With recentlyaffirmed ratings from Fitch Ratings Moodys and A

The Company's alternative investment performance for the quarter compares tonegative 9.3 over the same period for the HFRI Fund of Funds Index, which theCompany believes is the most comparable benchmark for this asset class. For fullyear 2008, the return on Max Capital's alternative investments is estimated tobe negative 19.1 compared to negative 20.7 for the HFRI Fund of Funds Index W. Marston (Marty) Becker, Chairman and Chief Executive Officer of Max Capital,said: "With the end of the quarter, we wanted to update the investmentinformation we released on December 2, 2008. We plan to bring Maxsallocation to alternative investments within a target range of 10 to 15 oftotal invested assets, with a view to mitigating future volatility. During thequarter, we moved significantly closer to this goal with an alternativeinvestment allocation at December 31, 2008 of approximately 16.

With recentlyaffirmed ratings from Fitch Ratings, Moodys and A.M. Best, of which the latterhas revised its outlook to positive from stable for all ratings of Max, and theincrease in capital available to support underwriting that has resulted from ourreduction in exposure to alternative investments, we believe Max iswell-positioned heading into 2009 to take advantage of the market hardening thatis becoming evident." It is important to note that the estimated results contained in this pressrelease are based on information currently available, so are necessarilypreliminary. The Company will hold an investment community conference call on Wednesday,February 11, 2009, at 10 o'clock a.m. Eastern Time, to discuss the Company'sfourth quarter and full year 2008 financial results with interested investorsand shareholders. Further details of the call will be provided in a separatepress release.

This release includes statements about future economic performance, finances,expectations, plans and prospects of Max Capital Group Ltd. that constituteforward-looking statements for purposes of the safe harbor provisions of thePrivate Securities Litigation Reform Act of 1995. Such forward-lookingstatements are subject to certain risks and uncertainties that could causeactual results to differ materially from those suggested by such statements. Forfurther information regarding cautionary statements and factors affecting futureresults, please refer to Max Capital's most recent Annual Report on Form 10-K,Quarterly Reports on Form 10-Q filed subsequent to the Annual Report and otherdocuments filed by Max Capital with the SEC. Max Capital undertakes noobligation to update or revise publicly any forward-looking statement whether asa result of new information, future developments or otherwise Max Capital Group Ltd.N. LONG BEACH, Calif.(Business Wire)Obagi Medical Products, Inc. (Nasdaq:OMPI), a leader in topical aesthetic andtherapeutic skin health systems, announced today that Company management willpresent a corporate overview at the following two investor conferences: The 11th Annual ICR XChange Conference to be held on January 14-15, 2009 atthe St Regis Monarch Beach Resort in Dana Point, Calif.

The presentation willtake place at 8:50 am (PST) on Wednesday, January 14, 2009. The 27th Annual JP Morgan Healthcare Conference to be held on January 12-15,2009 at the Westin St Francis in San Francisco, Calif. The presentation willtake place at 12:30 pm (PST) on Thursday, January 15, 2009.A live webcast of the JP Morgan presentation will be available via the Internetby visiting the investor relations section of the Company's web site at The archived presentation will be available on the web site for30 days. About Obagi Medical Products, Inc.Obagi Medical Products develops and commercializes skin health products for thedermatology, plastic surgery, and related aesthetic markets.