Disclosure notification in accordance with Article 20 of the Swiss Stock Exchange Act

22 April 2008, Zurich

In compliance with the Swiss Federal Act on Stock Exchanges and Securities Trading, Merrill Lynch & Co., Inc., 4 World Financial Center, New York, NY 10080, USA, notified Swiss Reinsurance Company Ltd (Swiss Re), Mythenquai 50/60, 8022 Zurich, on 18 April 2008 to hold the following holding as per 14 April 2008 through an acquisition by a number of its Group companies listed below:

Offenlegungsmeldung gemäss Art. 20 Börsengesetz

Gestützt auf das Bundesgesetz über die Börsen und den Effektenhandel hat Merrill Lynch, Co., Inc., 4 World Financial Center, New York, NY 10080, USA, der Schweizerischen Rückversicherungs-Gesellschaft AG (Swiss Re), Mythenquai 50/60, 8022 Zürich, am 18. April 2008 gemeldet, dass sie aufgrund eines Erwerbs über verschiedene ihrer unten aufgeführten Gruppengesellschaften folgende Beteiligung per 14. April 2008 hält:

Purchase Positions / Erwerbspositionen:

1. Registered shares

Amount of shares:

Voting rights:

Percentage:

1. Namenaktien Anzahl: Stimmrechte:

Anzahl in Prozenten:

 

7'794'302

7'794'302

2,104%

2. Conversion rights, share purchase rights and granted (written) share sale rights, regardless of whether or not actual delivery is provided for or allowed:

2. Wandel-, Erwerbs- und eingeräumte (geschriebene) Veräusserungsrechte, unabhängig davon, ob diese Realerfüllung vorsehen oder zulassen:

 

Type of rights

 

Number of rights

Voting rights conferred

Security ID number (ISIN), if listed on a Swiss stock exchange, or basic terms
(Art. 17 para. 1bis SESTO-SFBC)

   

Number

Percentage2

(e.g.: identity of issuer, underlying, subscription ratio, exercise price, exercise period, exercise type)

Convertibles

240

1'928

0.001%

XS0138467401

Long Call

207

2'070

0.001%

Issuer: EUREX, Maturity: 19.09.2008, Ratio: 1:10, Strike Price: 110, Exercise Style: AMERICAN

Long Call

250

2'500

0.001%

Issuer: EUREX, Maturity: 19.09.2008, Ratio: 1:10, Strike Price: 120, Exercise Style: AMERICAN

Long Call

2'710

27'100

0.007%

Issuer: EUREX, Maturity: 20.06.2008, Ratio: 1:10, Strike Price: 130, Exercise Style: AMERICAN

Long Call

5'000

50'000

0.013%

Issuer: EUREX, Maturity: 19.12.2008, Ratio: 1:10, Strike Price: 84, Exercise Style: AMERICAN

Long Call

50'000

50'000

0.013%

Issuer: OTC, Maturity: 18.12.2009, Ratio: 1:1, Strike Price: 100, Exercise Style: AMERICAN

Long Call

75'000

75'000

0.020%

Issuer: OTC, Maturity: 20.06.2008, Ratio: 1:1, Strike Price: 84, Exercise Style: AMERICAN

Long Call

100'000

100'000

0.027%

Issuer: OTC, Maturity: 17.12.2010, Ratio: 1:1, Strike Price: 90, Exercise Style: AMERICAN

Long Call

100'000

100'000

0.027%

Issuer: OTC, Maturity: 19.12.2008, Ratio: 1:1, Strike Price: 84, Exercise Style: AMERICAN

Long Call

10'000

100'000

0.027%

Issuer: EUREX, Maturity: 19.12.2008, Ratio: 1:10, Strike Price: 90, Exercise Style: AMERICAN

Long Call

10'000

100'000

0.027%

Issuer: EUREX, Maturity: 19.12.2008, Ratio: 1:10, Strike Price: 120, Exercise Style: AMERICAN

