Consolidation Data Centers

Zurich, July 17, 2003 - Zurich Financial Services (Zurich) today announced that the Data Center in Swindon UK will be integrated into the Data Center in Switzerland.

The consolidation of the two European Data Centers is an important part of the global IT strategy announced on May 9, 2003, which aims to consolidate and streamline IT services throughout the company and to manage them in a centralized and cost-efficient way. Zurich plans significant cost reductions by simplifying and standardizing its European Data Center infrastructure. The company will be working with its employees on the plans for the migration, which is subject to regulatory approvals.

Michael Paravicini, Chief Information Technology Officer of Zurich Financial Services said, "The consolidation of the two Data Centers and a similar project in the United States are two of many strategic IT projects we started this year and that are expected to transform our IT functions over the coming years. Their successful completion will contribute to the cost-efficient delivery of IT services throughout the Group."

The centralization and streamlining of Zurich’s IT functions contributes to the comprehensive program announced on September 5, 2002, designed to improve profitability by USD 1 billion in the current year. In addition, the global IT program has been conceived to deliver efficiency improvements in 2004 and beyond.