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Zurich Financial Services closes repurchase of Bâloise shares

Zurich, October 14, 2003 – Zurich Financial Services Group (Zurich) has, based on receipt of regulatory approval, completed the purchase of 11,600,000 Bâloise shares from The Strategic Money Management Company B.V. (SMM). This transaction was announced on July 16, 2003. The purchase price was set at CHF 47.30 per share amounting to an aggregate transaction volume of CHF 548.7 million.

Zurich Financial Services is an insurance-based financial services provider with an international network that focuses its activities on its key markets of North America, the United Kingdom and Continental Europe. Founded in 1872, Zurich is headquartered in Zurich, Switzerland. It has offices in more than 50 countries and employs about 64,000 people.