Press Release

• Total revenue of 633.0 million
• Concentration on core competencies of long-term investment and pension planning
• Earnings impacted by restructuring – EBIT of €19.7 million
• 429,100 customers benefit from AWD’s advice including 181,500 new customers
• Carsten Maschmeyer will move to Advisory Board of Swiss Life, Manfred Behrens AWD’s CEO as of

AWD, one of the leading financial advisers in Europe, maintained its position in core market Germany in 2008 in a turbulent market environment that was impacted by the financial crisis. Despite the trend in the industry, AWD posted revenue of €385.6 million in Germany (+0.2%). And AWD’s business situation was stable in Switzerland: revenue of €69.3 million was close to the prior-year level (-1.6%). Developments in the United Kingdom were particularly affected by the consequences of the international financial and property crisis: revenue in the UK amounted to €64 million (-33%). This was partially due to extensive restructuring actions: as of 12 December 2008, in the context of a strategic refocus, AWD disposed of the AWD Home Finance unit in the United Kingdom.