December 20, 2011

Extraordinary announcement by CIG Pannónia Life Insurance Plc. on a company belonging to its scope of interest

CIG Pannónia Life Insurance Plc. (registered seat: H-1033 Budapest, Flórián tér 1.; company registry number: Cg.01-10-045857; hereinafter: the “Company”) hereby notifies its Esteemed Shareholders and capital market players that the Pannónia Investment Service Provider Private Company Limited by Shares (H-1072 Budapest, Nyár utca 12., hereinafter: the “Investment Service Provider”), established together with the Pannónia Pension Fund, within the scope of their agreement on strategic co-operation, was granted the license necessary for the commencement of its activity by the Hungarian Financial Supervisory Authority (hereinafter: the “HFSA”) in its resolution number EN-III-50273/2011.

The HFSA authorized the Investment Service Provider to offer portfolio management investment services specified in Article 5 paragraph (1) section d) of the Act CXXXVIII of 2007 on Investment Firms and Commodity Dealers, and on the Regulations Governing Their Activities (“Investment Act”), covering all financial assets specified in Article 6 of the Investment Act.
Due to the above license, now the Company and Pannónia Pension Fund are both in the position to entrust the Investment Service Provider in accordance with their objectives with the investment management of assets, which will in the future deal with the investment of private and voluntary pension fund assets, life- and non-life insurance reserves, the Company’s equity capital, other intra-group sources and possibly of assets received from external orders.