Dynamic profit growth at MLP

• Group profit before tax and disposal result (EBT) climbs by 61 per cent to EUR 82.6 million after nine months
• Additional pre-tax contribution resulting from the sale of the insurance subsidiaries totals EUR 140.5 million
• Total revenues fall by 5 per cent to EUR 348.3 million without insurance subsidiaries
• Q3: Brokerage business exceeds last year’s high level
• EBT forecast for the year increased to EUR 110 million

Heidelberg, 22nd November 2005 – The Heidelberg based financial services company MLP announces successful results for the first nine months of the 2005 business year. The profit before tax and disposal result (EBT) climbed by 61 per cent over last year to EUR 82.6 million (EUR 51.4 million). Group net profit increased by 62 per cent to EUR 50.2 million (EUR 31.0 million), not including the sale of both insurance subsidiaries. Including profits from the sale (EUR 124.6 million), net profit totals some EUR 174.8 million. Total revenues have, as forecast, fallen slightly by 5 per cent to EUR 348.3 million (EUR 365.0 million). Revenues from the insurance subsidiaries, MLP Lebensversicherung AG and MLP Versicherung AG, which have both been sold, are not included in the total revenue figure.

The months between July and September were the most successful this year to date for MLP. Excluding the sold insurance subsidiaries, total revenues clearly surpass those of last year with EUR 127.5 million (EUR 121.2 million) for the first time in 2005. The brokerage business included in MLP Finanzdienstleistungen AG reported by far the largest part of total revenues. Revenues in this area climbed in Q3 to EUR 105.1 million (EUR 102.6 million). MLP has posted a clear rise of 15 per cent over Q2 2005 (EUR 91.6 million). Revenues have declined over a nine month period by 8 per cent to EUR 286.4 million (EUR 312.0 million). Pre-tax profit from continued operations totals to EUR 17.0 million in Q3 and exceeds the last year's figure by 23 per cent (EUR 13.8 million). Profit before tax almost doubled compared to Q2 2005 (EUR 8.6 million).

Pre-tax profit (EBT) in the Consulting and Sales segment has also seen a very pleasing trend. In the first nine months of 2005, MLP posted a decline of 26 per cent to EUR 33.3 million (EUR 44.7 million). However, pre-tax profit climbed by 7 per cent in Q3 to EUR 16.6 million compared with EUR 15.6 million in Q3/2004. Negative profit contribution from foreign business activities totalled EUR 4.4 million (EUR 3.5 million).

In the Life Insurance segment profit before tax (EBT) rose from EUR 16.1 million to EUR 42.4 million over the nine-month period. The same applies at MLP Versicherung AG, which contributed 22 per cent more to the Group profit before tax and disposal result over last year with EUR 5.0 million (EUR 4.1 million). Profit before tax at MLP Bank fell by 27 per cent to EUR 4.7 million (EUR 6.5 million).

MLP completed the sale of both subsidiaries MLP Lebensversicherung AG and MLP Versicherung AG at the end of September. Disposal result from the sale totals EUR 144.4 million in Q3 and EUR 140.5 million for the first nine months of 2005, since sales expenditure in Q2 amounting to EUR 3.9 million have taken effect. Further profit contributions resulting from the sale are linked to business development until the year 2008 and must therefore be posted in stages.

Due to the positive development seen over recent months MLP is confident for the rest of the year. Although Q4 will be mainly affected by the last few weeks of the year, the management still sees sufficient scope to increase the forecast for the year as a whole from EUR 100 million to EUR 110 million pre-tax profit. This does not include the profit contribution resulting from the sale of the insurance subsidiaries.

MLP will publish further details concerning third quarter results tomorrow, Wednesday, 23rd November 2005.