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Successful placement of mandatory convertible securities amounting to CHF 341 million

17.12.2003

Swiss Life Holding today completed its placement of mandatory convertible securities totalling CHF 341.011 million with an open bookbuilding procedure.

The CHF 341.011 million in mandatory convertible securities (MCS II) issued by Swiss Life Cayman Finance Ltd. has been successfully placed. The conversion price has been fixed at CHF 215 resulting in a conversion ratio of 4.65116 Swiss Life Holding shares for each MCS II with a nominal value of CHF 1000. The fixed coupon was set at 1.0%.

Provisional trading in the MCS II is planned to begin on 23 December 2003, with payment due on 30 December 2003.

Credit Suisse First Boston is acting as sole lead manager and bookrunner for the mandatory convertible securities issue.


Swiss Life
The Swiss Life Group is one of Europe's leading providers of life insurance and long-term savings and protection. The Swiss Life Group offers individuals and companies comprehensive advice and 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 fifty countries.

Swiss Life Holding, registered in Zurich, was founded in 1857 as the Swiss Life Insurance and Pension Company. Shares of Swiss Life Holding are listed on the SWX Swiss Exchange (SLHN). The enterprise employs around 11 000 people worldwide.
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.
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