Zurich Financial Services To Replace Zurich Allied In SMI

As a part of measures aimed at unifying its group structure, Zurich Financial Services Group will dissolve its dual holding structure and in future be consolidated under the roof of a single holding entity domiciled in Switzerland. As a result, the dual structure of the group's Swiss and British shares listed on the SWX Swiss Exchange and London Stock Exchange (LSE), respectively, shall also be eliminated.

The shares of Zurich Allied (CH) and Allied Zurich (UK) that were traded for the last time on 16 October 2000 are to be merged into the unified shares of Zurich Financial Services (ZFS). As of 17 October 2000, these securities will be listed and also traded for the first time on the SWX Swiss Exchange.

On its first trading day, Zurich Financial Services shall be included with its full weighting in the SMI (and SPI) and replace Zurich Allied. To date, only Zurich Allied was calculated into the Swiss indices. With the added component of Britain's Allied Zurich (which comprises roughly 43% of the ZFS Group), the number of outstanding shares of Zurich Financial Services that is instrumental in the calculation of the indices shall increase substantially. The weighting of ZFS in the Swiss Market Index (SMI) will consequently amount to approximately 7.03% (Zurich Allied previously: 4.20%), reflecting a market capitalisation of CHF 68.8 billion (Zurich Allied previously: CHF 39.9 billion).