Notification pursuant to Art. 20 of the Stock Exchange and Securities Trading Act
06 March 2007, Zurich
Reference is made to the announcements dated 28 November 2005 and 29 June 2006 regarding the notification by a group (the "Group") originally consisting of Swiss Reinsurance Company ("Swiss Re") and its subsidiaries and General Electric Company, a corporation domiciled in New York, with its business address at 3135 Easton Turnpike, Fairfield, Connecticut 06828, USA ("GE"), General Electric Capital Services, Inc., Stamford, Connecticut, USA, General Electric Capital Corporation, Stamford, Connecticut, USA, and GE Asset Management Incorporated, Stamford, Connecticut, USA (General Electric Capital Services and General Electric Capital Corporation together with GE, the "GE Parties"). As notified on November 28, 2005, Swiss Re and the GE Parties had entered into a Transaction Agreement dated 18 November 2005, which was followed by a Shareholding Agreement dated 9 June 2006 containing, inter alia, certain share transfer restrictions.
On 28 February 2007 Swiss Re agreed with the GE Parties to waive the share transfer restrictions from 1 through 9 March 2007 and to repurchase, subject to market conditions, 16'650'479 shares, with the remaining 16'650'478 shares held by the GE Parties being sold into the market in an accelerated bookbuild. The bookbuild was a precondition for Swiss Re's share repurchase.
On 1 March 2007 the GE Parties entered into the bookbuild agreement with a group of banks and agreed to sell 16'650'478 shares. Consequently, Swiss Re repurchased 16'650'479 shares from the GE Parties on that same day. Both transactions have been completed on 6 March 2007.
As a result of the completion of these transactions, the Group as notified on 28 November 2005 and 29 June 2006 has been dissolved and the holdings in Swiss Re shares of GE and its subsidiaries, including the GE Parties, have fallen below the 5% percentage threshold.
Following today's completion of the repurchase, Swiss Re holds 32'951'863 own shares (treasury shares barred from voting), which represent 8.8% of the voting rights relative to Swiss Re's 374'440'378 shares as currently registered in the commercial register.
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