Zurich Financial Services will pay CHF 4 per registered share

Zurich, June 28, 2005 – Zurich Financial Services (Zurich) today announced that it will pay out to shareholders the reduction in nominal value of each registered share of CHF 4, as approved by the Annual General Meeting on April 19 of this year. The record date for the determination of the entitled shareholders is July 1, 2005. The payment will be effected free of charge on July 4, 2005 (value date), subject to fulfillment of all necessary requirements and the entry of the share capital reduction in the Commercial Register of the Canton of Zurich.

After this nominal value reduction, Zurich will have reduced its share capital by CHF 576,027,820 from CHF 936,045,207.50 to a new total of CHF 360,017,387.50 by reducing the nominal value of each registered share from CHF 6.50 to CHF 2.50.