X0101 4 2003-05-22 0 0000911421 PARTNERRE LTD PRE 0001185859 BAYLIS ROBERT M 1 0 0 0 Non Qualified Stock Option (right to buy) 52.68 2003-05-22 5 A 0 4500 0.0 A 2003-05-22 2013-05-22 Common Shares 4500 4500 D Options granted to Directors are granted out of the shareholder approved "1993 Non-Employee Directors Stock Plan". All options vest immediately on the date of grant and remain exercisable for a period of ten years from the date of grant. Amanda Sodergren, Attorney-in-fact 2003-05-27