Jerzy Pawlowski Joins Primus

Primus Guaranty, Ltd. (NYSE: PRS), announced today that Jerzy Pawlowski has joined the company as a senior portfolio manager and head of credit correlation trading. Mr. Pawlowski’s primary responsibility will be as co-portfolio manager and risk manager for the firm’s Harrier Credit Strategies Fund, which commenced operation in 2006 and was funded with capital from Primus Guaranty. Mr. Pawlowski will co-manage the fund with Don Young, who joined Primus in 2006 and serves as senior portfolio manager and head trader, with responsibility for managing the firm’s leveraged loan and high-yield bond investment products and vehicles. Mr. Pawlowski, who reports to Charles McLendon, President of Primus Asset Management, previously held positions at leading alternative investment firms and dealer institutions in both correlation trading and structured credit products. "Jerzy’s experience in trading and risk management of structured credit products strongly complements our established credit expertise,” said Mr. McLendon. During his career, Mr. Pawlowski also worked at a leading consulting firm to help develop Primus Financial Products, the company’s triple A rated credit derivatives product company. "I’ve known Jerzy since our company’s earliest days and I’m delighted to welcome him to our team,” said Thomas Jasper, Chief Executive Officer, Primus Guaranty. About Primus Guaranty Primus Guaranty, Ltd. is a Bermuda company, with its principal operating subsidiaries, Primus Financial Products, LLC, and Primus Asset Management, Inc., headquartered in New York City. Primus Financial Products offers protection against the risk of default on corporate, sovereign and asset-backed security obligations through the sale of credit swaps to dealers and banks. As a swap counterparty, Primus Financial Products is rated Aaa by Moody's Investor Service, Inc. and AAA by Standard & Poor's Rating Services. Primus Asset Management provides credit portfolio management services to Primus Financial Products, manages a collateralized loan obligation and three synthetic collateralized debt obligations for third parties, and manages Harrier Credit Strategies Fund.