MLP clearly increases pre-tax profits

Heidelberg, 16th August 2005 – The preliminary pre-tax operating results (EBT) for the MLP Group including MLP Lebensversicherung AG and MLP Versicherung AG total some EUR 32.3 million in Q2 2005, representing more than twice the result posted for the same period last year of EUR 15.8 million.

The consolidated Q2 net profit is forecast for between eight and nine million euros (cf. EUR 9.6 million in Q2 2004). This figure includes deferred taxes resulting from the sale of MLP Lebensversicherung AG and MLP Versicherung AG. The sale proceeds cannot be posted until Q3 following the probable completion of the transaction in mid-September.

The brokerage business, which is grouped under MLP Finanzdienstleistungen AG, has developed positively in Q2, although it still, as forecast, lies lower than figures for last year. The profit from the business divisions from which MLP will be separating (MLP Lebensversicherung AG and MLP Versicherung AG) as part of its move to focus more on core business activities is, by contrast, much higher in Q2. This can largely be attributed to the development in the life insurance business segment. In comparison with the first half-year 2004 higher premium income from the year-end business 2004 and a better risk result led to much higher profits in this area.

MLP will be publishing detailed figures for Q2 2005 on 24th August.