Southpaw Asset Management LP Terminates the Offer to Purchase Series A Preferred Shares of Syncora Holdings Ltd.

GREENWICH, Conn., Oct. 18, 2012 /PRNewswire/ -- Southpaw Asset Management LP on behalf of certain advised funds ("Southpaw") announced today that it has terminated its offer to purchase any and all Series A Preferred Shares (the "Shares") of Syncora Holdings Ltd. (the "Company") as of 9:00 a.m., New York City time, on October 18, 2012. The offer was terminated in connection with receipt by Southpaw of a letter from the Company indicating that the Company may decline to approve or register the transfer of Shares depending upon certain factors.

The depositary has indicated that, as of 9:00 a.m., New York City time, on October 18, 2012, no Shares had been validly tendered pursuant to the Offer.

Computershare serves as the depositary and information agent for the offer.

The Depositary and Information Agent for the Offer is:

COMPUTERSHARE
480 Washington Blvd
Attn: Information Agent Group
AIM # 074-2800
Jersey City, NJ 07310
Collect: (201) 680-6590
Call Toll Free: (866) 273-1409

SOURCE Southpaw Asset Management LP