Exhibit 99.1

[LOGO] Endurance

                                           Contact
                                           Massa B. Cressall, Investor Relations
                                           Phone: (441) 278-0988
                                           Email: mcressall@endurance.bm

Endurance specialty REPORTS Hurricane Charley Loss Estimates

PEMBROKE, Bermuda - August 20, 2004 - Endurance Specialty Holdings Ltd.
(NYSE:ENH), today reported that as a result of potential claims from Hurricane
Charley, third quarter earnings, after-taxes, would be negatively impacted by an
estimated amount ranging between $43 and $48 million.

Endurance Chairman and CEO Kenneth LeStrange stated "Endurance's Hurricane
Charley loss estimate was derived from various sources of information including
our proprietary modeling technology, standard industry models, and assessments
of exposure obtained from our clients at the contract level. Our portfolio of
risk exposures has performed as expected in an event of this type. Barring any
additional catastrophic or unforeseen events, the Company expects to meet or
exceed its return on equity goal of 15.5% - 17.5% during 2004."

About Endurance Specialty Holdings

Endurance Specialty Holdings Ltd. is a global provider of property and casualty
insurance and reinsurance. Through its operating subsidiaries, Endurance
currently writes property per risk treaty reinsurance, property catastrophe
reinsurance, casualty treaty reinsurance, property individual risks, casualty
individual risks, and other specialty lines. Endurance's operating subsidiaries
have been assigned a group rating of A (Excellent) from A.M. Best, A2 by Moody's
and A- from Standard & Poor's. Endurance's headquarters are located at Wellesley
House, 90 Pitts Bay Road, Pembroke HM 08, Bermuda and its mailing address is
Endurance Specialty Holdings Ltd., Suite No. 784, No. 48 Par-la-Ville Road,
Hamilton HM 11, Bermuda. For more information about Endurance, please visit
http://www.endurance.bm.

Safe Harbor for Forward-Looking Statements

Some of the statements in this press release may include forward-looking
statements which reflect our current views with respect to future events and
financial performance. Such statements may include forward-looking statements
both with respect to us in general and the insurance and reinsurance sectors
specifically, both as to underwriting and investment matters. Statements which
include the words "expect," "intend," "plan," "believe," "project,"
"anticipate," "seek," "will," and similar statements of a future or
forward-looking nature identify forward-looking statements in this press release
for purposes of the U.S. federal securities laws or otherwise. We intend these
forward-looking statements to be covered by the safe harbor provisions for
forward-looking statements in the Private Securities Litigation Reform Act of
1995.

All forward-looking statements address matters that involve risks and
uncertainties. Accordingly, there are or may be important factors that could
cause actual results to differ from those indicated in the forward-looking
statements. These factors include, but are not limited to, competition, possible
terrorism or the outbreak of war, the frequency or severity of unpredictable
catastrophic events, changes in demand for insurance or reinsurance, rating
agency actions, uncertainties in our reserving process, a change in our tax
status, acceptance of our products, the availability of reinsurance or
retrocessional coverage, retention of key personnel, political conditions,
changes in accounting policies, changes in general economic conditions and other
factors described in our Annual Report on Form 10-K for the year ended December
31, 2003.

Forward-looking statements speak only as of the date on which they are made, and
we undertake no obligation publicly to update or revise any forward-looking
statement, whether as a result of new information, future developments or
otherwise.

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