Exhibit 99.1


               Potential Mandatory Suspension of Dividends Notice

Pursuant to the provisions of Section 4 of the Certificate of Designations for
the Non-Cumulative Perpetual Preferred Shares (the "Perpetual Preferred Shares")
of Scottish Re Group Limited (the "Company"), the Company hereby notifies
holders of the Perpetual Preferred Shares that the Company may not meet certain
financial tests required for the Company to pay dividends, as described in more
detail below. As a result, the Company may be precluded by the terms of the
Perpetual Preferred Shares from declaring and paying dividends on the October
15, 2008 dividend payment date.

The Company may be precluded from declaring and paying such dividends unless the
Company, through the generation of earnings or issuance of new ordinary shares,
increases the Adjusted Shareholders' Equity Amount ("ASEA") by a currently
undetermined amount by the second dividend date after the date of this notice.
The amount by which the ASEA must be increased to allow the payment of dividends
on the October 15, 2008 payment date cannot be determined until the Company
finalizes its financial results for the year ended December 31, 2007, which has
not occurred as of the date of this notice.

In addition, because the Company has not finalized its financial results for the
year ended December 31, 2007, it cannot provide the results of its Trailing Four
Quarters Consolidated Net Income Amount or its ASEA for the relevant period and
dates. As previously disclosed in a Form 12b-25/A filed by the Company with the
Securities and Exchange Commission on March 27, 2008, the Company's revenues
will decrease for the year ended December 31, 2007 and the Company currently
anticipates that its net loss after tax for the year ended December 31, 2007
will be higher than its net loss reported for the year ended December 31, 2006.
If these results are realized, the Company will have a Trailing Four Quarters
Consolidated Net Income Amount of less than zero and ASEA will have decreased by
greater than 10%. As a result, the Company will be precluded from paying
dividends on the October 15, 2008 dividend payment date.

The Company intends to send a follow-up notice once it has finalized its
financial results for the year ended December 31, 2007 and is able to provide
the results of its Trailing Four Quarters Consolidated Net Income Amount and its
ASEA for the relevant period and dates.

Terms not otherwise defined herein shall have the definition given them in the
prospectus supplement dated June 28, 2005 regarding the Perpetual Preferred
Shares.