Changes on Munich Re's Board of Management

At its regular meeting today, Munich Reinsurance Company's Supervisory Board appointed Dr. Thomas Blunck and Dr. Wolfgang Strassl full members of the Board of Management. Stefan Heyd (60) and Dr. Detlef Schneidawind (61), who have been members of the Board of Management since 1 January 1998 and 1 January 1991 respectively, will be retiring on 31 December 2005.

This will result in the following changes in the distribution of responsibilities on the Board of Management: Mr. Blunck will be jointly responsible for Special and Financial Risks and for IT as from 1 October 2005, together with Dr. Torsten Jeworrek, and will assume sole charge of these divisions as from 1 January 2006.

Mr. Jeworrek will be jointly responsible for Corporate Underwriting/Global Clients as from 1 October 2005, together with Mr. Heyd, and as from 1 January 2006 will assume sole charge of this division.

Mr. Strassl will share responsibility for Life and Health with Mr. Schneidawind as from 1 October 2005, and will be solely responsible for this division as from 1 January 2006. Also with effect from 1 January 2006, he will assume responsibility for Human Resources from Dr. Schneidawind, at the same time becoming the Board member in charge of industrial relations, within the meaning of Section 33 of the German Co-Determination Act.

Mr. Blunck, born in 1965, joined Munich Re in 1999 as Head of Strategy/Economic Research in the Strategic Planning Division. He is currently Divisional Unit Head in the Special and Financial Risks Division.

Mr. Strassl, born in 1956, has been with Munich Re since 1988 and is currently Divisional Unit Head in the Life and Health Division.

Münchener Rückversicherungs-Gesellschaft
signed von Bomhard           signed Küppers