X0303 4 2008-12-03 0 0001385613 Greenlight Capital Re, Ltd. GLRE 0001400039 Courtis Tim THE GRAND PAVILION, 802 WEST BAY RD, PO BOX 31110 GEORGE TOWN E9 KY1 1205 CAYMAN ISLANDS 0 1 0 0 Chief Financial Officer Class A Ordinary Shares 2008-12-03 2008-12-03 4 P 0 3000 10.145 A 97000 D This transaction was executed in multiple trades at prices ranging from $10.06 to $10.16. The price reported above reflects the weighted average purchase price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or security holder of the issuer, full information regarding the number of shares and prices at which the transaction was effected. /s/ Tim Courtis 2008-12-05