2008-05-09 23:03:08 -

- RAM Holdings Ltd. (NASDAQ:RAMR) (RAM) announced today its expectation to file a Form 12b-25 with the U.S. Securities and Exchange Commission. This filing will extend the due date for the Quarterly Report on Form 10-Q for the quarter ended March 31, 2008 (the "Form 10-Q") until May 19, 2008, and RAM expects to file the Form 10-Q by such

date.

RAM has not yet received information from certain of its ceding companies with respect to the change in fair value of credit default swaps ceded to RAM. As previously disclosed, RAM estimates the change in fair value of credit default swaps in its insured portfolio based on valuation information reported to it by its ceding companies.

Forward-Looking Statements

This release contains statements that may be considered "forward-looking statements." These statements are based on current expectations, beliefs and currently available information. A number of risks and uncertainties, including longer than expected delays in receiving information from our ceding companies, the timing of completion of our estimate of change in fair value of credit derivatives and related disclosure, and the review of our estimate by our auditors, could affect the timing of filing of the Form 10-Q. The Company undertakes no obligation to revise or update any forward-looking statement to reflect changes in conditions, events, or expectations, except as required by law.

RAM Holdings Ltd., Hamilton
Victoria Guest, 441-298-2116
vguest@ramre.bm