MEAG acquires 19% of the Chinese Asset Manager PAMC

MEAG MUNICH ERGO AssetManagement GmbH, asset manager of the Munich Re
Group, has acquired 19% of the PICC Asset Management Company Ltd. (PAMC) of Shanghai.

General manager of PICC Holding, Tang Yunxiang and CEO of MEAG, Dr. Thomas Kabisch, jointly signed the contract on July 25, 2006 in Peking. The purchase remains subject to approval by Chinese authorities.

Besides MEAG, PICC Holding will hold shares in PAMC with 41% in damage- and accident insurance and PICC P&C 20%. PICC Health Insurance and Life Insurance will each hold 10%.

Additional information will be made available by MEAG, following the approval and entry of the share hold by Chinese authorities.

About MEAG:
MEAG MUNICH ERGO AssetManagement GmbH is based in Munich and the asset manager
of Munich Re and ERGO Insurance Group. Incorporating offices in New York and Hong Kong
MEAG is a global player. MEAG is managing assets within the Munich Re Group as well as
doing business with partners outside of the Munich Re Group. Currently, MEAG is managing
assets of about €180 billion.


Munich, July 26th 2006

Contact:
Dr. Josef Wild
Phone: 089 | 2489 – 2072
Fax: 089 | 2489 – 2075
E-mail: JWild@meag.com