SWX: Converium: Requirements For Inclusion In The SMI

In connection with the forthcoming IPO of Converium (anticipated first trading day: 11 December 2001), the Index Commission of the SWX Swiss Exchange has examined the matter of the inclusion of Converium in the Swiss Market Index (SMI). The SWX Management Board, acting at the request of the Index Commission, has ruled as follows:

Converium shall be included in the SMI if the issue fulfils the acceptance criteria as set forth in the SMI Rules, in particular those pertaining to minimum capitalisation and free float (on a closing-price basis) subsequent to the exercise of the greenshoe. Should the greenshoe not be exercised, an examination of the acceptance criteria will be made on the basis of the 10 January 2002 closing price of Converium following conclusion of the stabilisation period (anticipated to be 10 January 2002).

Whatever the case may be, any actual acceptance will take place subsequent to the issuance of an SWX Message to that effect and the lapse of a 14-day notification period.