HAMILTON, Bermuda, Dec. 12 /PRNewswire-FirstCall/ -- Syncora Holdings Ltd. (NYSE: SCA) ('Syncora' or the 'Company') today announced that it was notified by the NYSE Regulation, Inc. that as a result of the Company's common shares no longer meeting the New York Stock Exchange ('NYSE') continued listing standards, the NYSE will suspend trading of Syncora's common stock effective on the NYSE's opening on December 17, 2008. Syncora does not intend to appeal the NYSE's decision at this time and, consequently, it is expected that the common stock will be delisted following the NYSE's application to the Securities and Exchange Commission.

In particular, Syncora has been advised that its shares are out of compliance with two of the NYSE's continued listing standards: i) maintaining an average market capitalization of not less than $75 million over a consecutive 30 trading-day period and a stockholders' equity of not less than $75 million, and ii) maintaining an average closing price of not less than $1.00 over a consecutive 30 trading-day period.

The Company expects that its common stock will be quoted on the Financial Industry Regulatory Authority's over-the-counter bulletin board (the 'OTCBB') and on the Pink Sheets Inc.'s Pink Quote System (the 'Pink Sheets'). A new ticker symbol will be assigned on the day trading is suspended from the NYSE.

The delisting from the NYSE does not represent any change in the Company's current strategic plan, in the negotiations with the financial counterparties or in the involvement by the New York State Insurance Department in the Company's operations.

About Syncora Holdings Ltd.

Syncora Holdings Ltd. is a Bermuda-domiciled holding company formerly known as Security Capital Assurance Ltd. For more information, please visit www.syncora.com.

    Investors and Media Contact:
    Michael Gormley
    +1 441-279-7450
    michael.gormley@scafg.com

FORWARD-LOOKING STATEMENTS

This release contains statements about future results, plans and events that may constitute 'forward-looking' statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You are cautioned that these statements are not guarantees of future results, plans or events and such statements involve risks and uncertainties that may cause actual results to differ materially from those set forth in these statements.