Disclosure of Investment

Zurich, December 13, 2001 - Pursuant to Article 20 of the Swiss Stock Exchange Law, Zurich Financial Services has received the following notice from Brandes Investment Partners, L.P.:

Brandes Investment Partners, L.P. (11988 El Camino Real, Suite 500, P.O. Box 919048, San Diego, CA 92191 - 9048, USA) ("Brandes") holds as of December 3, 2001 by virtue of discretionary investment authority from its clients 6.3% of the voting rights in Zurich Financial Services.

Brandes holds 2,820,337 ordinary shares of Zurich Financial Services and 24,664,763 American Depository Receipts ("ADRs") of Zurich Financial Services. The 24,664,763 ADRs represent 2,466,476.3 ordinary shares of Zurich Financial Services and entitle the holder to give voting instructions through the Bank of New York which administers the Zurich Financial Services ADR program.  All the said securities are beneficially owned by Brandes' clients.