X0202 3 2004-09-29 0 0001170593 PRIMUS GUARANTY LTD PRS 0001164098 TRANSAMERICA LIFE INSURANCE CO C/O AEGON USA INVESTMENT MANAGEMENT LLC 4333 EDGEWOOD ROAD N.E. CEDAR RAPIDS IA 52499-5335 0 0 1 0 Series A Conv. Voting Pref. Shares, par value $.01 per share 2004-09-29 Common Shares, par value $.01 per share 46289152 D Par value shall become $.08 per share upon completion of the initial public offering by Primus Guaranty, Ltd., reflecting a one for eight reverse share split to be effected immediately prior to such offering. Includes 1,200,000 shares of Series A Convertible Voting Preferred Shares, par value $.01 per share, that are convertible into 46,289,152 common shares, par value $.01 per share. Upon completion of the initial public offering of Primus Guaranty, Ltd., Series A Convertible Voting Preferred Shares will convert into common shares, par value $.08 per share. Not Applicable. Each Series A Convertible Voting Preferred Share, par value $.01 per share, is converted by dividing $25.00 by $0.6481. /s/ TRANSAMERICA LIFE INSURANCE COMPANY 2004-09-29