Zurich Allied starts ADR program in the US

Zurich, January 12, 1999. - Zurich Allied AG - the Swiss-based holding company of Zurich Financial Services - has established a sponsored American Depositary Receipts (ADR) program through J.P. Morgan in the US. The ADRs begin trading today in the over-the-counter market under the symbol ZRHAY. Each 5 American Depositary Shares - denominated in US dollars - represent 1 registered share of Zurich Allied AG. Zurich Allied’s shares have a nominal value of CHF 10.- and are traded on the Swiss Exchange. Before the merger, Zurich Insurance Company also had an ADR program in operation.

Allied Zurich p.l.c. - the UK-based holding company of Zurich Financial Services - already has a US dollar denominated ADR program (Ticker: ADZHY) in place.

"With the introduction of Zurich Allied’s ADR program, we provide greater flexibility to the financial community by creating a US dollar investment vehicle. We believe the ADRs will improve our access to US investors and further broaden our shareholder base", said Rolf Hüppi, Chairman of Zurich Allied and Chief Executive Officer of the Zurich Financial Services Group.