Content

Hannover Re implements Stock Split 3:1

Hannover, 9 July 2002: At our Annual General Meeting on 24 May 2002 it was decided by a large majority to increase the capital stock of Hannover Re out of company funds and implement a stock split in a ratio of 3:1.

The stock split will serve to substantially reduce the market price of a single share, thereby rendering the share more accessible to a broader range of investors. This, in turn, will increase the share's liquidity and stimulate demand.

It is envisaged that the measure will be executed on 12 July 2002 after the close of trading. Listing "ex-split" in official stock market trading will commence on 15 July 2002. From this date onwards trading in the company's existing shares will cease, however the security identification number will remain 840 221.