SOURCE: SCOR

October 22, 2007 01:07 ET

SCOR : SCOR holds in excess of 98% of SCOR Holding (Switzerland) Ltd., seeking cancellation action

PARIS LA DEFENSE, FRANCE--(Marketwire - October 22, 2007) - Press Release

22 October 2007

N degrees51 - 2007

For further information, please contact:

SCOR Corporate Communications +33 (0)1 46 98 71 39

Chief Communications Officer

Marco Circelli +33 (0)1 46 98 72 17

Director for Investor Relations

SCOR holds in excess of 98% of SCOR Holding (Switzerland) Ltd., seeking cancellation action

SCOR SE ("SCOR") announces that the SCOR Group now holds in excess of 98% of the voting rights of SCOR Holding (Switzerland) Ltd. (formerly Converium Holding Ltd.). According to Swiss laws and regulations, the SCOR Group herewith meets the conditions necessary for the filing of a cancellation action with respect to the remaining shares of SCOR Holding (Switzerland) Ltd. not owned by the SCOR Group in accordance with article 33 of the Swiss Stock Exchanges and Securities Trading Act.

Pursuant to applicable rules and regulations, in order for the SCOR Group to become the sole shareholder of SCOR Holding (Switzerland) Ltd., the SCOR Group will seek a court-ordered cancellation of the shares of the remaining shareholders of SCOR Holding (Switzerland) Ltd. for a consideration consisting of the same combination of cash and shares as offered in the public tender offer of the SCOR Group published on April 5, 2007, as amended on June 12, 2007.

In the context of such cancellation action, it is intended for SCOR Holding (Switzerland) Ltd. to apply for the delisting of its shares from the SWX Swiss Exchange and of its American Depositary Shares from the New York Stock Exchange as well as the deregistration of its securities and termination of its reporting requirements under the US Securities Exchange Act of 1934.

As a result of the acquisition of SCOR Holding (Switzerland) Ltd. (formerly Converium Holding Ltd.) by the SCOR Group, SCOR Holding (Switzerland) Ltd. will discontinue publishing quarterly financial information with immediate effect. SCOR Holding (Switzerland) Ltd. will continue, however, to comply with all applicable mandatory legal and regulatory disclosure obligations until the delisting of its shares from the SWX Swiss Exchange and of its American Depositary Shares from the New York Stock Exchange and the deregistration of its securities and termination of its reporting requirements under the US Securities Exchange Act of 1934.

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Forward looking statements

SCOR does not communicate "profit forecasts" in the sense of Article 2 of (EC) Regulation n degrees809/2004 of the European Commission. Thus, any forward looking statements, contained in this paragraph, should not be held as corresponding to such profit forecasts. Information in this communication may include "forward- looking statements", including but not limited to statements that are predictions of or indicate future events, trends, plans or objectives, based on certain assumptions and include any statement which does not directly relate to a historical fact or current fact. Forward-looking statements are typically identified by words or phrases such as, without limitation, "anticipate", "assume", "believe", "continue", "estimate", "expect", "foresee", "intend", "may increase" and "may fluctuate" and similar expressions or by future or conditional verbs such as, without limitations, "will", "should", "would" and "could." Undue reliance should not be placed on such statements, because, by their nature, they are subject to known and unknown risks, uncertainties and other factors, which may cause actual results, on the one hand, to differ from any results expressed or implied by the present communication, on the other hand.

Please refer to SCOR's document de référence filed with the AMF on April 10, 2007 under number D.07-0294, as updated by the seconde note complémentaire registered with the AMF on June 12, 2007 under registration number 07-183, for a description of certain important factors, risks and uncertainties that may affect the business of the SCOR Group.

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