Ping An expects FY2007 net profit to increase by more than 100%

Ping An expects FY2007 net profit to increase by more than 100%

Hong Kong, 28 January 2008 Ping An Insurance (Group) Company of China, Ltd. (hereinafter referred to as Ping An or the Group , HKEX: 2318; SSE: 601318) today announced an anticipated substantial increase of net profit for FY2007, which is, expected to be over 100% from that of last fiscal year, based on the PRC Accounting Standard.

Ping An continued to record steady growth in all its three core businesses of insurance, banking and asset management in 2007. The expected growth of over 100% in net profit is primarily attributable to the rise on investment returns, continued growth in insurance premium, as well as a significant increase of profits contribution from banking, securities and asset management.

The announcement also revealed that the Group s net profit for FY2006 is restated to RMB7,342 million, when applied the new accounting standard issued in 2006 by the Ministry of Finance, and earnings per share to RMB1.19, based on total number of shares outstanding prior to A-Share listing. The detailed relevant financial results for FY2007 will be released in the upcoming full year earnings announcement.

Over recent years, Ping An has maintained strong growth outperforming the market measured in all industry parameters, and has been consistently striving to optimize its profit structure. With the introduction of the state of the art back-office operation centre, the Group has further demonstrated its edge as a comprehensive financial services platform benefiting hugely from product cross-selling.

Insurance, as the Group s core business, has enjoyed sustained growth, whilst banking and asset management businesses have expanded in exponential speed, with profit contribution steadily improving.

Ping An comments that the Group has maintained strong fundamentals, with a solid foundation, prudent accounting practices and a clear strategy that enable strong growth propulsion. Looking ahead, the financial and insurance industry of China is expected to maintain its growth momentum and offer numerous opportunities for further development. Ping An will seize the opportunity that come to light to expedite both organic and external growth and accelerate business strategy implementation.