MEDIA RELEASE
For Immediate Release

Great Eastern Life Assurance (China) Co Ltd establishes Branch Office in Sichuan

Singapore 18 January 2010: Great Eastern Life Assurance Co Limited's joint-venture company in China, Great Eastern Life Assurance (China) Company Limited (GELC) has launched its Sichuan Branch Office. The official opening ceremony was held this morning at the Shangri-La Hotel in Chengdu. More than 200 people, including Associate Professor Koo Tsai Kee, Minster of State (Defence), Singapore, Sichuan Province Government Vice Chief Secretary, Mr Li Jiaguo, Chongqing Municipal Government Vice Chief Secretary, Liao Qingxuan and corporate representatives from Singapore, Sichuan and Chongqing attended.

GELC is a joint-venture between Great Eastern Life Assurance Co Ltd and Chongqing Land Properties Group. It is the only foreign joint-venture life insurance company headquartered in the western region of China.

GELC provides life, healthcare and accident insurance for both individuals and corporations. The opening of the Sichuan branch Office is in line with the Company's overall development strategy to penetrate the various parts of China in stages. This branch office is the first provincial branch outside Chongqing and the Company plans to establish five to six provincial branches by 2012.

Great Eastern is the largest life insurance group in Singapore and Malaysia with a history of more than 100 years. It is also renowned for its outstanding products, as well as trustworthy and excellent service. GELC Sichuan branch office will leverage on all this to provide quality and comprehensive life insurance products and services to the people in Sichuan. This will in turn contribute towards Sichuan's economic and social development. GELC Sichuan branch office will also benefit from the support it receives from its headquarters in Chongqing, as well as the synergies between the two joint-venture partners.

With the positive economic outlook and Great Eastern's expertise, GELC is set to grow and prosper. Its mission is ""to provide peace of mind for the middle-income Chinese", and its vision is to be a leading foreign life insurance company. The opening of GELC Sichuan branch office is a pivotal stepping stone for GELC to realise this vision.

Commented Mr Ng Keng Hooi, Group CEO, Great Eastern Holdings, "Our aspiration is to grow Great Eastern into an Asian MNC, and in that regard, China is a key market for us. In 2008, the total gross life insurance premiums in Sichuan Province amounted to 38.5 billion Yuan. Last year, the figure grew to over 40 billion Yuan about 5.2% of the national market share, making Sichuan Province the eighth largest market in China for the life insurance business. The population in Sichuan Province is about 87 million, with another 33 million in Chongqing. With the opening of our Sichuan branch Office in Chengdu, GELC will now have access to a market with over 110 million population base. We are well-positioned to tap this huge potential and grow our business in China. It will take some time but we are here for the long term."

Background Information
Great Eastern Life Assurance (China) Company Limited (GELC) is a joint venture life insurance company by Great Eastern, Singapore and Chongqing Land Properties Group. It is the first life insurance company headquartered in the western region of China, Chongqing, approved by the China Insurance Regulatory Commission (CIRC). GELC provides life insurance, healthcare and accident insurance for individual as well as groups. GELC will act as a bridgehead for Great Eastern's continuous development in China.

Since its launch, GELC has been importing advance insurance knowledge and management models from overseas. To serve the public, it focuses on strengthening its product and market development, customer service and attracting talents. It achieved great results in its operations management, business development and risk management. With the dynamic to grow, a more solid foundation, a mature business management and sound internal control system, GELC's has been growing rapidly over the years. On 11 May 2009, GELC received approval from the China Insurance Regulatory Commission (CIRC) to set up its Sichuan preparatory. On 31 December, 2009 CELC commenced operations after receiving approval from the CIRC and other regulatory authorities. _______________________________________________________

About Great Eastern
Founded on 26 Aug 1908, Great Eastern Life Assurance Co Ltd is the oldest and most established life insurance company in Singapore and Malaysia. In Nov 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 Dec 2000. Today, Great Eastern is the largest insurance group and the market leader in Singapore and Malaysia, with $45 billion in assets and 3.8 million policyholders, and with two successful distribution channels - the tied agency force and bancassurance. The Company also operates in China, Indonesia, Vietnam and Brunei.

Great Eastern is a subsidiary of OCBC Bank, Singapore’s longest established local bank with assets of $181 billion and a network of more than 480 branches and representative offices in 15 countries and territories. Great Eastern’s subsidiary, Lion Global Investors, is one of the largest asset management companies in Southeast Asia.

For more information, please contact:

Margaret Lim
AVP Corporate Communications
Great Eastern Life Assurance Co Ltd
Tel: 6248 2103 (DID)/ 97353347 (Mobile)
or email: margaretlim@lifeisgreat.com.sg