09:51     PING AN<02318> - Announcement (3)                                   

    customers a broad range of financial products and services under one      
    band, Ping An Securities is one of the significant operating              
    subsidiaries of the Company which provides securities services.           
    Accordingly Ping An Trust agreed to contribute the additional capital     
    only by itself while the other existing shareholders of Ping An           
    Securities would not contribute the additional capital due to their own   
    commercial consideration. The amount of the additional capital            
    contribution of RMB300 million is determined after taking into account    
    of the following factors:                                                 
                                                                              
    (i)  Pursuant to the relevant PRC securities regulations, the value of    
    shares underwritten by a securities company in an issue of shares shall   
    not exceed certain percentage of its net capital. Accordingly the         
    increase of registered capital of Ping An Securities will enable Ping     
    An Securities to act as an underwriter in larger offers of shares and     
    thus strengthen its operation.                                            
                                                                              
    (ii)  Pursuant to the relevant PRC securities regulations, the            
    aggregate shareholding in a PRC securities company owned by foreign       
    investors shall not exceed one third of the total capital of the PRC      
    securities company. After the completion of the Capital Increase          
    Agreement, as Ping An Securities will be a 80.17% owned subsidiary of     
    the Company, the registered capital of Ping An Securities which are       
    indirectly interested by the holders of H Shares of the Company           
    (holding approximately 41.30% of the total issued share capital of the    
    Company) will approximately be one-third of its registered capital.       
                                                                              
    There will not be any change in the management of Ping An Securities      
    after the completion of the capital increase under the Capital Increase   
    Agreement.                                                                
                                                                              
    DEFINITIONS                                                               
                                                                              
    "Board"  the board of directors of the Company                            
                                                                              
    "Company"   Ping An Insurance (Group) Company of China, Ltd., a joint     
    stock limited company established in the PRC, the H shares of which are   
    listed on the Stock Exchange                                              
                                                                              
    "Capital Increase Agreement"  an agreement dated 4 April, 2005 entered    
    into between Ping An Trust and Ping An Securities in respect of the       
    increase of registered capital of Ping An Securities                      
                                                                              
    "Stock Exchange"  The Stock Exchange of Hong Kong Limited                 
                                                                              
    "Listing Rules"  The Rules Governing the Listing of Securities on the     
    Stock Exchange                                                            
                                                                              
    "New Horse Development"  Shenzhen New Horse Investment Development Co.,   
    Ltd., one of the promoters of the Company which holds approximately       
    6.29% of the issued share capital of Company and a substantial            
    shareholder of Ping An Securities                                         
                                                                              
    "Ping An Life"  Ping An Life Insurance Company of China, Ltd., a 99.00%   
    owned subsidiary of the Company established in the PRC                    
                                                                              
    "Ping An P&C"  Ping An Property & Casualty Insurance Company of China,    
    Ltd., a 99.00% owned subsidiary of the Company established in the PRC     
                                                                              
    "Ping An Trust"  China Ping An Trust & investment Co., Ltd., a 99.26%     
    owned subsidiary of the Company established in the PRC                    
                                                                              
    "Ping An Securities"  Ping An Securities Company, Ltd., a 74.44% owned    
    subsidiary of the Company established in the PRC                          
                                                                              
    "PRC"  The People's Republic of China                                     
                                                                              
    "RMB"   Renminbi, the lawful currency of the PRC.                         
                                                                              
    By order of the Board                                                     
    Ma Mingzhe                                                                
    Chairman                                                                  
                                                                              
    Shenzhen, PRC, 4 April 2005                                               
                                                                              
    As at the date of this announcement, the executive directors of the       
    Company are Ma Mingzhe, Sun Jianyi, the non-executive directors of the    
    Company are Huang Jianping, Liu Haifeng David, Henry Cornell, Lin Yu      
    Fen, Cheung Lee Wah, Anthony Philip Hope, Dicky Peter Yip, Lin Lijun,     
    Fan Gang, Dou Wenwei, Shi Yuxin, Hu Aimin, and the independent            
    non-executive directors are Bao Youde, Kwong Che Keung Gordon and         
    Cheung Wing Yui.