Singapore Ups Stake in Converium to 5.12%

June 6, 2003

Converium Holding Ltd. has issued an announcement, in conformity with Swiss legal requirements, that the “Government of Singapore, Investment Corporation Pte Ltd (GIC), 168 Robinson Road #37-01, in Singapore 068912, has increased its holding from 1,992,411 registered shares in Converium Holding Ltd, Zug, to 2,051’815 registered shares with 2,051,815 votes.”

Converium indicated that this corresponds to an increase from 4.98 percent to 5.12 percent of the company’s registered shares with voting rights.

Swiss law requires public disclosure of any holdings by individuals or affiliated groups, which exceed five percent of a public traded company’s voting shares.

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