Long Call

117'000

117'000

0.032%

Issuer: OTC, Maturity: 20.11.2008, Ratio: 1:1, Strike Price: 115, Exercise Style: EUROPEAN

Long Call

140'000

140'000

0.038%

Issuer: OTC, Maturity: 20.11.2008, Ratio: 1:1, Strike Price: 115, Exercise Style: EUROPEAN

Long Call

200'000

200'000

0.054%

Issuer: OTC, Maturity: 19.12.2008, Ratio: 1:1, Strike Price: 100, Exercise Style: EUROPEAN

Long Call

20'000

200'000

0.054%

Issuer: EUREX, Maturity: 17.12.2010, Ratio: 1:10, Strike Price: 90, Exercise Style: AMERICAN

Convertibles

27'000

235'356

0.064%

CH0023718619

Long Call

25'000

250'000

0.067%

Issuer: EUREX, Maturity: 17.12.2010, Ratio: 1:10, Strike Price: 140, Exercise Style: AMERICAN

Long Call

300'000

300'000

0.081%

Issuer: OTC, Maturity: 19.09.2008, Ratio: 1:1, Strike Price: 80, Exercise Style: AMERICAN

Long Call

300'000

300'000

0.081%

Issuer: OTC, Maturity: 19.12.2008, Ratio: 1:1, Strike Price: 100, Exercise Style: AMERICAN

Short Put

100

1'000

0.000%

Issuer: EUREX, Maturity: 18.12.2009, Ratio: 1:10, Strike Price: 70, Exercise Style: AMERICAN

Short Put

13'000

13'000

0.004%

Issuer: OTC, Maturity: 20.06.2008, Ratio: 1:1, Strike Price: 80, Exercise Style: AMERICAN

Short Put

2'500

25'000

0.007%

Issuer: EUREX, Maturity: 18.12.2009, Ratio: 1:10, Strike Price: 120, Exercise Style: AMERICAN

Short Put

4'000

40'000

0.011%

Issuer: EUREX, Maturity: 16.05.2008, Ratio: 1:10, Strike Price: 80, Exercise Style: AMERICAN

Short Put

4'600

46'000

0.012%

Issuer: EUREX, Maturity: 16.04.2008, Ratio: 1:10, Strike Price: 84, Exercise Style: AMERICAN

Short Put

50'00

50'000

0.013%

Issuer: EUREX, Maturity: 19.06.2009, Ratio: 1:10, Strike Price: 100, Exercise Style: AMERICAN

Short Put

50'000

50'000

0.013%

Issuer: OTC, Maturity: 19.12.2008, Ratio: 1:1, Strike Price: 80, Exercise Style: AMERICAN

Short Put

50'000

50'000

0.013%

Issuer: OTC, Maturity: 20.06.2008, Ratio: 1:1, Strike Price: 84, Exercise Style: AMERICAN

Short Put

50'000

50'000

0.013%

Issuer: OTC, Maturity: 19.06.2009, Ratio: 1:1, Strike Price: 100, Exercise Style: AMERICAN

Short Put

60'000

60'000

0.016%

Issuer: OTC, Maturity: 16.05.2008, Ratio: 1:1, Strike Price: 76, Exercise Style: AMERICAN

Short Put

150'000

150'000

0.040%

Issuer: OTC, Maturity: 18.12.2009, Ratio: 1:1, Strike Price: 76, Exercise Style: AMERICAN

Short Put

17'290

172'900

0.047%

Issuer: EUREX, Maturity: 20.06.2008, Ratio: 1:10, Strike Price: 92, Exercise Style: AMERICAN

Short Put

200'000

200'000

0.054%

Issuer: OTC, Maturity: 19.12.2008, Ratio: 1:1, Strike Price: 100, Exercise Style: EUROPEAN

Short Put

200'000

200'000

0.054%

Issuer: OTC, Maturity: 19.06.2009, Ratio: 1:1, Strike Price: 76, Exercise Style: AMERICAN

