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Swiss Life completes sale of Banca del Gottardo to BSI

10.03.2008

After receiving all the necessary permits and authorisations, Swiss Life has completed its sale of Banca del Gottardo to BSI for a price of CHF 1.875 billion.

On 7 November 2007, Swiss Life announced that it had reached an agreement with the Generali Group for the sale of Banca del Gottardo to BSI bank in Ticino, which belongs to the Italian financial services group. After all the necessary permits and authorisations were received, the sale went ahead on 7 March for a price of CHF 1.875 billion. This sum consisted of CHF 1.775 billion in cash and the bank's dividend for the 2007 financial year amounting to CHF 100 million, which became due before conclusion of the sale. The selling price can still be adjusted. Swiss Life will earn a profit on the sale of around CHF 600 million after taxes, which will be posted in the first half of 2008. Banca del Gottardo will be fully consolidated in Swiss Life's financial statements for 2007 and up to 7 March 2008.


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Pressrelease BSI
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 60 countries and regions.

Swiss Life Holding, registered in Zurich, dates back to the Schweizerische Rentenanstalt 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 9000.

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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