Results of Africa Re in 2003

An excellent 2003 financial year for Africa Re:

• Written premiums: 164.2 million USD in 2003 against 104.3 million USD in 2002
• Total revenues including financial products: 169.7 million USD in 2003 against 108.6 million USD in 2002
• Net results: 6.5 million USD in 2003 against 5.7 million USD in 2002.