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<page> Addendum No. 3 to the Pxre Group Amended and Restated Agreement Concerning Filing of Consolidated Federal Income Tax Returns Between Pxre Corporation ("Pxre") and Transnational Reinsurance Company ("Transnational") Whereas, Transnational Is a Wholly-Owned Subsidiary of Pxre Reinsurance Company ("Reinsurance"), and Reinsurance Is a Wholly-Owned Subsidiary of Pxre; and Whereas, Transnational Is, Therefore, a Member of the Pxre Affiliated Group of Corporations Filing Consolidated Federal Income Tax Returns (The "Pxre Group") and Has, by This Addendum No. 3 Dated as of December 11, 1996 Become a Participant in the Amended and Restated Agreement Dated as of August 23, 1993 Between Pxre and Reinsurance Establishing the Terms Pursuant to Which the Pxre Group Files Its Consolidated Federal Income Tax Returns, and Now, Therefore, It Is Hereby Agreed That Transnational Shall Be a Participant in the Pxre Group Amended and Restated Agreement Concerning Filing of Consolidated Federal Income Tax Returns Dated as of August 23, 1993 to Which This Addendum Is Annexed. Pxre Corporation By: /S/ Gerald L. Radke Name: Gerald L. Radke Title: Chairman of the Board, President and Chief Executive Officer Transnational Reinsurance Company By: /S/ Gerald L. Radke Name: Gerald L. Radke Title: Chairman of the Board, President and Chief Executive Officer <page>
