Change in the Group Executive Board of Zurich Financial Services

Zurich, June 15, 1999. - David Allvey, Member of the Group Executive Board and Chief of Corporate Operations, will resign from his position within Zurich Financial Services. He will consequently relinquish his directorship on the Board of Allied Zurich p.l.c.

David Allvey, former Finance Director of B.A.T Industries in London, took on his present role with Zurich Financial Services when the merger between the Zurich Group and the financial services businesses of B.A.T Industries was closed in September 1998 and subsequently moved to the Group Head Office in Zurich. David Allvey was instrumental in the implementation of the merger. As this phase has progressed very successfully and more rapidly than expected, he has now decided to pursue other opportunities outside the Zurich Financial Services Group.