Half Year 2008 Earnings Release

Half Year 2008 Earnings

Positive Underlying Earnings growth

• Underlying Earnings up +7% to €2,766million
• Adjusted Earnings down -1% to €3,290 million
• Net Income down -29% to €2,162 million

Stable total revenues

• Life & Savings New Business Volume down -6% to €3,611 million
• Property & Casualty revenues up +2% to €14,519 million
• Asset Management revenues down -3% to €2,102 million

Positive net inflows

• Life & Savings net inflows: +€6.2 billion
• P&C net new personal contracts: +551,000
• Asset Management net inflows: +€2.2 billion

Very strong financial strength

• Solvency I at 148%
• Solvency II (QIS4) at ca. 175%