The press release filed on a Current Report on Form 8-K by Platinum Underwriters Holdings, Ltd. (the "Company") on October 21, 2009 reporting its financial results as of and for the quarter ended September 30, 2009 and the related financial supplement contained an immaterial error in the line items of reinsurance premiums receivable under "Assets" and commissions payable under "Liabilities" in the Company's condensed consolidated balance sheet as of September 30, 2009. The following table shows the corrected amounts as of September 30, 2009 (in thousands):

                                                                                             Corrected
                                                      Reported Amount       Adjustment         Amount
Reinsurance premiums receivable                      $         297,089          (24,600 )   $    272,489
Total assets                                                 5,182,222          (24,600 )      5,157,622
Commissions payable                                            117,613          (24,600 )         93,013
Total liabilities                                    $       3,012,157          (24,600 )   $  2,987,557

The adjustments are offsetting entries on the condensed consolidated balance sheet and do not affect shareholders' equity or book value per share as of September 30, 2009 or the condensed consolidated statement of operations and comprehensive income for the quarter ended September 30, 2009. The Company does not intend to issue a revised press release to reflect the corrected amounts set forth above. The corrected amounts are reflected in the Company's quarterly report on Form 10-Q for the quarter ended September 30, 2009.