The rescissory and nullity actions pending at Cologne District Court on the part of some shareholders against the resolutions adopted at the Ordinary General Meeting of Kölnische Rückversicherungs-Gesellschaft AG on 26 June 2007 pertaining to the transfer of the shares of the remaining company shareholders to General Reinsurance Corporation as the principal shareholder pursuant to §§ 327a ff. German Stock Corporation Act in return for cash compensation (squeeze-out) have today been dismissed at first instance by Cologne District Court.

At the same time, in a fast-track procedure at first instance Cologne District Court has allowed the company's submission to the effect that the actions which have been filed do not preclude the entry of the squeeze-out in the Commercial Register.

The plaintiffs may appeal against the District Court's rulings. It will be possible to enter the squeeze-out when and as soon as the fast-track proceedings have been successfully concluded on a legally binding basis.

Cologne, 18 July 2008

Kölnische Rückversicherungs-Gesellschaft AG
The Management Board
Theodor-Heuss-Ring 11
50668 Köln