Lerach Coughlin Stoia Geller Rudman & Robbins LLP ("Lerach Coughlin") (http://www.lerachlaw.com/cases/axiscapital/) reminds investors there are only 26 days left to move for lead plaintiff status in a class action suit filed in the United States District Court for the Southern District of New York on behalf of purchasers of AXIS Capital Holdings Ltd. ("AXIS") (NYSE:AXS) publicly traded securities during the period between August 6, 2003 and October 14, 2004 (the "Class Period").

The complaint charges AXIS and certain of its officers and directors with violations of the Securities Exchange Act of 1934. AXIS is a holding company that through its subsidiaries provides a range of insurance and reinsurance products on a world-wide basis.

The complaint alleges that during the Class Period, defendants disseminated materially false and misleading statements concerning the Company's results and operations. The true facts, which were known by each of the defendants but concealed from the investing public during the Class Period, were as follows: (a) that the Company was paying illegal and concealed "contingent commissions" pursuant to illegal "contingent commission agreements;" (b) that by concealing these "contingent commissions" and such "contingent commission agreements," the defendants violated applicable principles of fiduciary law, subjecting the Company to enormous fines and penalties totaling potentially tens, if not hundreds, of millions of dollars; and (c) that as a result, the Company's prior reported revenue and income was grossly overstated.

On October 14, 2004, New York Attorney General Elliot Spitzer announced that he had charged several of the nation's largest insurance companies and the largest broker with bid rigging and pay-offs that he claimed violated fraud and competition laws. On these revelations, the Company's shares fell to $23.36 from $25.89 per share, a drop of 10%.

If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from October 28, 2004. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, William Lerach or Darren Robbins of Lerach Coughlin at 800/449-4900 or via e-mail at wsl@lerachlaw.com. If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at http://www.lerachlaw.com/cases/axiscapital/. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

Plaintiff seeks to recover damages on behalf of all purchasers of AXIS publicly traded securities during the Class Period (the "Class"). The plaintiff is represented by Lerach Coughlin, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.

Lerach Coughlin, a 140-lawyer firm with offices in San Diego, San Francisco, Los Angeles, New York, Boca Raton, Washington, D.C., Houston, Philadelphia and Seattle, is active in major litigations pending in federal and state courts throughout the United States and has taken a leading role in many important actions on behalf of defrauded investors, consumers, and companies, as well as victims of human rights violations. Lerach Coughlin lawyers have been responsible for more than $20 billion in aggregate recoveries. The Lerach Coughlin Web site (http://www.lerachlaw.com) has more information about the firm.