Scottish Re Announces North America Management Change

    HAMILTON, BERMUDA, August 17 /CNW/ - Scottish Re Group Limited
(NYSE:  SCT), a global life reinsurance specialist, announced today the
following management change in its North America life reinsurance segment.

    As announced on May 17, 2007, Cliff Wagner, President and Chief Executive
Officer - North America will leave the company, effective today. Cliff had
served in the role of North America CEO since August of 2006 and helped lead
the Company through the challenges of this past year. Prior to his current
position, Cliff served as Chief Actuary - Scottish Re Group Limited. Best
wishes are extended to Cliff in his future endeavors.

    Effective Monday, August 20, 2007, Paul Goldean will serve as interim
President and Chief Executive Officer - North America while continuing in his
role as Chief Administrative Officer - Scottish Re Group Limited. Paul has
been a key leader within the Company since he joined Scottish Re in 2002. An
external search to identify a permanent North America CEO is currently

    "I am confident that Paul, working with our North America leadership
team, will continue to make progress towards our goals of improving
operational discipline, maintaining competitive market position, and returning
the segment to profitability," stated George Zippel, President and Chief
Executive Officer - Scottish Re Group Limited.

    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,

For further information:

For further information: Scottish Re Rayissa Palmer, Vice President
Marketing & Communications 704-752-3422

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