Officers Named to CastlePoint Holdings, Ltd. and Subsidiaries.

HAMILTON, Bermuda -- CastlePoint Holdings, Ltd. (CastlePoint Holdings) today announced the appointment of Gregory T. Doyle as President of CastlePoint Holdings and Chief Executive Officer of CastlePoint Reinsurance Company, Ltd. (CastlePoint Re). Mr. Doyle will also serve as a Director of CastlePoint Re as well as continuing to serve as a Director of CastlePoint Holdings. Michael H. Lee, currently the Chairman, CEO and President of CastlePoint Holdings, will continue as Chairman and CEO upon Mr. Doyle's appointment. CastlePoint Holdings also announced the appointment of Mark Dale as President and Director of CastlePoint Management, Corp. (CastlePoint Management). Mr. Dale's position became effective August 7, 2006, and Mr. Doyle will assume his new appointments on or prior to November 1, 2006.

Mr. Doyle will work with Mr. Lee in the overall strategic planning for the entire company as well as directly managing CastlePoint Re. "We are very pleased to have Greg at CastlePoint. Having worked with him for several years, I believe his experience in the reinsurance industry as well as his leadership and management skills will add significant value to our company," said Michael Lee. Mr. Doyle has been a member of CastlePoint Holdings' board of directors since April 2006. Prior to joining the CastlePoint board, he served on the board of directors of Tower Group, Inc. from September 2004 to April 2006. He has served as the Executive Chairman of the reinsurance brokerage firm, BMS Vision Re, since September 2004. Prior to that, Mr. Doyle was President of Presidential Re Insurance Advisors, a consulting firm he founded. From December 2000 to January 2003, he served as Executive Vice President, Strategic Planning/Corporate Development for Guy Carpenter & Company, a reinsurance brokerage firm. From 1985 to 2000, Mr. Doyle held senior positions at American Re-Insurance Company, ultimately as Corporate Executive Vice President and President of Domestic Insurance Company Operations. He was also a member of American Re-Insurance's Board of Management and directed its largest division. Mr. Doyle is a Chartered Property and Casualty Underwriter and attended the Advanced Executive Education Program at the University of Pennsylvania's Wharton School of Business.

Mr. Dale, as the President of CastlePoint Management, will oversee CastlePoint Management's U.S. primary insurance company operation that provides programs and risk sharing solutions to program underwriting agents and insurance companies. Mr. Lee commented that, "Mark's extensive knowledge, leadership and experience in establishing and successfully managing program business will enable us to continue to develop and expand our programs and risk sharing business." Prior to joining CastlePoint Management, Mr. Dale served from July 2000 to August 2006, as Senior Vice President of Great American Custom, a full-service underwriting organization, where he managed their program division. Mr. Dale also had extensive experience managing primary excess and surplus lines underwriting at Great American Custom. His 27-year career in the property and casualty insurance industry includes underwriting and management positions at Hartford Insurance Company, Economy Fire and Casualty Insurance Company, and Arkwright Mutual Insurance Company.

About CastlePoint Holdings, Ltd.

CastlePoint Holdings, Ltd. is a Bermuda holding company that through its operating subsidiaries provides property and casualty insurance and reinsurance business solutions primarily to insurance companies and program underwriting agents in the United States. CastlePoint Holdings offers these solutions through its subsidiaries, CastlePoint Reinsurance Company, Ltd., a Bermuda-based reinsurance company, and CastlePoint Management, Corp., a U.S.-based underwriting management company that underwrites program business and provides risk sharing solutions.

Cautionary Note Regarding Forward-Looking Statements

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. This release or any other written or oral statements made by or on behalf of the Company may include forward-looking statements that reflect the Company's current views with respect to future events and financial performance. All statements other than statements of historical fact included in this release notice are forward-looking statements. Forward-looking statements can generally be identified by the use of forward-looking terminology such as "may," "will," "plan," "expect," "intend," "estimate," "anticipate," "believe" or "continue" or their negative or variations or similar terminology. All forward-looking statements address matters that involve risks and uncertainties. Accordingly, there are or will be important factors that could cause our actual results to differ materially from those indicated in these statements. We believe that these factors include but are not limited to ineffectiveness or obsolescence of our business strategy due to changes in current or future market conditions; increased competition on the basis of pricing, capacity, coverage terms or other factors; greater frequency or severity of claims and loss activity, including as a result of natural or man-made catastrophic events, than our underwriting, reserving or investment practices anticipate based on historical experience or industry data; the ability to obtain necessary governmental licenses; the ability to hire and retain executive officers and other key personnel; the ability to make certain acquisitions in a timely fashion necessary to fulfill our business plan; the effects of acts of terrorism or war; developments in the world's financial and capital markets that adversely affect the performance of our investments; changes in regulations or laws applicable to us, our subsidiaries, brokers or customers including tax laws in Bermuda and the United States; acceptance of our products and services, including new products and services; changes in the availability, cost or quality of reinsurance and failure of our reinsurers to pay claims timely or at all; decreased demand for our insurance or reinsurance products; the effects of mergers, acquisitions and divestitures; changes in rating agency policies or practices; changes in legal theories of liability under our insurance policies or the policies that we reinsure; changes in accounting policies or practices; and changes in general economic conditions, including inflation and other factors. Forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.