ATRADIUS ANNOUNCES NEW CHIEF FINANCIAL OFFICER

Amsterdam - 16 December 2004, Atradius, a global leader in credit insurance and credit management, today announced that it appointed Delfin Rueda (40) as Chief Financial Officer and a member of its Management Board. Mr Rueda has extensive experience in corporate finance and investment banking, having advised many clients on numerous restructurings, mergers and acquisitions, IPOs and secondary equity offerings.

He joins from JPMorgan in London, where he held the position of Senior Vice President at JPMorgan's Financial Institutions Group. In this function Delfin Rueda was an advisor to a large number of insurance companies and he built up strong relationships with many European banks.

Wilfried Verstraete, CEO of Atradius, said: "Delfin's in-depth knowledge of insurance industry and his wide-spread corporate finance experience, make him the ideal candidate for the CFO function in Atradius. He will contribute strongly to our management board, thanks to his expertise in investment banking."

He added: "With the addition of Mr Rueda, who is Spanish, our Management Board is truly international. All four members have different nationalities, reflecting the multinational character of the company and its shareholders."

Before joining JPMorgan, Mr Rueda was Executive Director at Warburg Dillon Read, UBS AG in London. He started his career with Andersen Consulting in Madrid.

Delfin Rueda holds a Msc in Economic Analysis and Quantitative Economics from the Universidad Complutense in Madrid and an MBA from the Wharton School in Philadelphia.

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