presentation, the webcast will remain available online through December 9, 2006, at http://www.pxre.com/. In addition, a replay of the call will be available from November 9, 2006 - November 16, 2006 by dialing [phone].  Callers dialing from outside the U.S. and Canada can access the call by dialing [phone]. Please enter 1092468 as the conference ID.

About PXRE Group

PXRE -- with operations in Bermuda, Europe and the United States -- provides reinsurance products and services to a worldwide marketplace. The Company's primary focus is providing property catastrophe reinsurance and retrocessional coverage. The Company also provides marine, aviation and aerospace products and services. The Company's common shares trade on the New York Stock Exchange under the symbol "PXT."

To request other printed investor material from PXRE or additional copies of this news release, please contact Jamie Tully or Lesley Bogdanow at Citigate Sard Verbinnen, [phone] or visit http://www.pxre.com/. 

DATASOURCE: PXRE Group Ltd.



CONTACT:  Robert P. Myron, Chief Financial Officer of PXRE Group Ltd.

[phone]; or Investors, Jamie Tully or Lesley Bogdanow, both of

Citigate Sard Verbinnen, [phone], for PXRE Group Ltd.



Web site:  http://www.pxre.com/ 

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