Short Put

60'000

600'000

0.162%

Issuer: EUREX, Maturity: 19.12.2008, Ratio: 1:10, Strike Price: 120, Exercise Style: AMERICAN

Written Sale Right

1'800

45

0.000%

CH0037068829

Written Sale Right

2'000

50

0.000%

CH0037068837

Written Sale Right

25'550

2'555

0.001%

CH0035744884

Written Sale Right

164'000

6'560

0.002%

CH0033636744

Total:

2.1

4'068'065

2.2

1.098%

 

Total Shareholding: 11'862'367  3.202%
Gesamtbeteiligung: 11'862'367  3.202%

 Sale Positions / Veräusserungspositionen:

 

Type of rights

 

Number of rights

Voting rights conferred

Security ID number (ISIN), if listed on a Swiss stock exchange, or basic terms
(Art. 17 para. 1bis SESTO-SFBC)

   

Number

Percentage

(e.g.: identity of issuer, underlying, subscription ratio, exercise price, exercise period, exercise type)

Long Put

50'000

500'000

0.135%

Issuer: EUREX, Maturity: 18.12.2009, Ratio: 1:10, Strike Price: 80, Exercise Style: AMERICAN

Long Put

450'000

450'000

0.121%

Issuer: OTC, Maturity: 19.12.2008, Ratio: 1:1, Strike Price: 100, Exercise Style: EUROPEAN

Long Put

30'000

300'000

0.081%

Issuer: EUREX, Maturity: 19.12.2008, Ratio: 1:10, Strike Price: 110, Exercise Style: AMERICAN

Long Put

300'000

300'000

0.081%

Issuer: OTC, Maturity: 20.06.2008, Ratio: 1:10, Strike Price: 90, Exercise Style: AMERICAN

Long Put

300'000

300'000

0.081%

Issuer: OTC, Maturity: 19.12.2008, Ratio: 1:1, Strike Price: 110, Exercise Style: AMERICAN

Long Put

250'000

250'000

0.067%

Issuer: OTC, Maturity: 19.12.2008, Ratio: 1:1, Strike Price: 100, Exercise Style: EUROPEAN

Long Put

200'000

200'000

0.054%

Issuer: OTC, Maturity: 19.12.2008, Ratio: 1:1, Strike Price: 140, Exercise Style: AMERICAN

Long Put

20'000

200'000

0.054%

Issuer: EUREX, Maturity: 20.06.2008, Ratio: 1:10, Strike Price: 110, Exercise Style: AMERICAN

Long Put

200'000

200'000

0.054%

Issuer: OTC, Maturity: 19.12.2008, Ratio: 1:1, Strike Price: 80, Exercise Style: AMERICAN

Long Put

17'500

175'000

0.047%

Issuer: EUREX, Maturity: 19.12.2008, Ratio: 1:10, Strike Price: 50, Exercise Style: AMERICAN

Long Put

150'000

150'000

0.040%

Issuer: OTC, Maturity: 19.12.2008, Ratio: 1:1, Strike Price: 50, Exercise Style: AMERICAN

Long Put

10'000

100'000

0.027%

Issuer: EUREX, Maturity: 20.06.2008, Ratio: 1:10, Strike Price: 100, Exercise Style: AMERICAN

Long Put

100'000

100'000

0.027%

Issuer: OTC, Maturity: 19.09.2008, Ratio: 1:1, Strike Price: 92, Exercise Style: AMERICAN

Long Put

100'000

100'000

0.027%

Issuer: OTC, Maturity: 19.12.2008, Ratio: 1:1, Strike Price: 80, Exercise Style: AMERICAN

Long Put

100'000

100'000

0.027%

Issuer: OTC, Maturity: 19.12.2008, Ratio: 1:1, Strike Price: 84, Exercise Style: AMERICAN

Long Put

100'000

100'000

0.027%

Issuer: OTC, Maturity: 19.12.2008, Ratio: 1:1, Strike Price: 80, Exercise Style: AMERICAN

Long Put

100'000

100'000

0.027%

Issuer: OTC, Maturity: 19.12.2008, Ratio: 1:1, Strike Price: 72, Exercise Style: AMERICAN

