X0303 4 2008-08-26 0 0001352713 RAM Holdings Ltd. RAMR 0001362766 Voldstad Conrad P RAM RE, RAM RE HOUSE 46 REID STREET HAMILTON D0 HM 12 BERMUDA 1 0 0 0 Common Shares, $0.10 par value per share 2008-08-26 4 P 0 24548 1.557 A 275948 D Common Shares, $0.10 par value per share 2008-08-27 4 P 0 14652 1.5709 A 290600 D The price range was from $1.53 to $1.59. The reporting person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer, full information regarding the number of shares purchased at each separate price. The price range was from $1.53 to $1.59. The reporting person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer, full information regarding the number of shares purchased at each separate price. By Victoria W. Guest, Attorney-in-Fact 2008-08-28