Primus Guaranty, Ltd. Conference Call to Discuss 3rd Quarter 2008 Earnings Set for Wednesday, November 5, 2008 11:30 A.M. Eastern Standard Time

Primus Guaranty, Ltd. (NYSE:PRS) announced that it will host a conference call for investors on Wednesday, November 5, 2008 at 11:30 a.m. Eastern Standard Time to discuss its 3^rd quarter 2008 earnings, which are scheduled for release between 7 a.m. and 9 a.m. Eastern Standard Time on Wednesday, November 5, 2008. A copy of the earnings press release and financial supplement will be available in the Investor Relations section of the company’s Web site, located at www.primusguaranty.com. The conference call will be available via live or archived webcast at http://ir.primusguaranty.com/ or by dialing 800-591-6923 (domestic)/617-614-4907 (international), Passcode 31504272.

A replay of the call will be available from Wednesday, November 5, 2008 at 1 p.m. Eastern Standard Time until Wednesday, November 26, 2008 at 5 p.m. Eastern Standard Time. To listen to the replay, dial 888-286-8010 (domestic) or 617-801-6888 (international), Passcode 72558788.

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 provides protection against the risk of default on corporate, sovereign and asset-backed security obligations through the sale of credit swaps to dealers and banks. Primus Asset Management provides credit portfolio management services to Primus Financial Products, and manages private investment vehicles, including two collateralized loan obligations and three synthetic collateralized swap obligations for third parties.