Cambridge Antibody Technology : Net Asset Value

Net Asset Value

Reinsurance Opportunities Fund Ltd.

CATCo Reinsurance Opportunities Fund Ltd. ("the Company")

Net Asset Value

To: SFM, London Stock Exchange and Bermuda Stock Exchange

Date: 16 December 2015

Markel CATCo Investment Management Ltd, as Company Secretary, announces the unaudited net asset value of the Company's Ordinary Shares and C Shares of $1.2917 and $0.9800 respectively, as at the close of business on 30 November 2015.

For further information, please contact:

Judith Wynne,

Company Secretary and General Counsel CATCo Investment Management Ltd Telephone: [phone]

Email: [e-mail]

Mark Way

Fund Operations and Investor Relations Director CATCo Investment Management Ltd Telephone: [phone]

Email: [e-mail]

David Benda / Hugh Jonathan Numis Securities Limited Telephone: [phone]

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