Press Release

Business Jumped 40% in 2007 for ING Life Hong Kong

ING announced its Hong Kong life business performance figures for 2007, which showed solid results with new premiums recorded at nearly HK$1.1 billion, a 41% increase over the previous year. In Macau, new premium income recorded an overall increase of 44%, reaching nearly HK$30 million.

Overall for 2007, ING's Hong Kong life business reported total premiums of nearly HK$3 billion, an 18% increase over the previous year. In addition, good sales business from investment-linked insurance products has contributed to a 25% growth in the average premium per new policy. Average premiums per policy stood at around HK$52,000, while new policy numbers grew 13% to over 20,000. In Macau, ING also showed stable growth, led by a 28% rise in total premiums to approximately HK$120 million, while new policy average premiums and new policy numbers grew by 29% and 11%, respectively.

Mr M.K. Cheng, Country Manager, HK/Macau, ING Insurance Asia/Pacific, stated, "We have seen brilliant business results in 2007, marked noticeably by the increase in Hong Kong new business. This impressive growth was due to the launch of new investment-linked insurance products in June last year, which was well received by customers. Moreover, both exciting sales generated by front-line agents and bancassurance business contributed significantly to the overall good results. In view of the bank deposit interest rates being adjusted further downward, we expect more customers will actively look for alternative channels for wealth accumulation. Savings insurance, with its low risk and good returns, and investment-linked insurance products will surely have great market potential, thus bringing forth great opportunities for insurance companies."

Mr Cheng also said that ING Life would have a strong focus this year on product design, agent recruitment and expansion of new sales channels. Regarding ING products, the introduction of new investment-linked insurance product- i. Wealth^* - accounted for a remarkable growth in new business premiums for the linked products category, representing nearly 40% of total new premiums in 2007. To meet customers' needs, more fund options and choices in fund houses have been updated recently, with the number of funds available now increasing to 74, and more related products will be launched later. Customised investment-linked insurance products will also be introduced this year to meet the integrated financial needs of Macau customers. Moreover, ING is planning to enhance existing critical illness plans to cope with the increasing need for medical protection.

Additionally, with the plan to recruit over 1,000 agents this year, a series of programmes will be put in place by the Company, such as organising recruiting seminars and other related activities, launching referral and internship programmes and offering competitive remuneration packages and supports to attract quality sales people from different areas. Also, more resources will be invested to improve the professionalism of ING's wealth planners.

In the area of sales channels, the bancassurance business in Hong Kong demonstrated splendid results in 2007, reaching a near 36% rise in new premiums compared to 2006. Last year, strategic collaborations with China Construction Bank (Asia), Public Bank Hong Kong and Public Finance were reached. Through these alliances, ING's life insurance products are now available at branches of its bank partners, which create opportunities for a broader distribution network and potential customers. The Company will actively look for other strategic partnerships, as well as strengthen its cooperation with the network of independent brokers and financial planning companies to further boost business.

* i.Wealth is an investment-linked insurance product offered by ING. This investment-linked insurance product is authorized by the SFC. Such authorization does not imply official approval or recommendation. For exact terms and conditions of the product and details of fees and charges, please refer to the policy contract and Principal Brochure. Investment involves risks. Past performance figures shown are not indicative of future performance. For detailed fund information, please refer to the Fund Options Summary and the prospectuses of the underlying funds.

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