January 4, 2007

Conning Expands Private Placement Asset Management Capabilities

Hartford, CT, January 4, 2007 - Conning Asset Management announced today that it has assumed asset management responsibility for the proprietary private placement portfolio of Swiss Re. The transfer became effective on January 1, 2007.

The private placement bond portfolio of Swiss Re, totaling approximately $1.6 billion in assets, was transferred from Swiss Re Asset Management ("SRAM"), Swiss Re's proprietary asset management team, to Conning Asset Management ("CAM"), a wholly-owned subsidiary of Swiss Re. CAM currently manages assets for more than 110 unaffiliated insurance clients.

Private placement credit research and underwriting resources from SRAM will join CAM coincident with the asset transfer. The dedicated team of private placement analysts will be coled by Robert Mills in Hartford, CT and John DeMallie in New York, NY with additional legal and operational personnel in Hartford. CAM is looking to actively grow its $2 billion in private placement assets under management.

Conning's CEO, Sal Correnti, commented, "Our products and services are focused on the insurance industry, where private placements represent an important asset class. The combined addition of private placement expertise and assets under management will significantly enhance our capacity to offer private placement asset management capabilities to both existing and prospective clients."

Conning's assets under management have grown from $23 billion in 2001, when it was acquired by Swiss Re, to approximately $70 billion inclusive of this mandate.

Conning
Founded in 1912, Conning & Company is a leading global provider of expert solutions and services to the insurance market. Conning's offerings include: (1) insurance industry research, (2) strategic financial insurance consulting and (3) customized insurance asset management services. The company is headquartered in Hartford, Connecticut with additional offices in New York, London and Dublin.

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