Allianz and Dresdner Bank plan integration of Advance Bank and Financial Planners into their joint sales

The Allianz Group plans the integration of the activities of Advance Bank and Financial Planners into the joint sales model of Allianz and Dresdner Bank. This will speed up processes and enable the group to increase efficiency in achieving its goals in the growth markets of old-age provision and capital accumulation. Allianz and Dresdner Bank are already the leaders in private and company old-age provision. The decision is subject to the resolutions of the respective bodies.

Up to now, the sales channel via Advance Bank and Financial Planners was independent of the Allianz sales organization and Dresdner Bank branches. Successful development of the joint sales model now permits Allianz and Dresdner Bank to offer a comprehensive range of products and services. Advance Bank and the Financial Planners organization can be incorporated in this joint sales network. The highly qualified personnel will focus on supporting customers of the Allianz Group and on the acquisition of new customers. This will ensure swifter expansion of the group’s strong position in the growth markets of retirement provision and capital accumulation.

Clear orientation on the two-brand strategy of Allianz and Dresdner Bank yields significant advantages. This emerges not least from the savings potential in planned investments: canceling expansion of the Advance organization as an independent unit and brand amounts to a figure in excess of 500 millions euros.

Allianz is continuing with the model of its multi-channel sales strategy. As is the case now, customers will be in a position to choose the form of advice that best suits their specific wishes and objectives: in an insurance agency, the branch of a bank or at home, by telephone and on the Internet.

Certain of the statements contained herein may be statements of future expectations and other forward-looking statements that are based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. In addition to statements which are forward-looking by reason of context, the words "may, will, should, expects, plans, intends, anticipates, believes, estimates, predicts, potential, or continue" and similar expressions identify forward-looking statements. Actual results, performance or events may differ materially from those in such statements due to, without limitation, (i) general economic conditions, including in particular economic conditions in the Allianz Group's business and markets, (ii) performance of financial markets, including emerging markets, (iii) the frequency and severity of insured loss events, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) interest rate levels, (vii) currency exchange rates including the Euro – U.S. dollar exchange rate, (viii) changing levels of competition, (ix) changes in laws and regulations, including monetary convergence and the European Monetary Union, (x) changes in the policies of central banks and/or foreign governments, (xi) the impact of our acquisition of Dresdner Bank, including related integration issues, and (xii) general competitive factors, in each case on a local, regional, national and / or global basis. The matters discussed in this release may also involve risks and uncertainties described from time to time in Allianz AG’s filings with the U.S. Securities and Exchange Commission. Allianz AG assumes no obligation to update any forward-looking information contained in this release.