Fairfax Announces Loss Estimates For Hurricane Katrina.

TORONTO -- (Note: All dollar amounts in this press release are expressed in U.S. dollars.)

Fairfax Financial Holdings Limited (TSX:FFH.SV)(NYSE:FFH) announces that its initial estimate of aggregate potential net losses relating to Hurricane Katrina is in the range of $175 million to $220 million before tax and minority interests, or approximately $108 million to $134 million after tax and minority interests. The estimated hurricane losses are recorded within Fairfax's insurance and reinsurance companies as follows:

Before Tax and             After Tax and
                   Minority Interests         Minority Interests
                   ------------------         ------------------
                                   ($ millions)

OdysseyRe             $ 80 - 100                   $ 42 -  52
Crum & Forster          35 -  40                     23 -  26
Group Re                40 -  50                     35 -  44
Northbridge             20 -  30                      8 -  12
                     -----------                  -----------
                     $ 175 - 220                  $ 108 - 134

These estimates are based on a preliminary review and on an estimated total insured loss from Hurricane Katrina of $30 billion. Fairfax recognizes that at this early stage it is not possible to make a calculation of its financial exposure to claims relating to Hurricane Katrina with a high degree of certainty.

Fairfax Financial Holdings Limited is a financial services holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance, investment management and insurance claims management.

Fairfax Financial Holdings Limited (TSX:FFH.SV) (NYSE:FFH)