Scottish Re Announces Departure of Chief Financial Officer

HAMILTON, Bermuda--(BUSINESS WIRE)--

Scottish Re Group Limited (NYSE:SCT), a global life reinsurance specialist,
today announced that Dean E. Miller, Executive Vice President and Chief
Financial Officer, will be leaving the company effective May 18, 2007.

"Dean helped guide Scottish Re through a difficult and turbulent period in its
history culminating in the successful completion of the $600 million equity
investment transaction by MassMutual Capital Partners LLC and affiliates of
Cerberus Capital Management, L.P.," said Paul Goldean, Chief Executive Officer
of Scottish Re Group Limited. "With the transaction completed we are well
positioned for the next chapter in the company's business development and I am
grateful to Dean for helping us get to this point. Dean's knowledge of the
global life reinsurance business, coupled with his extensive general management
and operating experience greatly benefited our company during his tenure. On
behalf of the board of directors and the employees of Scottish Re, we thank Dean
for his service and wish him every success in his future endeavors."

Scottish Re intends to announce the appointment of a successor to Mr. Miller
shortly.

About Scottish Re Scottish Re Group Limited is a global life reinsurance
specialist. Scottish Re has operating businesses in Bermuda, Grand Cayman,
Guernsey, Ireland, Singapore, the United Kingdom and the United States. Its
flagship operating subsidiaries include Scottish Annuity & Life Insurance
Company (Cayman) Ltd., Scottish Re (U.S.), Inc., and Scottish Re Limited.
Additional information about Scottish Re Group Limited can be obtained from its
Web site, www.scottishre.com.
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Source: Scottish Re Group Limited

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Contact: Scottish Re Group Limited, Hamilton
Rayissa Palmer, 704-752-3422