According to a press release from a law firm from August 29th, 2008, a statement regarding the SCOR Holding (Switzerland) AG Securities Litigation was issued, that a class action has been certified for all persons, who during the period from January 7th, 2002 through September 2nd, 2004 (inclusive), purchased or otherwise acquired the American Depositary shares of Converium Holding AG on the New York Stock Exchange, and all persons who, during that period, were U.S. residents and purchased or otherwise acquired Converium common stock on the SWX Swiss Exchange.
The press release stated also the two proposed settlements to resolve all claims in the action have been reached. One settlement is with SCOR Holding (Switzerland) AG (”SHS”), formerly known as Converium Holding AG (”Converium”), and the named individual officer defendants for US$75,000,000 in cash. The other settlement is with Zurich Financial Services (”ZFS”) for US$9,600,000 in cash.

The certified above stated class has been defined to include both

(1) all persons and entities who purchased Converium American Depositary Shares (”ADSs”) during the Class Period stated above</p>

(2) all persons and entities who, during the Class Period, were U.S. residents and purchased Converium Common Stock on the SWX Swiss Exchange during the Class Period stated above.

According to the pree release by the law firm a court hearing concerning the settlement will be held on December 12th, 2008, at 2:00 p.m. before the Honorable Denise Cote, in the United States District Court, Southern District of New York, located at 500 Pearl Street, Courtroom 11B, New York, New York 10007-1312, to determine whether the Court should approve the proposed settlements as fair, reasonable, and adequate, and to consider the application of Lead Counsel for attorneys’ fees and reimbursement of expenses.

To participate in the Settlements, you will be required to submit a Proof of Claim, using a form to be disseminated to members of the class. If you purchased or otherwise acquired Converium common stock on the SWX Swiss Exchange during the Class Period and were a U.S. resident, or if you purchased or otherwise acquired Converium ADSs on the NYSE during the Class Period regardless of your country of residency, you will be deemed to be a Member of the Class unless you expressly request to be excluded from the Class. Any request for exclusion must be received NO LATER THAN NOVEMBER 24th, 2008. Instructions on how to request exclusion from the Class are set forth in the Notice. You will be bound by, and subject to, any judgment rendered in the class action unless you timely request exclusion from the Class in the manner set forth in the Notice. If you submit a valid and timely request for exclusion, you will not be entitled to share in the proceeds of the Settlements, and you will not be bound by the Settlements or the Judgment. The Notice also describes how you may object to the Settlements. All objections must be received by the Court and counsel listed below on or before November 24th, 2008.