Coughlin Stoia Geller Rudman & Robbins LLP Files Class Action Suit against Swiss Reinsurance Company

Business Wire, Feb 27, 2008

SAN DIEGO -- Coughlin Stoia Geller Rudman & Robbins LLP ("Coughlin Stoia") (http://www.csgrr.com/cases/swissre/) today announced that a class action has been commenced on behalf of an institutional investor in the United States District Court for the Southern District of New York on behalf of all U.S. residents or citizens who purchased Swiss Reinsurance Company ("Swiss Re") (SWX:RUKN) stock during the period between May 8, 2007 and November 19, 2007 (the "Class Period").

If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, Darren Robbins of Coughlin Stoia at 800/449-4900 or 619/231-1058, or via e-mail at djr@csgrr.com. If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at http://www.csgrr.com/cases/swissre/. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

The complaint charges Swiss Re and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Swiss Re is the world's largest reinsurer with 70 offices in more than 25 countries.

The complaint alleges that during the Class Period, defendants made false and misleading statements about the Company's financial condition. Specifically, defendants failed to disclose that Swiss Re's Credit Solutions unit had written two credit default swaps that exposed the Company to great financial risk. In a credit default swap, one party guarantees that a third party borrower will not default on a debt. In this case, Swiss Re guaranteed certain mortgage-backed securities which included some subprime and collateralized debt obligations. When the existence and nature of the credit default swaps was disclosed, Swiss Re's stock price dropped from CHF97.55 to CHF87.55 (Swiss Francs) the next day.

Plaintiff seeks to recover damages on behalf of all U.S. residents or citizens who purchased Swiss Re stock during the Class Period (the "Class"). The plaintiff is represented by Coughlin Stoia, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.

Coughlin Stoia, a 190-lawyer firm with offices in San Diego, San Francisco, Los Angeles, New York, Boca Raton, Washington, D.C., Philadelphia and Atlanta, is active in major litigations pending in federal and state courts throughout the United States and has taken a leading role in many important actions on behalf of defrauded investors, consumers, and companies, as well as victims of human rights violations. The Coughlin Stoia Web site (http://www.csgrr.com) has more information about the firm.