Hanover Re Issues Corrections to Press Reports

Hanover Re issued the following press release following a speech by their Chairman, Wilhelm Zeller that was widely reported: Wilhelm Zeller, the Chairman of our Executive Board, gave a speech on the occasion of the Goldman Sachs European Financials Conference 2003 in Rome on 18 June which obviously has been widely misinterpreted. Below a summary of what Mr. Zeller actually said. In addition, we would like to comment on yesterday's Standard & Poor's rating action on our London subsidiary, International Insurance Co. of Hannover Ltd. (Inter Hannover), lowering of the long-term counterpa...