Ping An Appoints Heads of Financial Business and Insurance Business

Ping An Appoints Heads of Financial Business and Insurance Business

Company Takes Further Step towards a Leading Financial Conglomerate

(Shenzhen, March 2, 2006) Ping An Insurance (Group) Company of China, Limited ( Ping An or the Group ), (HKEX: 2318) today announced the appointments of Mr. Dominic Leung as the Head of Insurance Business, and Mr. Richard Jackson as the Head of Financial Business. These appointments reinforce an already strong management team with significant international experience and will enable Ping An to take yet another step towards becoming a leading global financial conglomerate.

We are very pleased to announce these appointments, commented Mr. Sun Jianyi, Executive Vice President of Ping An. Our objective in promoting these individuals is to establish a clearer business management framework for the Group, enhance business integration, further improve the integrated financial services and build a more effective system for cross-selling. We believe these new appointments and our continued business integration will help streamline our business structure and help pave the way towards becoming a leading global financial conglomerate.

Mr. Dominic Leung joined Ping An in January 2004. Prior to this new appointment, he was the Chairman and Chief Executive Officer of Ping An Life Insurance Company of China Limited. Mr. Leung will be in charge of the property & casualty insurance, life insurance, annuity insurance, health insurance and other insurance-related businesses. His main duties will be to develop and implement the strategy for the Group s insurance business as well as promote the overall development of the business in line with its overall development strategy.

Mr. Richard Jackson, who joined Ping An in October 2005, is a Fellow of the Chartered Insurance Institute and a veteran of the banking and insurance industries. As the Head of Financial Business, Mr. Jackson will be in charge of the banking business of Ping An Group and will be responsible for the planning and development of banking strategies, the daily management of operations at Ping An Bank and the establishment of an international and professional management team for the banking business.

Background Information

Mr. Richard Jackson, 49, is a banker from the UK. He has had extensive overseas working experience in Hong Kong, Korea, Hungary and Poland. During an extensive career at Citigroup, he served as Head of International Business for Citicorp Insurance International, Financial Institutions Head for Asia Pacific, Chairman and CEO of Citibank Hungary, Director of Bank Handlowy in Poland and Country Manager and Consumer Business Head of Citibank Korea.

Mr. Leung Ka Kui, Dominic, 57, has been Chairman and Chief Executive Officer of Ping An Life Insurance Company of China, Ltd. since he joined Ping An in January 2004. Prior to his current position, he worked at Prudential Corporation Asia Ltd. as the Managing Director of Greater China. Mr. Leung was also the Vice President of American International Assurance Company, the General Manager of Taiwan Nashan Life Insurance Company Ltd, and President of the Greater China Region of Prudential PLC (UK). He is currently the Chairman of Ping An Life.

About Ping An Insurance (Group) Company of China, Ltd.

Ping An was founded in 1988 and is based in Shenzhen. Growing from a core business of insurance, Ping An has turned itself into a close-knit, efficient and diversified financial holding group that has integrated securities, trust and banking services. Ping An is a listed company on the main board of the Hong Kong Stock Exchange under the name Ping An of China with the stock code 2318 .

In its seventeen year history, Ping An has turned itself into one of the most recognized brands in the PRC and an overseas-listed company with great international reputation. The Company has developed an extensive customer base in the PRC and is one of the few Chinese financial institutions that has a financial service conglomerate platform.