As approved by shareholders at the General Meeting of Swiss Life Holding on 10 May, a reduction in par value will be effected instead of a dividend distribution for the 2004 financial year. This will result in a payment to shareholders of CHF 4 per registered share. In contrast to a dividend payment, a return of par value is not subject to withholding tax. The key date for determining the entitled shareholders is 2 August 2005. For shareholders in Switzerland, the payout takes place free of charge on 3 August 2005 (value date).

Following the reduction of the par value from CHF 50 to CHF 46 per registered share, Swiss Life Holding's share capital will be reduced by CHF 135 103 272, from CHF 1 688 790 900 to a new total of CHF 1 553 687 628. The share capital entered in the commercial register consists of 33 775 818 registered shares, as before.


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www.swisslife.com

Swiss Life
The Swiss Life Group is one of Europe's leading providers of pension and life insurance products. The Swiss Life Group offers individuals and companies comprehensive advice across a broad range of products via agents, brokers and banks in its domestic market, Switzerland, where it is market leader, and selected European markets. Multinational companies are serviced with tailor-made solutions by a network of partners in over 40 countries.

Swiss Life Holding, registered in Zurich, dates back to the Swiss Life Insurance and Pension Company founded in 1857. Shares of Swiss Life Holding are listed on the SWX Swiss Exchange (SLHN). The Swiss Life Group employs a staff of around 10 000 people.

Cautionary statement regarding forward-looking information
This publication contains specific forward-looking statements, e.g. statements including terms like “believe”, “assume”, “expect” or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of the company and those explicitly or implicitly presumed in these statements. Against the background of these uncertainties readers should not place undue reliance on forward-looking statements. The company assumes no responsibility to update forward-looking statements or to adapt them to future events or developments.