MLP confirms its preliminary results for 2008

• Release of the annual report
• Total revenues of EUR 597.7 million almost reach the record level of the previous year despite the financial market crisis
• High financial strength – liquid funds climb to EUR 210.1 million
• Dividend: distribution ratio increases significantly

Wiesloch, 26th March 2009 – In its annual report released today, MLP confirmed the preliminary results for the financial year 2008 announced in February. In the financial year 2008, the independent financial services and wealth management consulting company MLP achieved total revenues amounting to EUR 597.7 million, thereby almost reaching the record level of the previous year in spite of the extensive financial market crisis (2007: EUR 629.8 million). Earnings before interest and taxes (EBIT) were burdened by several one-off effects and fell to EUR 56.6 million (EUR 113.9 million). Net profit from continuing operations declined accordingly from EUR 77.5 million to EUR 31.1 million. Liquid funds rose significantly to EUR 210.1 million (EUR 155.8 million).

The Executive and Supervisory Boards are proposing a dividend of 28 cents per share for approval at the Annual General Meeting. This raises the distribution ratio to nearly 100 percent of net profit from continuing operations. “In this challenging environment, our dividend proposal emphasizes our excellent financial strength as well as the attractive future prospects for MLP,” comments Chief Executive Officer, Dr. Uwe Schroeder-Wildberg.

EBIT performance was burdened by several one-off effects, the largest of which amounted to EUR 6 million and related to gearing-up expenses for the requirements of the new Insurance Contract Law. A further EUR 2.5 million was allocated to a writedown on a rented office building as well as EUR 3.8 million for a tax accrual. Furthermore, the previous year had included a one-off effect amounting to EUR 4 million resulting from the sale of the funds database business of the subsidiary Feri.

In view of the ongoing financial crisis and the global recession, the framework conditions remain very challenging. With due vigilance, MLP remains cautiously optimistic for 2009. “We aim to outperform the market,” comments Andreas Dittmar, Head of Finance. At the same time, MLP is systematically reducing its costs, among other things through savings on administrative expenses. This will reduce the cost base in the financial year 2009 by EUR 12 million; further savings amounting to 10 million euros are planned for the financial year 2010. In addition, previous one-off costs of 12 million euros will not be incurred in 2009.

Overview of the key figures

Continuing operations* (in EUR million)	Q4/ 2008	Q4/ 2007	Change in %	12 months 2008	12 months 2007	Change in %
Revenues	174.9	211.1	-17	554.8	588.2	-6
Revenues from commissions and fees	164.2	201.6	-19	514.0	554.1	-7
Interest income	10.6	9.5	12	40.8	34.1	19
Other revenues	14.9	13.2	13	42.9	41.6	3
Total revenues	189.8	224.3	-15	597.7	629.8	-5
Profit from operation (EBIT)	17.1	56.6	-70	56.6	113.9	-50
Profit before tax (EBT)	16.6	55.2	-70	47.1	110.1	-57
Net profit	11.9	38.0	-69	31.1	77.5	-60
Earnings per share (diluted) in EUR	0.11	0.38	-71	0.30	0.77	-61
Clients				730,000	703,000	4
Consultants				2,428	2,549	-5

*) The subsidiary in Austria is treated as a discontinued operation.