BW20030430002035  20030430T092701Z UTC



( BW)(ALLIANZ-AG)(ALZ) Dividend Declaration

    Business Editors
    UK REGULATORY NEWS

    MUNICH, Germany--(BUSINESS WIRE)--April 30, 2003--



                           Legally non binding translation, for convenience only.



                                         Allianz Aktiengesellschaft
                                                   Munich

                               - Securities Code Numbers 840 400 / 840 405 -

Announcement of dividends on shares and
distributions on profit participation certificates


On 29 April 2003, the Annual General Meeting of Allianz
Aktiengesellschaft resolved to make a dividend payment of Euro 1.50 on
each of its no-par shares entitled to dividends.

Capital yields tax of 20% and a solidarity supplement of 5.5 % on the
capital yields tax (total 21.1%) will be withheld.

For the business year 2002, holders of profit participation
certificates will receive, pursuant to ss. 2 of the certificates'
conditions, a distribution of Euro 3.60 per certificate with a nominal
value of Euro 5.12. Capital yields tax of 25% and a solidarity
supplement of 5.5% on the capital yields tax (total 26.375%) will be
withheld.

Beginning on 30 April 2003, dividends on shares and distributions on
profit participation certificates will be paid at all branches of the
banks listed below upon the submission of share dividend coupon No. 9
or distribution coupon No. 25 of the profit participation
certificates, respectively.


Banks in Germany:

Dresdner Bank AG
Deutsche Bank AG
Bayerische Hypo- und Vereinsbank AG
Commerzbank AG
DekaBank Deutsche Girozentrale
Hauck & Aufhauser Privatbankiers KGaA
HSBC Trinkhaus & Burkhardt KgaA
ING BHF-Bank AG
MERCK FINCK & CO PRIVATBANKIERS
B. Metzler seel. Sohn & Co. KGaA
Sal. Oppenheim jr. & Cie. KGaA
M.M. Warburg & CO KGaA
Marcard, Stein & Co.


Banks in Switzerland:

UBS AG
Credit Suisse First Boston
Dresdner Bank (Schweiz) AG
Deutsche Bank (Schweiz) AG

In France, Credit Lyonnais is responsible for payment of the dividends
to the custodian banks.

The dividends on shares and the distribution on profit participation
certificates held in collective custody will be paid directly into the
accounts of the shareholders or of the holders of the profit
participation certificates at their custodian banks.

Note for German taxpayers who are shareholders or holders of profit
participation certificates.

Within the framework of German income and corporation tax laws,
resident shareholders and holders of profit participation certificates
may deduct the withheld capital yields tax when filing their tax
returns from the respective tax. The withheld solidarity supplement
may be deducted from the fixed solidarity supplement.

The capital yields tax and solidarity supplement will not be deducted
in the case of those shareholders or holders of profit participation
certificates who submit to their custodian bank a non-assessment
certificate ("Nicht-Veranlagungsbescheinigung"). The same applies in
case of the submission of an application for the exemption from
taxation of specified income up to a prescribed limit
("Freistellungsauftrag") with a sufficient residual amount for tax
exemption.



Munich, April 2003

Allianz Aktiengesellschaft

The Board of Management
   Short Name: Allianz AG
   Category Code: DIV
   Sequence Number: 00004412
   Time of Receipt (offset from UTC): 20030430T102014+0100

    --30--ac/uk*

    CONTACT: Allianz AG

    KEYWORD: GERMANY UNITED KINGDOM INTERNATIONAL EUROPE
    INDUSTRY KEYWORD: BANKING INSURANCE
    SOURCE: Allianz AG


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