Odey Asset Management LLP Adjusts its Holding in Converium

ZUG, Switzerland, Jan. 17, 2006 (PRIMEZONE) -- Converium Holding Ltd, Zug, has been notified that Odey Asset Management LLP, 12 Upper Grosvenor Street, London W1K 2ND, United Kingdom, has decreased its holding of registered shares with voting rights to 7,776,446. This corresponds to 5.3% of Converium's registered share capital. These shares are held and managed in various funds. None of these funds is holding shares in an amount, which exceeds 5% of Converium's registered share capital.

Odey Asset Management LLP is a British Financial Services Authority registered fund management house, and acts as the investment manager for several funds.

Converium Holding AG Zuzana Drozd Head of Investor Relations Phone +41 (0) 44 639 91 20 Fax +41 (0) 44 639 71 20 Esther Gerster Head of Public Relations Phone +41 (0) 44 639 90 22 Fax +41 (0) 44 639 70 22

Odey Asset Management LLP Adjusts its Holding in Converium Registered Shares from 11.2 Percent to 5.3 Percent

Disclosure of Shareholdings Pursuant to Art. 20 SESTA

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