X0202 4 2006-02-28 0 0001171500 PLATINUM UNDERWRITERS HOLDINGS LTD PTP 0001295482 Mitchell H Elizabeth PLATINUM UNDERWRITERS REINSURANCE, INC. 2 WORLD FINANCIAL CENTER, SUITE 2300 NEW YORK NY 10281 0 1 0 0 US President Restricted share units 2006-02-28 4 A 0 6949 A Common Shares 6949 6949 D Non-qualified Option (Right to Buy) 30.58 2006-02-28 4 A 0 26059 A 2016-02-27 Common Shares 26059 26059 D 1-for-1 These restricted share units ("RSUs") were awarded under the 2002 Share Incentive Plan (the "Plan") of Platinum Underwriters Holdings, Ltd. (the "Company"). On each of the third and fourth anniversaries following the date of grant, the Company will issue to the reporting person one Common Share of the Company for 50% of the RSUs awarded to the reporting person, reduced by the number of Common Shares which are equal in Fair Market Value (as defined in the Plan) on such date to the reporting person?s tax withholding obligation. Not applicable. The option vests in equal installments over four years on each anniversary following the date of grant. /s/ Michael E. Lombardozzi Attorney-In-Fact 2006-03-01