PING AN-UOB FUND Obtains Regulatory Approval

30, December, 2010, Shanghai, Hong Kong - Ping An Insurance (Group) Company of China Ltd (hereafter referred to as China Ping An', Ping An' or the Group', stock code: SSE 601318 HKEX 2318) today announced that after over 2 years of careful preparation, PING AN-UOB Fund Management Company Limited (hereafter referred to as PING AN-UOB FUND') obtained regulatory approval from the China Securities Regulatory Commission on 29, December and will soon be established, after completing the formal commercial registration. It will become the 63rd officially approved fund management company to be established in mainland China. The approval of PING AN-UOB FUND gives China Ping An a more complete range of investment services and perfects the integrated financial services framework of China Ping An.
PING AN-UOB FUND is a subsidiary of Ping An Trust Company Ltd (hereafter referred to as Ping An Trusts') and a joint venture with UOB Asset Management Ltd (hereafter referred to as UOBAM') and Sanya Yingwan Tourism Co., Ltd Co Ltd (hereafter referred to as Sanya Yingwan'). Together, they have sponsored the establishment of a joint venture fund company headquartered in Shenzhen with a registered capital of RMB300 million, which is currently the highest registered capital of other funds management company in China. Among them, Ping An Trusts holds 64% of the shares, while UOBAM and Sanya Yingwan hold stakes of 25% and 11%, respectively. On the one hand, the abundant registered capital of the funds company reflects the strength and confidence of the shareholders, while on the other hand it lowers the risk for the JV company and provides a strong support for business expansion.
Key positions within PING AN-UOB FUND, such as the core management team as well as positions in investment research, marketing, regulation and auditing, fund operations, and information technology have already been filled. Miss Yang Xuli, who has over 22 years of management experience in the financial and securities industry and previously served as chairman of the board and general manager of Ping An Securities, has taken up the post of Chairman of the Board. The position of General Manager of PING AN-UOB FUND has been filled by Mr. Li Kenan. Li Kenan has almost 10 years of management experience in the funds industry and has extensive experience in leading a team to carry out investment research, product design and innovation, and marketing channels.
Li Kenan, says that, as an asset management company which provides clients with professional investment services, PING AN-UOB FUND will follow the managerial concepts of playing by the rules, being honest, maintaining professionalism, and striving towards innovation' and is determined to support its investment philosophy of research creates value' while building a platform for the integration of scientific research and a rigorous risk control system. In the future, PING AN-UOB FUND will continue forward with a foundation of stable investment performance and continue to enrich and perfect client service methods and service content. The company will also provide investors with a wider variety of fund investment products, high quality household financial services, Win the trust through professional strength, and be a trustworthy funds management company with a highly professional spirit that investors trust.
The official approval of PING AN-UOB FUND is of major significance to the three main lines of Ping An's investment services. It will further enrich the Group's investment products, enhance its capability to provide comprehensive services, provide clients with more diversified products and services, further improve the contributions of investment to the profits of the Group as a whole, and achieve a better balance in the development of the three areas. In the future, Ping An Group will give strong support to the construction of the PING AN-UOB FUND business platform, provide leading reinforcement with platform development experience and, at the same time, share expertise in fields including staff training, risk evaluation, and client services in order to help them become one of the most professional fund companies in China. In terms of specific operations and business, PING AN-UOB FUND will remain independent from other Ping An companies.
The Chairman of UOB Asset Management, Mr. Terence Ong Eng Sea, said that over the years, UOB Asset Management became well established in Asia, and continues to open regional offices and forge partnerships with many industry leaders. Forming this joint venture fund management company in China together with Ping An and Sanya Yingwan is a symbol of the success of UOB Asset Management in their regional expansion efforts and has accelerated the entry of UOB Asset Management into the China market. In the future, UOB Asset Management will provide joint venture funds companies with a wealth of experience which stems from over 20 years of experience of developing regional asset management businesses, access to global investment research, and product development.

About Ping An
Ping An was the first joint venture insurance company in China. It has already developed into an integrated, compact, multi-functional financial services group with services that include financial insurance, banking, and investment. As of 30th September 2010, the Group's total capital has reached RMB1099.201 billion, with net assets worth RMB116.14 billion, and has over 56 million retail clients as well as more than 2 million corporate clients. The company was ranked number 466 in the 2010 Forbes Global 2000, was included in the Financial Times Global 500, and was ranked number 383 in Fortune Magazine's Global 500 Leading Companies'. In the field of financial investment, Ping An's securities, trusts, and asset management subsidiary firms are leaders in their areas of expertise by virtue of their professional excellence. The establishment of PING AN-UOB FUND makes Ping An investment services more complete and serves to perfect the framework of Ping An's integrated financial services.
For more information, please visit Ping An's official weibo page: http://t.sina.com.cn/pingan / http://t.qq.com/pinganor or Ping An's company website http://www.pingan.com.cn/.
About UOB Asset Management
UOB Asset Management was established in 1986 as the asset management company of Singapore United Overseas Bank. It now has one of the largest investment research teams in Singapore with more than 24 years of experience in asset management and investment research. As one of the asset management companies which has received the most awards in Asia, UOB Asset Management was awarded the prestigious Best Fund Group (overall)' prize at the Singapore Lipper fund awards for two consecutive years in 2008 and 2009. Back in November 2008, UOB Asset Management was approved by the China Securities Regulatory Commission (CSRC) and obtained the status as a qualified overseas institutional investor.