This approval by the Brazilian reinsurance authority SUSEP(Superinténdencia de Seguros Privados Ministério da Fazenda) will enableSCOR to further enhance its long-established market position in Brazil, thelargest insurance market in Latin America. Total yearly insurance premiumvolume in Brazil is approximately EUR 20 billion. SCOR has been active inBrazil for many years and has two offices there, one in Rio de Janeiro andone in Sao Paolo. Jose Carlos Cardoso will be heading the Representativeoffice.

Denis Kessler, Chairman and CEO of SCOR, comments: "We are very pleased tohave been admitted to the Brazilian reinsurance market. Through ourextensive knowledge of the local market and our long-standing relationshipswith local insurers and corporations, we are confident that we will now beable to supply the Brazilian economy with even more comprehensive riskmanagement services. Following on from the Chinese reinsurance licenceawarded to the Group in February, the admission to the Brazilian marketconstitutes the second major opportunity this year for SCOR to enhance anddevelop its commitments and business relationships in a rapidly growinginsurance market."

Up to now, SCOR has provided reinsurance capacity to the Brazilian marketin traditional property treaty business and in the fields of facultative,agriculture and engineering reinsurance. In the future, SCOR will alsooffer casualty, surety, aviation and marine reinsurance. On the Life side,SCOR as the world's fifth largest reinsurer will make use of its entireproduct range and its in-house, highly advanced research centres inmortality, longevity, long term care and disability, in order to providethe market with new products and reinsurance solutions and servicesincluding medical and financial selection and pricing. By providingexpertise in areas such as Bancassurance and critical illness, as well asinnovation with regard to products and services, SCOR aims to be a part ofthe solid expansion of Life reinsurance in Brazil.

Forward looking statements

SCOR does not communicate "profit forecasts" in the sense of Article 2 of(EC) Regulation n degrees809/2004 of the European Commission. Thus, anyforward looking statements, contained in this communication, should not beheld as corresponding to such profit forecasts. Information in thiscommunication may include "forward-looking statements", including but notlimited to statements that are predictions of or indicate future events,trends, plans or objectives, based on certain assumptions and include anystatement which does not directly relate to a historical fact or currentfact. Forward-looking statements are typically identified by words orphrases such as, without limitation, "anticipate", "assume", "believe","continue", "estimate", "expect", "foresee", "intend", "may increase" and"may fluctuate" and similar expressions or by future or conditional verbssuch as, without limitations, "will", "should", "would" and "could." Unduereliance should not be placed on such statements, because, by their nature,they are subject to known and unknown risks, uncertainties and otherfactors, which may cause actual results, on the one hand, to differ fromany results expressed or implied by the present communication, on the otherhand.

Please refer to SCOR's document de référence filed with the AMF on March28, 2008 under number D.08-0154 (the "Document de Référence"), for adescription of certain important factors, risks and uncertainties that mayaffect the business of the SCOR Group.

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