Release of an announcement according to Section 25a, para. 1 of the WpHG

WKN 843002
ISIN DE0008430026

1. Listed company:

Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München
Königinstraße 107, 80802 München, Deutschland

2. Notifier:

Morgan Stanley & Co International Plc, London, UK

3. Triggering event:

Falling below Threshold

4. Threshold(s) crossed or reached:

5%

5. Date at which the threshold is crossed or reached:

07.05.2012

6. Total amount of voting rights:

6. Total amount of voting rights:
2.54% (equals 4,549,070 voting rights)
calculated from the following total number of voting rights issued: 179,341,212

7. Detailed information on the voting rights proportion:

Voting rights proportion based on financial/other instruments pursuant to sec. 25a WpHG:
1.25% (equals 2,244,433 voting rights)
thereof held indirectly:
0.00% (equals 0 voting rights)

Voting rights proportion based on financial/other instruments pursuant to sec. 25 WpHG:
1.29% (equals 2,304,637 voting rights)
thereof held indirectly:
1.29% (equals 2,304,637 voting rights)

Voting rights pursuant to sec. 21, 22 WpHG:
0.00% (equals 0 voting rights)

8. Detailed information on financial/other instruments pursuant to sec. 25a WpHG:

Chain of controlled undertakings:
-

ISIN or name/description of the financial/other instrument:
See at the end of notification

1. Listed company:

Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München
Königinstraße 107, 80802 München, Deutschland

2. Notifier:

Morgan Stanley UK Group, London, UK

3. Triggering event:

Falling below Threshold

4. Threshold(s) crossed or reached:

5%

5. Date at which the threshold is crossed or reached:

07.05.2012

6. Total amount of voting rights:

2.54% (equals 4,549,070 voting rights)
calculated from the following total number of voting rights issued: 179,341,212

7. Detailed information on the voting rights proportion:

Voting rights proportion based on financial/other instruments pursuant to sec. 25a WpHG:
1.25% (equals 2,244,433 voting rights)
thereof held indirectly:
1.25% (equals 2,244,433 voting rights)

Voting rights proportion based on financial/other instruments pursuant to sec. 25 WpHG:
1.29% (equals 2,304,637 voting rights)
thereof held indirectly:
1.29% (equals 2,304,637 voting rights)

Voting rights pursuant to sec. 21, 22 WpHG:
0.00% (equals 0 voting rights)

8. Detailed information on financial/other instruments pursuant to sec. 25a WpHG:

Chain of controlled undertakings:
Morgan Stanley & Co International Plc

ISIN or name/description of the financial/other instrument:
See at the end of notification

1. Listed company:

Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München
Königinstraße 107, 80802 München, Deutschland

2. Notifier:

Morgan Stanley Group (Europe), London, UK

3. Triggering event:

Falling below Threshold

4. Threshold(s) crossed or reached:

5%

5. Date at which the threshold is crossed or reached:

07.05.2012

6. Total amount of voting rights:

2.62% (equals 4,692,247 voting rights)
calculated from the following total number of voting rights issued: 179,341,212

7. Detailed information on the voting rights proportion:

Voting rights proportion based on financial/other instruments pursuant to sec. 25a WpHG:
1.25% (equals 2,244,433 voting rights)
thereof held indirectly:
1.25% (equals 2,244,433 voting rights)

Voting rights proportion based on financial/other instruments pursuant to sec. 25 WpHG:
1.29% (equals 2,304,637 voting rights)
thereof held indirectly:
1.29% (equals 2,304,637 voting rights)

Voting rights pursuant to sec. 21, 22 WpHG:
0.08% (equals 143,177 voting rights)

8. Detailed information on financial/other instruments pursuant to sec. 25a WpHG:

Chain of controlled undertakings:
Morgan Stanley & Co International Plc, Morgan Stanley UK Group

ISIN or name/description of the financial/other instrument:
See at the end of notification

1. Listed company:

Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München
Königinstraße 107, 80802 München, Deutschland

2. Notifier:

Morgan Stanley International Limited, London, UK

3. Triggering event:

Falling below Threshold

4. Threshold(s) crossed or reached:

5%

5. Date at which the threshold is crossed or reached:

07.05.2012

6. Total amount of voting rights:

2.62% (equals 4,692,247 voting rights)
calculated from the following total number of voting rights issued: 179,341,212

7. Detailed information on the voting rights proportion:

Voting rights proportion based on financial/other instruments pursuant to sec. 25a WpHG:
1.25% (equals 2,244,433 voting rights)
thereof held indirectly:
1.25% (equals 2,244,433 voting rights)

