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Annuity and Life RE Holdings Ltd.
Hamilton, Bermuda

The company is a recently organized life insurer and provider of annuities.

Primary Underwriting Group
ManagerTierPhone
Prudential Securities IncorporatedLead Manager (212) 778-5420
Merrill Lynch & Co.Co-manager (212) 449-4600

Offering Information
NASNTL:ALREF Financial: SIC 6311
Type of Shares:Common Shares Filing Date:12/24/97
U.S. Shares:17,079,000 Offer Date:4/8/98
Non-U.S. Shares:0 Filing Range:$14.00 - $16.00
Primary Shares:17,079,000 Offer Price:$15.00
Secondary Shares:0 Gross Spread:$0.90
Offering Amount: $256,185,000 Selling:$0.54
Expenses:$0 Reallowance:$0.10
Post-IPO Shares: -

Use of Proceeds
The proceeds from the proposed offering will be used for general corporate purposes.

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