Long Put

10'000

100'000

0.027%

Issuer: EUREX, Maturity: 19.12.2008, Ratio: 1:10, Strike Price: 80, Exercise Style: AMERICAN

Long Put

10'000

100'000

0.027%

Issuer: EUREX, Maturity: 19.12.2008, Ratio: 1:10, Strike Price: 70, Exercise Style: AMERICAN

Long Put

75'000

75'000

0.020%

Issuer: OTC, Maturity: 20.06.2008, Ratio: 1:1, Strike Price: 84, Exercise Style: AMERICAN

Long Put

60'000

60'000

0.016%

Issuer: OTC, Maturity: 16.05.2008, Ratio: 1:1, Strike Price: 84, Exercise Style: AMERICAN

Long Put

5'000

50'000

0.013%

Issuer: EUREX, Maturity: 19.12.2008, Ratio: 1:10, Strike Price: 84, Exercise Style: AMERICAN

Long Put

30'000

30'000

0.008%

Issuer: EUREX, Maturity: 16.05.2008, Ratio: 1:1, Strike Price: 70, Exercise Style: AMERICAN

Long Put

1'500

15'000

0.004%

Issuer: EUREX, Maturity: 16.04.2008, Ratio: 1:10, Strike Price: 76, Exercise Style: AMERICAN

Long Put

1'300

13'000

0.004%

Issuer: EUREX, Maturity: 20.06.2008, Ratio: 1:10, Strike Price: 80, Exercise Style: AMERICAN

Long Put

10'000

10'000

0.003%

Issuer: EUREX, Maturity: 16.05.2008, Ratio: 1:1, Strike Price: 80, Exercise Style: AMERICAN

Long Put

50'000

500'000

0.135%

Issuer: EUREX, Maturity: 18.12.2009, Ratio: 1:10, Strike Price: 80, Exercise Style: AMERICAN

Short Call

450'000

450'000

0.121%

Issuer: OTC, Maturity: 19.12.2008, Ratio: 1:1, Strike Price: 100, Exercise Style: EUROPEAN

Short Call

250'000

250'000

0.067%

Issuer: OTC, Maturity: 17.12.2010, Ratio: 1:1, Strike Price: 150, Exercise Style: AMERICAN

Short Call

250'000

250'000

0.067%

Issuer: OTC, Maturity: 19.12.2008, Ratio: 1:1, Strike Price: 100, Exercise Style: EUROPEAN

Future Short

22'000

220'000

0.059%

Issuer: EUREX, Maturity: 18.07.2008, Ratio: 1:10, Strike Price: 0, Exercise Style: EXOTIC

Short Call

200'000

200'000

0.054%

Issuer: OTC, Maturity: 19.12.2008, Ratio: 1:1, Strike Price: 120, Exercise Style: AMERICAN

Flex Option Short

2'000

200'000

0.054%

Issuer: EUREX, Maturity: 19.09.2008, Ratio: 1:100, Strike Price: 96, Exercise Style: AMERICAN

Short Call

200'000

200'000

0.054%

Issuer: OTC, Maturity: 19.12.2008, Ratio: 1:1, Strike Price: 140, Exercise Style: AMERICAN

Short Call

20'000

200'000

0.054%

Issuer: EUREX, Maturity: 17.12.2010, Ratio: 1:10, Strike Price: 120, Exercise Style: AMERICAN

Future Short

1'500

150'000

0.040%

Issuer: EUREX, Maturity: 16.05.2008, Ratio: 1:100, Strike Price: 0, Exercise Style: EXOTIC

Short Call

109'769

109'769

0.030%

Issuer: OTC, Maturity: 19.12.2008, Ratio: 1:1, Strike Price: 91, Exercise Style: EUROPEAN

Short Call

100'000

100'000

0.027%

Issuer: OTC, Maturity: 17.12.2010, Ratio: 1:1, Strike Price: 120, Exercise Style: AMERICAN