Voting rights proportion based on financial/other instruments pursuant to sec. 25 WpHG:
1.29% (equals 2,304,637 voting rights)
thereof held indirectly:
1.29% (equals 2,304,637 voting rights)

Voting rights pursuant to sec. 21, 22 WpHG:
0.08% (equals 143,177 voting rights)

8. Detailed information on financial/other instruments pursuant to sec. 25a WpHG:

Chain of controlled undertakings:
Morgan Stanley & Co International Plc, Morgan Stanley UK Group, Morgan
Stanley Group (Europe)

ISIN or name/description of the financial/other instrument:
See at the end of notification

1. Listed company:

Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München
Königinstraße 107, 80802 München, Deutschland

2. Notifier:

Morgan Stanley International Holdings Inc, Delaware, USA

3. Triggering event:

Falling below Threshold

4. Threshold(s) crossed or reached:

5%

5. Date at which the threshold is crossed or reached:

07.05.2012

6. Total amount of voting rights:

2.71% (equals 4,856,099 voting rights)
calculated from the following total number of voting rights issued: 179,341,212

7. Detailed information on the voting rights proportion:

Voting rights proportion based on financial/other instruments pursuant to sec. 25a WpHG:
1.25% (equals 2,244,433 voting rights)
thereof held indirectly:
1.25% (equals 2,244,433 voting rights)

Voting rights proportion based on financial/other instruments pursuant to sec. 25 WpHG:
1.35% (equals 2,421,493 voting rights)
thereof held indirectly:
1.35% (equals 2,421,493 voting rights)

Voting rights pursuant to sec. 21, 22 WpHG:
0.11% (equals 190,173 voting rights)

8. Detailed information on financial/other instruments pursuant to sec. 25a WpHG:

Chain of controlled undertakings:
Morgan Stanley & Co International Plc, Morgan Stanley UK Group, Morgan
Stanley Group (Europe), Morgan Stanley International Limited

ISIN or name/description of the financial/other instrument:
See at the end of notification

1. Listed company:

Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München
Königinstraße 107, 80802 München, Deutschland

2. Notifier:

Morgan Stanley International, Delaware, USA

3. Triggering event:

Falling below Threshold

4. Threshold(s) crossed or reached:

5%

5. Date at which the threshold is crossed or reached:

07.05.2012

6. Total amount of voting rights:

3.56% (equals 6,378,164 voting rights)
calculated from the following total number of voting rights issued: 179,341,212

7. Detailed information on the voting rights proportion:

Voting rights proportion based on financial/other instruments pursuant to sec. 25a WpHG:
1.25% (equals 2,244,433 voting rights)
thereof held indirectly:
1.25% (equals 2,244,433 voting rights)

Voting rights proportion based on financial/other instruments pursuant to sec. 25 WpHG:
2.11% (equals 3,790,797 voting rights)
thereof held indirectly:
2.11% (equals 3,790,797 voting rights)

Voting rights pursuant to sec. 21, 22 WpHG:
0.19% (equals 342,934 voting rights)

8. Detailed information on financial/other instruments pursuant to sec. 25a WpHG:

Chain of controlled undertakings:
Morgan Stanley & Co International Plc, Morgan Stanley UK Group, Morgan
Stanley Group (Europe), Morgan Stanley International Limited, Morgan
Stanley International Holdings Inc

ISIN or name/description of the financial/other instrument:
See at the end of notification

ISIN or name/description of the financial/other instrument
(relevant for all notices I to VI):

Section 25 WpHG:

Physically-Settled Call Options
Expiration dates: 02 May 2012, 18 May 2012, 15 June 2012, 14 December 2012, 21 December 2012, 15 March 2013

Retransfer claims
Expiration date: Various contracts that can be exercised at the lenders discretion

Section 25a WpHG:

Cash-Settled Call Options
Expiration date: 21 December 2012

Physically Settled Put Options
Expiration dates: 02 May 2012, 18 May 2012, 15 June 2012, 21 December 2012

Cash-Settled Swaps
Expiration dates: 10 January 2013, 16 December 2013, 13 January 2014, 30 September 2015

Cash-Settled Put Options
Expiration dates: 15 June 2012, 22 June 2012

Cash-Settled Futures
Expiration dates: 18 May 2012, 15 June 2012, 20 July 2012

Munich, 15 May 2012

The Board of Management