SCOR Establishes Additional Reserves in the 4th Quarter of 2004 Following the World Trade Center Jury Verdict

Business Wire, March 24, 2005

PARIS -- On 6 December 2004, in the second phase of the World Trade Center Properties LLC ("WTC") insurance proceedings, a New York jury rendered its verdict. This indicates that the attack on the WTC on 11 September 2001 constitutes two occurrences according to the jury's interpretation of the applicable terms of the property insurance coverage issued by Allianz Global Risks U.S. Insurance Company and by the eight other insurers of the WTC that were parties to this trial. SCOR provided reinsurance for Allianz Global Risks' property insurance coverage of the WTC.

This verdict does not determine the amount of indemnification due from the insurers. Separate appraisal proceedings are underway to establish the amount of indemnification due from the insurers following the destruction of the WTC.

Since 2001, SCOR has held reserves in an amount corresponding to the possibility of indemnification reaching one full limit of cover.

The SCOR Group confirms that it considers this verdict to be contrary to the terms of the insurance coverage in force and to the intent of the parties. The Group will fully support Allianz's efforts to overturn the verdict.

In line with its prudent reserving policy, the SCOR Group has decided to establish additional reserves of EUR 20 million with regard to the reinsurance it provides to Allianz Global Risks for the WTC property insurance coverage. These reserves have been included in the 4th quarter 2004 accounts. This amount, which is net of retrocession, is in addition to existing reserves.

Certain statements contained in this press release relating to SCOR's plans, strategies and beliefs are forward-looking in nature and are based on management's assumptions and beliefs in light of the information currently available. The forward-looking statements involve risks and uncertainties that could cause actual results, performance or events to differ materially from those in such statements. Additional information regarding risks and uncertainties is set forth in the current annual report of the company.