Purchasers of Converium Common Stock and ADSs May be Entitled to Payment from an SEC Fair Fund

LAKE OSWEGO, Ore., April 12 /PRNewswire/ -- The following statement is being issued by The Garden City Group, Inc. regarding the SEC v. Zurich Financial Services case.

UNITED STATES DISTRICT COURT

SOUTHERN DISTRICT OF NEW YORK

Securities and Exchange Commission

v.

Zurich Financial Services

Case No. 08 Civ. 10760 (WHP)

SUMMARY NOTICE OF DISTRIBUTION OF FAIR FUND

IF YOU PURCHASED COMMON STOCK OR ADSs OF CONVERIUM HOLDING AG, NOW KNOWN AS SCOR HOLDING (SWITZERLAND) LTD. ("CONVERIUM"), BETWEEN DECEMBER 11, 2001 AND NOVEMBER 4, 2005, YOU MAY BE ELIGIBLE FOR COMPENSATION

The Securities and Exchange Commission ("SEC") alleged in a complaint that Zurich Financial Services ("Zurich") aided and abetted violations by Converium by inflating improperly its financial performance.  Pursuant to the Court's final judgment against Zurich, to which Zurich consented without admitting or denying the allegations in the SEC's Complaint, Zurich paid a total of $25,000,001 to the Court. Those funds, plus interest, comprise the Fair Fund (the "Fund") and will be distributed to eligible claimants.

WHO IS ELIGIBLE FOR COMPENSATION?

You may be eligible for compensation if you (a) purchased common stock (ordinary shares) or American Depositary Shares ("ADSs") of Converium from December 11, 2001 until, for purchasers of Converium common stock, the open of the Swiss markets on November 4, 2005 and, for purchasers of Converium ADSs, the open of the U.S.A. markets on November 4, 2005 and (b) held Converium common stock as of the open of the Swiss markets on November 4, 2005 and/or held Converium ADSs as of the open of the U.S.A. markets on November 4, 2005.

Certain persons, including certain persons affiliated with Zurich and Converium, are excluded from participation.  If you are not sure whether you are eligible to share in the Fund, you can get more information, including a detailed notice of the terms of the distribution, at www.ZurichSECsettlement.com and/or www.sec.gov.

HOW TO OBTAIN COMPENSATION

If you believe you are eligible, in order to share in the Fund you must submit a completed Proof of Claim so that it is received by the Claims Administrator no later than October 6, 2010.  To obtain the detailed notice and claim form, visit www.ZurichSECsettlement.com or www.sec.gov, or call the telephone numbers listed below.  

You may file a claim online at the Fair Fund website, www.ZurichSECsettlement.com, or mail a claim form to the following address: SEC v. Zurich Financial Services Fair Fund, c/o The Garden City Group, Inc., P.O. Box 9547, Dublin, OH 43017-4847.

You will not be charged for participating in the distribution of the Fund.

If you submit a timely, eligible claim, your recovery, if any, will depend on the number and dollar amount of valid claims submitted, how many shares of Converium common stock or ADSs you purchased, and when you bought, sold or held them.  The entire Fund will be distributed pursuant to the orders of the Court.

CLAIM FILING DEADLINE

All Proofs of Claim must be received by the Claims Administrator no later than October 6, 2010.

ADDITIONAL INFORMATION

Additional information, including copies of the Notice and Proof of Claim form, may be found at the Fund website, www.ZurichSECsettlement.com.  You can also obtain additional information or request copies of forms by contacting the Claims Administrator by email at [email protected], or by calling the following toll-free numbers: For Germany, Luxembourg, the Netherlands, Switzerland and the UK:  00 800 776 86269; for Canada: 1.866.621.7018; for the US and its Territories: 1.866.621.7018. Or you can call the following number, which is not toll-free: 1.941.906.4758.

SOURCE The Garden City Group, Inc.