MEDIA RELEASE
For Immediate Release

A boost for Community Chest and the elderly
Great Eastern pledges $1 million in funds and gives
out red packets to usher in the New Year with residents
at AWWA Community Home

Singapore, 11 January 2008 – Ninety-six year old Madam Tan Biow received an early festive gift during lunch today in the form of a giant red packet from Great Eastern. A total of 136 residents of the AWWA Community Home for Senior Citizens received customary ‘hong baos’ containing $100 in cash. The event marks the launch of the insurer’s community programme for 2008.

The red packets were presented to residents of the AWWA Community Home by Mr Seng Han Thong, Member of Parliament for Yio Chu Kang Constituency and Mr Michael Wong Pakshong, Chairman of Great Eastern Holdings. Residents also enjoyed performances by Great Eastern’s staff and Life Planners throughout the lunch.

$1 million donation to the Community Chest

The AWWA Community Home for Senior Citizens is one of four beneficiaries of Great Eastern’s wider fund-raising efforts. At today’s event, the insurer announced its commitment to raise $1 million for the Community Chest by 26 August 2008 when it celebrates its 100th Anniversary.

A long-standing partner of Community Chest, Great Eastern has contributed over $8 million to Community Chest since the inception of its ChildrenCare and GoldenCare projects in 1987 and 1993 respectively. For its efforts, the company has been presented with the “Special Events Platinum Award” by the Community Chest for 16 consecutive years.

Mr Michael Wong Pakshong, Great Eastern’s Chairman said, “2008 marks a significant milestone for Great Eastern as we celebrate our Centennial and 100 years of making life great for Singaporeans. We would like to first and foremost remember the less fortunate among us. Through our partnership with Community Chest, the funds raised will continue to support the good work that the many social welfare organisations undertake.”

Great Eastern commenced its fund-raising efforts towards the $1 million target with the Great Eastern Women 10K run and the Great Eastern Charity Lunch (in conjunction with the Singapore Turf Club Charity Race Day) in October and November 2007 respectively. The Company has also recently launched WeCARE Fund to encourage staff and its life planners to contribute $1 every day into a specially-designed coin box. It will also hold its Charity Golf Challenge on 13 April 2008.

The funds raised will ensure that elderly residents from AWWA Community Home for Senior Citizens and Bright Hill Evergreen Home continue to receive aid in living arrangements and rehabilitative programmes. It will also aid children with disabilities in their education and developmental programmes at MINDS Yio Chu Kang Gardens School and Metta School. All four programmes are part of the ChildrenCare and GoldenCare projects offering support to underprivileged children and senior citizens.

Mr P Y Hwang, Vice-Chairman of Community Chest, said, "Great Eastern continues to be a constant partner of Community Chest and a dependable and strong supporter in raising funds for the less fortunate in our midst. Your help has enabled the charities under our care to focus on social service programmes serving 340,000 people. Your generous programme of Corporate Social Responsibility is a great encouragement to us."

Ms Vijayah, Manager, AWWA Community Home for Senior Citizens said, ”The on-going donations and support from companies like Great Eastern enable us to provide the best standard of care for the elderly and to help them live dignified lives. While funding is critical, the warm and tender gesture of spending time to interact with the elderly is also invaluable. We thank the staff of Great Eastern for putting in the many hours of hard work to rehearse and present the performances today, as well as for taking time off from their work to spend time with our elderly residents.”

96 year old Mdm Tan Biow, the oldest resident of AWWA, receives a giant red packet from our Chairman (left)! This is witnesses by MP Seng Han Thong (right).

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About Great Eastern
For the past 100 years, we have grown with you.
As we journey into the next 100 years and beyond, we remain
dedicated to making life great with financial security, good health and meaningful relationships.

Founded on 26 August 1908 by a Canadian, AH Fair, Great Eastern Life Assurance Co Ltd has the distinction of being the oldest and most established life insurance company in Singapore and Malaysia. It began with only 15 staff and assets of $70,000 and was shaped by big names, including Lee Kong Chian, Runme Shaw and SQ Wong. Tan Chin Tuan became Chairman in 1969 during which the Company expanded to become the market leader in the region. The Company continued to strengthen under the chairmanship of Howe Yoon Chong and Michael Wong Pakshong.

In November 1999, Great Eastern Holdings Ltd was incorporated and became the holding company of Great Eastern Life. Overseas Assurance Corporation Ltd, incorporated in 1920 as the first composite insurer in Singapore, merged with Great Eastern Holdings in December 2000.

Today, Great Eastern is the largest insurance group and the market leader in Singapore and Malaysia, with about $46 billion in assets and 3 million policyholders, with two successful distribution channels - the tied agency force and bancassurance.

The Company also operates in China, Indonesia and Brunei, with representative offices in Beijing, Hanoi and Ho Chi Minh City. It will be starting operations in Vietnam by the middle of the year.

Great Eastern is a subsidiary of OCBC Bank, Singapore’s longest established bank with assets of $170 billion and a network of over 460 branches and representative offices in 15 countries and territories. Great Eastern’s subsidiary, Lion Capital Management, is one of the largest asset management companies in Southeast Asia.

Great Eastern is proud to have consistently achieved strong financial performance, and delivered value to its shareholders and customer service excellence to its policyholders. With its core values of integrity, initiative and involvement in the way it manages its business, Great Eastern believes that everyone can enjoy a better quality of life and have peace of mind as a result of sound financial planning. It also believes that leading a healthy lifestyle and cultivating meaningful relationships with family and friends are essential for a fulfilling life.

About Community Chest
Community Chest, a division of National Council of Social Service (NCSS), was founded in 1983 to raise funds for the nation's many social service organisations, relieving them of the burden of fund-raising so they can focus on their primary responsibility of caring for and serving the needy.

Community Chest raises funds on a yearly basis to meet the needs of the social service programmes we help support. Community Chest ensures that fund-raising costs are kept to a minimum. As these costs have been sponsored by Singapore Totalisator Board and Singapore Pools (Private) Limited, every dollar raised by Community Chest will be made available to social service programmes under its care.

For this Financial Year 2007/2008 Community Chest funds 147 social service programmes run by 57 charities to help over 340,000 people in Singapore. All funds raised will go towards our four passions : nurturing children to succeed, keeping families together, dignifying the lives of the elderly as well as empowering people with disabilities to lead independent lives.

For more information, please contact:

Margaret Lim
AVP (Corporate Communications)
Great Eastern Life Assurance Co Ltd
Tel: 6248 2103
Email: margaretlim@lifeisgreat.com.sg

Jasmine Lim
AVP (Corporate Communications)
Great Eastern Life Assurance Co Ltd
Tel: 6248 2203
Email: jasminelim@lifeisgreat.com.sg

OR

Travis Lee
Principal Executive
Corporate Communications
National Council of Social Service
Tel: 6210 2641
Email: Travis_lee@ncss.gov.sg