Dividend Notice 2002

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Shareholders & Service

Annual General Meeting 2002

Münchener Rückversicherungs-Gesellschaft
Aktiengesellschaft in München

– Securities Identification No. 843 002 –
– Securities Identification No. 843 007 –

Dividend Notice

The Annual General Meeting of Shareholders on 17 July 2002 voted for a dividend of €1.25 to be paid on each share entitled to dividend. New registered shares (Securities Identification No. 843 004) resulting from the exercise of warrants (Securities Identification No. 843 009) at the beginning of 2002 are not entitled to dividend for the year 2001.

Payment of the dividend, which will be subject to deduction of 20% German withholding tax and 5.5% solidarity surcharge on the tax withheld (a total of 21.1%), will be made as from 18 July 2002 as follows:

 

  • For registered shares held in joint custody in the German giro transfer system, the dividend will be paid via Clearstream Banking AG, Frankfurt, to the shareholders' banks, which will credit the relevant amounts to the shareholders' accounts.

  • Payment of the dividend, which will be subject to deduction of 20% German withholding tax and 5.5% solidarity surcharge on the tax withheld (a total of 21.1%), will be made as from 18 July 2002 as follows:


Dresdner Bank AG
Bayerische Hypo- und Vereinsbank AG
Commerzbank AG
Deutsche Bank AG
Goldman, Sachs & Co. oHG
ING BHF-BANK AG
B. Metzler seel. Sohn & Co. KGaA
Morgan Stanley Bank AG
UBS Warburg AG

or any of their branches

as well as – in Switzerland – UBS AG, Basle und Zurich

 

  • For unrestrictedly transferable registered shares that resulted from the conversion of invalidated bearer shares, the dividend will be paid either via the depositary bank or directly by the Company to shareholders entered in the shareholders' register. Shareholders who still possess certificates for invalidated bearer shares are requested to submit these certificates together with unused Dividend Coupons Nos. 15-20 plus renewal talon either directly or via their bank to Bayerische Hypo- und Vereinsbank AG, Munich. After exchange of the shares and entry in the shareholders' register, these shareholders will then receive the dividend either via their depositary bank or directly from the Company.


Shareholders subject to taxation in Germany can offset the tax withheld against assessed tax in their assessment for German income tax or corporation tax. The solidarity surcharge withheld can be offset against the assessed solidarity surcharge. No imputation tax credit is involved in the dividend payment.

Withholding tax and solidarity surcharge will not be withheld in the case of shareholders liable to German taxation who have given their bank a "Nichtveranlagungsbescheinigung" (certificate from the German tax authorities that they are not subject to an assessment procedure). The same applies to such shareholders who have submitted a "Freistellungsauftrag" (German application for exemption from withholding tax).

For shareholders subject to tax assessment in Germany, the dividend will be taxed for the first time according to the new provisions of German corporation and income tax law ("half-income method").

Munich, July 2002

The Board of Management


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