WHICH RISKS ARE DIRECTORS OFFICERS FACING IN

WHICH RISKS ARE DIRECTORS & OFFICERS FACING IN THE CURRENT ENVIRONMENT ? Thursday October 30 th 2008

LIS NA TIO L CO ED LIS NA NA TA K EN IO T NA R VE NO E TAK P LA L NA TIO N IO AT NA LIS N ED PA UE SC RE VER T NA ED N ED IS AL ED GE NA TIO NA E AG CK D ISE L A ION IS IS AL A CK ION AT N N ED LIS A AL ER IO AT CO ON OV D SE O TI P LA ED N AKE T NA D SE S RE A EP CU LIS E D

DOW JONES INDUSTRIAL AVERAGE TRADING PERFORMANCE SEPTEMBER 2 – OCTOBER 23 12, 500 9/15: Lehman files for bankruptcy / B of A purchases Merrill Lynch 9/22: Goldman Sachs and Morgan Stanley become commercial banks 11, 500 9, 500 8, 500 7, 500 10/13 Governments worldwide pledge cash injections. Dow posts biggest gain in history FTSE rises >300 points 10, 500 9/16: AIG fails; Government takes 80% stake 10/3: House passes TARP; Dow drops 486 points 9/29: Crisis goes global: Fortis and Hypo Real Estate bailed out by governments 10/8 UK government announces £ 400 B rescue package 10/15 Dow posts biggest one-day percentage drop since 1987 10/22: Dow drops 515 points on global economic concerns

US (DJIA) Brazil (BOVESPA) China (SHANHAI SE) Germany (DAX) India (SENSEX 30) Japan (NIKKEI) Russia (RTS) NL (AEX) UK (FTSE 100)

REGULATION

AGENDA Assessing the D&O Risk from an Underwriters perspective Gerard van Loon – Liberty International Underwriters (LIU) Europe The Ahold Experience Michiel van den Bosch – Koninklijke Ahold N. V. European style class actions and D&O activities in Europe Hans Londonck Sluijk – Houthoff Buruma N. V. D&O Market Conditions and Renewal Expectations for 2009 David Purdy – Willis Ltd.