BW20030507002123  20030507T151704Z UTC


( BW)(ALLIANZ-AG)(ALZ) Director Shareholding

    Business Editors
    UK REGULATORY NEWS

    MUNICH, Germany--(BUSINESS WIRE)--May 7, 2003--

SCHEDULE 10

NOTIFICATION OF MAJOR INTERESTS IN SHARES

1.    Name of company                                  2.    Name of shareholder having a major interest
      Allianz Aktiengesellschaft                             Herakles Beteiligungs GmbH, Am Sonnenplatz 1,      
      Address: Koniginstrasse 28                             Dresdner Bank AG, J�rgen-Ponto-Platz 1, D-60301   
      D-80802 Munchen                                        D-61116 Bad Vilbel, being a subsidiary of 
                                                             Frankfurt, this being a subsidiary of Allianz 
                                                             Finanzbeteiligungs GmbH,
                                                             K�niginstra�e 28, D-80802 M�nchen, this being 
                                                             a subsidiary of Allianz 
                                                             AG, K�niginstr. 28, D-80802 M�nchen                                   
                                                             

3.    Please state whether notification indicates      4. Name of the registered holder(s) and, if more than one holder
      that it is in respect of holding of the             the number of shares held by each of them   
      shareholder named in 2 above or in respect of       
      a non-beneficial interest or in the case of an 
      individual holder if it is a holding of that person's 
      spouse or children under the age of 18.

      in respect of the shareholder named in 2,                                     
  
5.    Number of            6.  Percentage of issued    7.    Number of               8.  Percentage of issued class
      shares/amount of         class                         shares/amount of stock
      stock acquired                                         disposed

9.    Class of security                                10.   Date of transaction     11. Date company informed
registered shares                                                                        April 25, 2003                           

12.   Total holding following this notification        13.   Total percentage holding of issued class following this
                                                             notification
                                                                4.47%
14.   Any additional information                       15.   Name of contact and telephone number for queries
      This publication refers to                             Mrs Hoechendorfer                       
      SS 25 WpHG (German law)                                0049-89-3800 2958 

16.   Name and signature of authorised company official responsible for making this notification

      Date of notification May 8, 2003                       ____________________

Company Announcements Office, Old Broad Street, London EC2N 1 HP
Facsimile: 020 7588 6057, 020 7334 8964/8965/8966 (PLEASE DO NOT POST)
Enquiries: Company Monitoring and Enquiries; UK Listing Authority

   Short Name: Allianz AG
   Category Code: DCC
   Sequence Number: 00004596
   Time of Receipt (offset from UTC): 20030507T154949+0100

    --30--mh/uk*

    CONTACT: Allianz AG

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

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