Validus Announces Fourth Quarter Net Operating Income of $50.9 Million and Net Income of $37.0 Million.

Diluted Book Value Per Share of $23.78 at December 31, 2008

HAMILTON, Bermuda -- Validus Holdings, Ltd. ("Validus" or the "Company") (NYSE: VR) today reported net income for the quarter ended December 31, 2008 of $37.0 million, or $0.47 per diluted common share, compared with net income of $139.0 million, or $1.77 per diluted common share, for the quarter ended December 31, 2007. Net income for the year ended December 31, 2008 was $53.1 million, or $0.61 per diluted share, compared with $403.0 million, or $5.95 per diluted common share, for the corresponding period in 2007.

Net operating income for the fourth quarter of 2008 was $50.9 million, or $0.65 per diluted share, compared with net operating income of $131.5 million, or $1.68 per diluted common share, for the quarter ended December 31, 2007. Net operating income for the year ended December 31, 2008 was $175.1 million, or $2.22 per diluted common share, compared with $388.2 million, or $5.73 per diluted common share, for the year ended December 31, 2007. Operating results of Talbot have been included in the consolidated financial...

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