TRANSFER OF GENERAL INSURANCE BUSINESS

1. Notice is hereby given that UMS Generali Marine S.p.A. applied to the Italian authority for insurance private companies, Istituto per la Vigilanza sulle Assicurazioni Private e di Interesse Collettivo (ISVAP), on 22nd July 2005, for this approval, pursuant to Decreto Legislativo 17th March 1995 n. 175, art. 75 to transfer to Assicurazioni Generali S.p.A. all of its rights and obligations under policies written by it including those written by it in the United Kingdom which are in force nowadays.

2. Copies of the statements of particulars of the proposed transfer are available for inspection at the offices of the Assicurazioni Generali S.p.A. United Kingdom Branch 100 Leman Street, EI 8AJ London.

3. Written representation concerning the transfer may be sent to ISVAP, Via del Quirinale 21, 00187 Roma, Italy before the expiry of a period of forty-two days from the date of the first published Gazette notice.

Genoa, 28 December 2005

UMS Generali Marine S.p.A.

Sede e Direzione Generale 1 16122 Genova – via S. Bartolomeo degli Armeni 17 C.P. 1495 – Tel 139 010 84071 – fax +39 010 8317336–– P. IVA 00881870109