Fairfax Financial Files Universal Shelf Prospectus

On April 20, 2004, Fairfax Financial Holdings Ltd. filed a universal shelf prospectus in Canada and the US. The shelf prospectus provides for the offering of up to US$750 million in subordinate voting shares, preferred shares, debt securities, share purchase contracts, warrants and units from time to time over the next two years.

Fairfax was represented by Torys, who served as Canadian counsel with a team that included David Chaikof, Karrin Powys-Lybbe, Thomas Yeo, and Hanif Nori in Toronto; and by Shearman & Sterling in Toronto, who served as US counsel with a team that included Christopher Cummings, Stephen Centa and Brent Westrop.