OPTION FOR THE PAYMENT OF THE 2009 DIVIDEND IN SHARES

The shareholders, meeting on April 28, 2010, resolved, by 95,10% of the votes, that the EUR 1 dividend per share distributed for the 2009 fiscal year could be received by the shareholders either in cash or in new SCOR ordinary shares to be issued at EUR 15.96 per share.  The choice between the two formulas belongs to the shareholder:

- Each shareholders will receive directly from his bank or financial intermediary, as from Wednesday May 12, 2010, an option form (notice of « operation on securities ») on which the number of new shares to which the 2009 dividend he is entitled to corresponds will be specified.
- If the shareholder wishes to receive his dividend in SCOR ordinary shares, he shall return to his financial establishment, before Wednesday June 2, 2010, midnight (Paris time), his option form duly completed and executed.
- The new shares will be delivered by SCOR on June 15, 2010 to the financial establishments that will subsequently register them on the accounts of the shareholders having opted for the payment of the dividend in shares.

Warning: any form received after June 2, 2010 deadline will not be taken into account and the shareholder will receive his dividend in cash only.

- If the shareholder wishes to receive his dividend in cash, he is not requested to take any particular action: he will receive automatically his dividend in cash on June 15, 2010.
- For French Tax residents the applicable tax treatment to the payment of the dividend in shares is set in the same conditions than that corresponding to the receiving of a dividend in cash.
- The non-French Tax residents are invited to inform themselves as to the local tax treatment applicable and, if necessary, to take advice from their tax advisors in this respect.

For additional information please refer to the Q&A or contact SCOR Investors Relations service (actionnaires@scor.com).

DISCLAIMER:

The option to receive the dividend in shares is offered within the framework, notably, of articles 4.1 (d) and 4.2 (e) of the directive 2003/71/EC (applicable on the territory of the countries which are signatories to the European Economic Area ("EEA") Agreement) as implemented in France under articles 212-4, 4° and 212-5, 5° of the General Regulations of the French Financial Markets Authority

The option to receive the dividend in shares is not available to shareholders residing in jurisdictions where such option would or may require registration or approval by the local securities regulators. Shareholders residing outside of France are required to inform themselves of any local restrictions applying to them and to comply with such restrictions.  SCOR reserves the right not to accept the orders received from such shareholders. In this respect, the option is notably not available to shareholders residing in Japan.  It is, however, notably available to shareholders residing in the United-States, in Australia, in Canada, in Italy and in Switzerland.  Shareholders are required to inform themselves of the conditions and consequences relating to such an option that may apply under local law and are encouraged, in particular, to take advice from their tax advisors in this respect.  When deciding  to receive a dividend in shares, shareholders are required to consider the risks associated with an investment in shares.

The information relating to the Company, its share capital, its business, its strategy, its financial results and the risks it faces, is available in SCOR’s 2009 Reference Document (available, as well as the information relating to 2009 dividend and the text of the resolutions submitted to the AGM of April 28, 2010, on SCOR’s website www.scor.com).

The shareholders residing in Italy are expressly informed that this press release has been prepared by SCOR pursuant to Article 34-ter, paragraph 1, lett. l), of Consob Regulation n° 11971/1999 implementing Article 4.1 (d) of the Directive 2003/71/EC. This press release contains information regarding the offer to the shareholders of SCOR who reside in Italy to opt for the payment of the dividend in the form of shares of the same class than shares entitling to such dividend.