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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
PREMIUMS INCOME

Reference is made to the announcement of PICC Property and Casualty Company Limited
(the “Company”) dated 27 August 2004. The direct premiums income of the Company for the
period from 1 January 2007 to 30 November 2007 was RMB82,083.67 million, such
information is released on the official website of China Insurance Regulatory Commission
(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.

By Order of the Board
Liu Zhenghuan
Secretary of the Board
Beijing, the PRC, 17 December 2007

On the date of this announcement, the Chairman of the Board is Mr. Wu Yan (executive director), the Vice
Chairman is Mr. Wang Yi (executive director), Mr. Wang Yincheng and Md. Liu Zhenghuan are the executive
directors, the non-executive directors are Mr. Tse Sze-Wing, Edmund, Mr. Wu Gaolian, Mr. Zhou Shurui and Mr.
Li Tao, the independent non-executive directors are Mr. Cheng Wai Chee, Christopher, Mr. Lu Zhengfei, Mr. Luk
Kin Yu, Peter and Mr. Ding Ningning.