Fairfax Announces Successful Completion of Offer for Polish Reinsurer

• Press Release
• Source: Fairfax Financial Holdings Limited
• On 5:02 pm EST, Wednesday January 7, 2009

TORONTO, ONTARIO--(MARKET WIRE)--Jan 7, 2009 -- Fairfax Financial Holdings Limited (Toronto:FFH.TO - News)(NYSE:FFH - News) announces that all regulatory and other conditions to its public tender offer to acquire all of the outstanding shares of Polskie Towarzystwo Reasekuracji Spolka Akcyjna ("PTR") at a price of 1.60 Polish zlotys per share were met today. As a result, the offer has been successfully completed, with shareholders holding 100% of the outstanding shares of PTR tendering to the offer. Fairfax will be taking up and paying for the tendered shares promptly. Any questions on the payment process should be directed to Fairfax's financial advisor, ING Securities S.A.

Fairfax Financial Holdings Limited is a financial services holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and investment management.

     Contacts:
     Fairfax Financial Holdings Limited
     Greg Taylor
     Chief Financial Officer
     (416) 367-4941
      
     Media Contact: Fairfax Financial Holdings Limited
     Paul Rivett
     Chief Legal Officer
     (416) 367-4941
     (416) 367-4946 (FAX)