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A Brief Introduction to
The Ming An Insurance Co., (H.K.) Ltd.

The Ming An Insurance Company (Hong Kong) Limited (the “Company” or “Ming An Hong Kong”) was incorporated in Hong Kong in 1949. It is a member of the China Insurance Hong Kong (Holdings) Company Limited ("CIHK"). The Company's sound financial standing, prudent underwriting philosophy and well-established creditability have firmly established itself as a major insurance company in Hong Kong. To accelerate sustainable development of core insurance business of CIHK, the general insurance business of Ming An Hong Kong, China Insurance Company Limited Hong Kong Branch ("CIC") and the Tai Ping Insurance Company Limited Hong Kong Branch ("Tai Ping") were integrated. With the approval of the Insurance Authority of Hong Kong, the general insurance business of CIC and Tai Ping were transferred to Ming An Hong Kong on 1 March 2001. After the integration, Ming An Hong Kong has combined the extensive resources of the three companies. As a result, the Company had strengthened its competitiveness and scale of operation. The significant presence of the Company in the insurance market had reached a new level. Gross written premiums increased by 25.1% to HK$1,346 millions in 2007 as compared with 2006. It placed the company as one of the major general insurance companies in Hong Kong.

On 30 June 2006, CIHK and Ming An Hong Kong entered into the Cheng Kong S&P Agreement with Cheung Kong (Holdings) Limited (“Cheung Kong”) and a separate sale and purchase agreement with China Insurance International Holdings Company Limited (“CIIH”). Pursuant to such agreements, on 7 September 2006, Cheung Kong and CIIH purchased approximately 29% and 4.9% of the issued ordinary shares of Ming An Hong Kong respectively. On 5 September 2006, The Ming An (Holdings) Company Limited (“Ming An Holdings”) was incorporated in the Cayman Islands. On 29 November 2006, the entire issued ordinary shares of Ming An Hong Kong were separately transferred by aforesaid shareholders to Ming An Holdings. Ming An Holdings became the holding company of Ming An Hong Kong thereafter and successfully listed on the main board of The Stock Exchange of Hong Kong Limited on 22 December 2006 with stock code 1389.

The Company established its Shenzhen Branch and the Haikou Branch in 1982 and 1988 respectively. In May 2004, the Company obtained approval from the China Insurance Regulatory Commission (“CIRC”) to restructure its Shenzhen Branch into a wholly owned subsidiary, Ming An Insurance Company (China) Limited ("Ming An China"). Ming An China Obtained the business license and commenced business in the People’s Republic of China (the “PRC”) in January 2005, and the business of the Shenzhen Branch of the Company was transferred to Ming An China. We believe that, in May 2006, Ming An China became the first and only general insurance company with foreign capital incorporated in the PRC to receive approval from CIRC to operate as a domestic insurance company. It allows Ming An China full access to the PRC insurance market, and Ming An China is permitted to engage in the full spectrum of general insurance products and services. CIRC has introduced “Regulations for Compulsory Traffic Accident Liability Insurance of Motor Vehicles” on 1 July 2006, and Ming An China received authorization from CIRC as one of the 22 insurers to provide Compulsory Motor Traffic Accident Liability Insurance in the PRC in June 2006. As at the end of 2007, Ming An China had established ten provincial branches in Beijing, Shandong, Jiangsu, Zhejiang, Shanghi, Hebei, Ningbo, Hainan, Guangdong and Shenzhen. Ming An China has obtained approval from CIRC to open eight more provincial branches in the PRC, and we expected to set up the new provincial branches in 2008. These new provincial branches will be located in Hubei, Anhui, Liaoning, Tianjing, Henan, Sichuan, Hunan and Fujian. Meanwhile, the number of sub-branches is expected to reach around sixty until the end of 2008.

For more than half a century, Ming An Hong Kong has established reinsurance business relations with over 100 insurers and reinsurers across twenty countries and regions (including China Reinsurance Company, Munich Reinsurance Company and Swiss Reinsurance Company). Besides, Ming An Hong Kong has business relationships with over 4,000 insurance agents, 300 insurance brokers and insurance consultant companies in Hong Kong. The extensive marketing network, deep penetration across market segments will greatly contribute to the business development of the Company. To further promote the prosperity and growth of the Shenzhen and Hong Kong insurance markets, the Company entered into agency agreements with one hundred Hong Kong insurance agents, who had obtained professional insurance agent qualifications in the Mainland of China, in 2004 and 2006 respectively. They became the first group of insurance agents to conduct business in the Mainland of China under the framework of Closer Economic Partnership Arrangement (CEPA).

Ming An Hong Kong has served Hong Kong through the provision of general insurance services, which includes Property Insurance, Employees' Compensation Insurance, Group Medical Insurance, Fidelity Guarantee Insurance, Contractor's All Risks Insurance, Erection All Risks Insurance, Motor Vehicle Insurance, Cargo Insurance, Hull Insurance, Transport Liability Insurance, Aerospace Insurance, Cash Insurance, Accidental Emergency Medical Insurance, Travel Insurance, Personal Accident Insurance, Student Personal Accident Insurance, Household Insurance, Domestic Helper Insurance Package, Incorporated Owners Committee Package Insurance, Products Liability Insurance, Professional Liability Insurance, Computer Insurance and Golf Insurance, etc..

To meet new demands and keep abreast of rapid developments in the insurance market, Ming An Hong Kong has put special emphasis on the need to innovate and improve its insurance services. In 1996, approval was obtained from the Health Department of Guangdong Province for Ming An Hong Kong to launch its pioneering new product: the "Accidental Emergency Medical Card". This emergency card initiative revolutionized the process of obtaining medical treatment in China: in lieu of a cash deposit, the insured simply presented the card at any of Guangdong's government hospitals and clinics to obtain immediate medical assistance. The emergency card quickly gained a huge number of advocates amongst residents of Hong Kong, Macau, Taiwan traveling to the mainland. Support for this vanguard initiative quickly snowballed and by early 1998, the Company has been authorized by China's Ministry of health to extend coverage of the card to the entire country. At the end of 2007, the company launched “Mingan Travel Insurance Card” to introduce a new way to purchase and effect travel insurance. The attributes like convenience and flexibility attract great attentions and interests from customers who travel frequently. In order to satisfy the even-changing customer needs, consolidate the existing achievements and strengthen the competitive advantage, Ming An Hong Kong strives to broaden the sales channels and strengthen cooperation with banks and life insurance companies by cross-selling the insurance products. Moreover, Ming An will focus on innovating personal line products as well as providing tailor-made insurance products to satisfy individual customers' needs.

To encourage the sustainable business development and differentiate ourselves from the competitors, the Company carried out a range of initiatives to recruit, train and retain valuable personnel so as to optimize the performance of our professional management team.

By leveraging its renowned reputation, professional knowledge and extensive country-wide sales network, Ming An Hong Kong is poised to seize expansion opportunities as they present. Ming An Hong Kong and Ming An China will adhere to CIHK's management philosophy that stresses "Diligent Management, Sincere Service", and will continue to "Pursues for Excellence and Innovation" and to build its legacy of developing this country's insurance sector by providing superior insurance services and products. The Company is determined to contribute to the future expansion of the Hong Kong and China insurance industry, and to establish a distinctive Chinese insurance brand name.