Fairfax Financial Holdings Ltd. intends to make a normal course issuer bid, subject to regulatory approval, for up to one million of its subordinate voting shares through the facilities of the Toronto Stock Exchange and the New York Stock Exchange in accordance with the rules and policies of those Exchanges, the company announced on Wednesday.

The shares to be purchased for cancellation represent approximately 9.9% of Fairfax’s public float of almost 17 million currently outstanding subordinate voting shares. This normal course issuer bid will commence Sept. 22 and may extend until Sept. 21, 2007.

Fairfax says it is making this normal course issuer bid because it believes that in appropriate circumstances, its subordinate voting shares represent an attractive investment opportunity and that consequently purchases under the bid will enhance the value of the shares held by the remaining shareholders.

Fairfax has purchased 117,600 of its subordinate voting shares at an average price per share of $148.09 under its normal course issuer bid, which commenced Sept. 22, 2005 and will terminate on Thursday.