Scor SE

Capital/Financing Update • Dec 2, 2010

Press Release (p.1/2) 02 December 2010 N° 33 – 2010

Co For further information, please contact: Jean-Charles Simon / Géraldine Fontaine +33 (0) 1 46 98 73 17 Communications and Public Affairs Antonio Moretti +44 (0) 203 207 8562 Investor Relations Director

SCOR has no exposure to the countries affected by the sovereign debt crisis

In November 2008, SCOR highlighted the inevitable rise in sovereign risk in the countries the most affected by the crisis, whose public finances were likely to deteriorate sharply. The Group had thus announced that it would completely remove its exposure to these risks.

This disinvestment policy was carried out from the end of 2008. Today, SCOR therefore has no assets linked to sovereign risk in Greece, Ireland, Portugal or Spain. And across these countries, SCOR has no exposure to covered bonds and only very marginal exposure (EUR 4 million, or some 0.02% of its investments) to corporate bonds related to issuers based in these countries.

SCOR is maintaining its investment policy in high-quality assets and in countries with the lowest sovereign risk.

François de Varenne, CEO of SCOR Global Investments, declared: "SCOR emphasised the risks of a major financial crisis before 2007 and drew the consequences in its asset management, as it then did with sovereign risk. Today, SCOR considers that it is essential to remain very vigilant with regard to the risks which could result from the monetary and budgetary policies in force in the majority of the main economic areas, particularly concerning the resurgence of inflation and the rise in interest rates."

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SCOR SE 1, av. du Général de Gaulle 92074 Paris La Défense Cdx France Tél + 33 (0) 1 46 98 70 00 Fax + 33 (0) 1 47 67 04 09 www.scor.com RCS Nanterre B 562 033 357 Siret 562 033 357 00020 Société européenne au capital de 1 478 740 032 euros

Press Release (p.2/2) 02 December 2010 N° 33 – 2010

Forward-looking statements

SCOR does not communicate "profit forecasts" in the sense of Article 2 of (EC) Regulation n°809/2004 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 3 March 2010 under number D.10-00085 (the "Document de Référence"), for a description of certain important factors, risks and uncertainties that may affect the business of the SCOR Group. As a result of the extreme and unprecedented volatility and disruption of the current global financial crisis, SCOR is exposed to significant financial, capital market and other risks, including movements in interest rates, credit spreads, equity prices, and currency movements, changes in rating agency policies or practices, and the lowering or loss of financial strength or other ratings.

SCOR SE

1, av. du Général de Gaulle 92074 Paris La Défense Cdx France Tél + 33 (0) 1 46 98 70 00 Fax + 33 (0) 1 47 67 04 09 www.scor.com RCS Nanterre B 562 033 357 Siret 562 033 357 00020 Société européenne au capital de 1 478 740 032 euros