Global Investments
International Limited

The Board of Directors of Zurich International Life Limited has declared its dividend rates for the year that ended 31 December 2004. Details of the gross dividend rates are shown below, together with historical dividend information and the gross interim dividend rates for 2005. The bonus dividend for 2004 will be added to the account values at the end of March 2005.

In addition it should be noted that new guaranteed investment rates will apply from 1 April 2005. These new rates are also detailed below.

Historical gross dividend rates for IOM policies
Currency	1995	1996	1997	1998	1999	2000	2001	2002	2003	2004
Sterling	8.85%	8.60%	8.00%	7.30%	7.25%	7.15%	7.15%	7.10%	5.00%	4.50%
US dollars	7.50%	7.00%	6.50%	5.75%	5.50%	5.50%	5.40%	5.30%	4.75%	4.25%
Eagles	6.00%	5.70%	5.35%	4.60%	4.25%	4.15%	4.15%	4.15%	3.00%	2.50%
Australian dollars	9.50%	9.00%	8.50%	7.50%	7.25%	7.15%	7.15%	7.15%	5.50%	5.00%
Euro	6.25%	6.40%	6.25%	5.65%	5.20%	5.00%	5.00%	5.00%	4.00%	3.50%
Hong Kong dollars	7.50%	7.00%	6.50%	5.75%	5.50%	5.50%	5.40%	5.30%	4.75%	4.25%
Yen	4.35%	3.75%	3.00%	2.20%	2.20%	2.20%	2.20%	2.20%	1.00%	1.00%

The interim dividends are credited to Guaranteed Accumulation funds and Eagle Living funds throughout the year. Following the 2005 dividend declaration, any excess will be added to the investment account.

Revised rates for guaranteed investment returns will apply to new policies with an issue date on or after 1 April 2005 and to existing policies* reaching their ten year anniversary on or after this date. These changes reflect the fall in market yields since the rates were last fixed (* Please note that this does not apply to Domus policies).

It should be noted that the Hong Kong dollar, Australian dollar and Japanese Yen funds are closed to new business.

N.B. All figures quoted above are gross of the annual management charge. The annual management charge is 0.50% on GAF funds.