Short Call

100'000

100'000

0.027%

Issuer: OTC, Maturity: 17.12.2010, Ratio: 1:1, Strike Price: 90, Exercise Style: EUROPEAN

Short Call

100'000

100'000

0.027%

Issuer: OTC, Maturity: 19.12.2008, Ratio: 1:1, Strike Price: 110, Exercise Style: AMERICAN

Short Call

100'000

100'000

0.027%

Issuer: OTC, Maturity: 19.12.2008, Ratio: 1:1, Strike Price: 100, Exercise Style: AMERICAN

Short Call

50'000

50'000

0.013%

Issuer: OTC, Maturity: 19.06.2009, Ratio: 1:1, Strike Price: 100, Exercise Style: AMERICAN

Short Call

2'500

25'000

0.007%

Issuer: EUREX, Maturity: 18.12.2009, Ratio: 1:10, Strike Price: 120, Exercise Style: AMERICAN

Short Call

2'000

20'000

0.005%

Issuer: EUREX, Maturity: 16.04.2008, Ratio: 1:10, Strike Price: 90, Exercise Style: AMERICAN

Short Call

1'800

18'000

0.005%

Issuer: EUREX, Maturity: 20.06.2008, Ratio: 1:10, Strike Price: 120, Exercise Style: AMERICAN

Short Call

1'500

15'000

0.004%

Issuer: EUREX, Maturity: 16.04.2008, Ratio: 1:10, Strike Price: 88, Exercise Style: AMERICAN

Short Call

900

9'000

0.002%

Issuer: EUREX, Maturity: 18.12.2009, Ratio: 1:10, Strike Price: 84, Exercise Style: AMERICAN

Short Call

500

5'000

0.001%

Issuer: EUREX, Maturity: 20.06.2008, Ratio: 1:10, Strike Price: 96, Exercise Style: AMERICAN

Short Call

400

4'000

0.001%

Issuer: EUREX, Maturity: 16.12.2011, Ratio: 1:10, Strike Price: 100, Exercise Style: AMERICAN

Written Call

10'012'150

420'486

0.108%

CH0028966296

Written Call

384'500

39'950

0.010%

CH0033636728

Written Call

292'901

139'059

0.008%

CH0033636736

Written Call

100'000

110'000

0.003%

CH0035744876

Written Call

28'912

102'891

0.001%

CH0035744892

Written Reverse Convertible

900'000

11'780

0.003%

XS0340410322

Written Reverse Convertible

760'000

9'948

0.003%

XS0340721751

Written Certificate Plus

63'115

63'115

0.017%

ANN5633B8073

Written Certificate Plus

35'297

35'297

0.010%

ANN5636T2271

Written Certificate Plus

29'547

29'547

0.008%

ANN5637H1565

Written Certificate Plus

17'020

17'020

0.005%

ANN5635F4910

Written Bull Certificate

13'270

13'270

0.004%

ANN5638M2870

Total:

7'514'863

2.029%

 

 

Group companies / Gruppengesellschaften:
Merrill Lynch, Co., Inc., 4 World Financial Center, New York, NY 10080, USA, indirect through its subsidiaries:
BlackRock Investment Management (UK) Limited, 33 King William Street, London EC4R 9AS, England,
Merrill Lynch Capital Markets AG, Stockerhof, Stockerstrasse 23, P.O. Box 773, 8039 Zurich, Switzerland,
Merrill Lynch, Pierce, Fenner, Smith, 4 World Financial Center, 250 Vesey Street, New York, NY 10080, USA
Merrill Lynch International, 2 King Edward Street, London EC1A 1HQ, England

Contact / Kontakt:
Swiss Re Investor Relations, T: +41 43 285 4444
Swiss Re Media Relations, Zurich, T: +41 43 285 7171
Contact Person Shareholder / Kontaktperson Aktionärin - Simone Schenk, Merrill Lynch Capital Markets AG, Stockerstrasse 23, 8002 Zurich, T: +41 44 297 7593