Frankfurt/Main, June 7, 2006 — Shearman & Sterling advised DBV Öffentlichrechtliche Anstalt für Beteiligungen (DBVöR) on the sale of its 25 percent interest in DBV-Winterthur Holding AG to WinCom Versicherungs-Holding AG, a subsidiary of the Winterthur Group. The purchase price is confidential.

According to a statement by the management board of DBVöR, it is obliged to dispose of its minority stake until the year 2010 and to distribute the proceeds out of the sale to those individuals who held insurance at the time of the privatization.

Shearman & Sterling advised DBVöR both on the disposal of its interest in DBV-Winterthur Holding AG as well as in the upcoming distribution of the proceeds and the liquidation of DBVöR itself.

Attorneys involved include partners Dr. Roger Kiem (M&A/Corporate, Frankfurt), Reinhard Stockum (Tax, Frankfurt) and Dr. Hans Jürgen Meyer-Lindemann (Antitrust, Düsseldorf) as well as the associates Bodo Bender (Tax, Düsseldorf) and Joachim Grittmann (M&A/Corporate, Mannheim).

For additional information contact:
Marcus Brans | Düsseldorf | +49.211.17888.907 |