2008-07-18 19:10:07 -

www.flagstonere.bm - Flagstone Reinsurance Holdings Limited (NYSE:FSR) announced today that its Board of Directors has declared a quarterly dividend of $ 0.04 per Common Share. The dividend is payable on August 15, 2008 to shareholders of record at the close of business on July 31, 2008.

About Flagstone Reinsurance Holdings Limited

Flagstone Reinsurance Holdings Limited,

through its operating subsidiaries, is a global reinsurance and insurance company that employs a focused, technical approach to the Property, Property Catastrophe, and Specialty reinsurance and insurance businesses. Flagstone Re and Flagstone Reassurance Suisse have received "A-" financial strength ratings from both A.M. Best and Fitch Ratings, and "A3" ratings from Moody's Investors Service.

Flagstone Reinsurance Holdings Limited is traded on the New York Stock Exchange under the symbol "FSR" and the Bermuda Stock Exchange under the symbol "FSR BH". Additional financial information and items of interest are available at the Company's website located at www.flagstonere.bm

Flagstone Reinsurance Holdings Limited, Hamilton
Brenton Slade, 441-278-4303