Picc Prop & Casualty : ANNOUNCEMENT IN RELATION TO PREMIUM INCOME

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(a joint stock limited company incorporated in the People's Republic of China with limited liability)

(Stock Code: 2328)

ANNOUNCEMENT IN RELATION TO PREMIUM INCOME

Reference is made to the announcement of PICC Property and Casualty Company Limited (the "Company") dated 27 August 2004. The direct premium income of the Company for the year ended 31 December 2011 was RMB173,372 million, such information will be released on the official website of China Insurance Regulatory Commission at www.circ.gov.cn. The above information is prepared pursuant to the PRC Accounting Standards for Business Enterprises and is unaudited and has not been reviewed by the Audit Committee of the Company. Investors should exercise caution not to unduly rely on such information.

Beijing, the PRC, 18 January 2012

By Order of the Board Zhang Xiaoli Secretary of the Board

On the date of this announcement, the Chairman of the Board is Mr. Wu Yan (executive director), the Vice Chairman is Mr. Wang Yincheng (executive director), Mr. Guo Shengchen and Mr. Wang He are executive directors, the non-executive directors are Mr. Zhou Shurui, Ms. Yu Xiaoping, Mr. Li Tao and Mr. Tse Sze-Wing, Edmund, the independent non-executive directors are Mr. Luk Kin Yu, Peter, Mr. Ding Ningning and Mr. Liao Li.

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