Mr. John Varnell reports

FAIRFAX COMPLETES US$400 MILLION SENIOR NOTES OFFERING

Fairfax Financial Holdings Ltd. has completed its previously announced offering of $400-million (U.S.) in aggregate principal amount of 6.000 per cent senior notes due 2033. In connection with the closing of the offering, Fairfax Financial entered into a customary registration rights agreement.

Fairfax Financial intends to use substantially all of the net proceeds of this offering to repay outstanding indebtedness of Fairfax Financial or its subsidiaries with coming maturities and use the rest for general corporate purposes.

Fairfax Financial is a holding company which, through its subsidiaries, is primarily engaged in property and casualty insurance and reinsurance and the associated investment management.

We seek Safe Harbor.