Fitch upgrades SCOR to 'A'

Fitch Ratings has upgraded SCOR SE's ratings to "A" on Insurer Financial Strength (IFS) and to "A" on its Long Term Issuer Default Rating (IDRs). The rating on the Junior Subordinated Debt moves to "BBB+". The outlook for the IFS rating and the Long-term IDRs remains stable. Previously, the ratings were "A-", "A-" and "BBB" respectively.

SCOR welcomes the decision by Fitch to upgrade the Group taking into account "SCOR's strong business and risk diversification, solid business position and recovering profitability".

The upgrade further reflects Fitch's view of the Group's strengthened capital position after the acquisition of Converium and the successful integration of the two companies.

The release by Fitch can be accessed via their homepage: http://www.fitchratings.com

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Communications timetable

2008 First Half Results 27 August 2008

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, any forward looking statements, contained in this communication, should not be held as corresponding to such profit forecasts. Information in this communication may include "forward-looking statements", including but not limited to statements that are predictions of or indicate future events, trends, plans or objectives, based on certain assumptions and include any statement which does not directly relate to a historical fact or current fact. Forward-looking statements are typically identified by words or phrases 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 verbs such as, without limitations, "will", "should", "would" and "could." Undue reliance should not be placed on such statements, because, by their nature, they are subject to known and unknown risks, uncertainties and other factors, which may cause actual results, on the one hand, to differ from any results expressed or implied by the present communication, on the other hand.

Please refer to SCOR's document de référence filed with the AMF on March 28, 2008 under number D.08-0154 (the "Document de Référence"), for a description of certain important factors, risks and uncertainties that may affect the business of the SCOR Group.

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