MLP SE — Interim / Quarterly Report 2007

Aug 8, 2007

H1 and Q2 2007 Results

Uwe Schroeder-Wildberg, CEO

8th August 2007

Overview

• yHighlights Q2 2007
• yFinancial details H1 and Q2 2007
• yClients
• yConsultants
• ySummary and outlook

Highlights Q2 2007 (1)

• y Successful implementation of EU insurance mediation directive
• y Focus on profitable foreign operations in Austria and the Netherlands
• y Successful merger of MLP Bank AG and MLP Finanzdienstleistungen AG
• yDividend payment of around € 40m
• yJoint venture with Interhyp to optimize mortgage business

Highlights Q2 2007 (2)

• y Positive trend in old-age pension provision business
• yIncome from old-age pension provisions +7.4%
• yArranged new business +44% compared to Q1 2007
• y Income from health insurance business -43% due to reform of the German healthcare system
• yTotal income +8%
• yEBIT +28%
• yAuM increased by around € 200m

MLP banking platform – an important USP for wealth management

Efficient and specialised service platform geared towards client needs

• ÆConsistent implementation of a best-of approach on own service platform
• Æ Own banking platform is a decisive prerequisite for client-oriented liquidity and wealth management

Total income increased

Total income

H1: Brokerage business at previous year's level

Income from brokerage business, H1 2007 (H1 2006): € 195.9m (€ 197.6m)

Q2: Positive trend in old-age pension provisions

Income from brokerage business, Q2 2007 (Q2 2006): € 88.7m (€ 91.5m)

EBIT development in line to reach FY 2007 Guidance

Continued operations

Income statement

[ i € ] n m	Q 2 2 0 0 6	Q 2 2 0 0 7	H 1 2 0 0 6	H 1 2 0 0 7
T l i t o a n c o m e	1 1 6 9	1 2 6 2	2 4 6 7	2 7 0 9
E B I T	1 2 2	1 5 6	2 4 6	3 2 3
F i t n a n c e c o s	1 8	0 0	3 8	0 5
E B T	1 4 0	1 5 6	2 8 4	3 2 7
T a e s x	1 9 -	6 0 -	7 9 -	1 3 3 -
N f i t t e p r o	1 2 1	9 6	2 0 5	1 9 5
S i E P € n	0 1 1	0 0 9	0 1 9	0 1 9

• y H1 2007
• yEBIT +31 %
• y EBIT margin increased by 1.9 percentage points
• y Net profit Q2 2006 was distorted by a tax refund

Income consulting and sales segment at previous year's level

Segment reporting

[ in € ] m	Q 2 2 0 0 6	Q 2 2 0 0 7	H 1 2 0 0 6	H 1 2 0 0 7
Co l in d les t t ns u g an sa s eg m en
Se inc t g m en om e	9 6. 7	9 4. 4	2 0 6. 6	2 0 8 5.
E B I T	1 2. 5	1 3. 0	2 6. 1	2 6. 4
E B I T in in % m ar g	1 2. 9	1 3. 8	1 2. 6	1 2. 8
E B I T fo ig ion t re n op er a s	-1 3	-2 0	2. 0 -	-4 5
Ne bu in w s es s
O l d- is ion ( in € b ln. ) ag e p ro v	1. 2	1. 3	2. 8	2. 2
He l h ins t a ur an ce	1 7. 4	9. 0	3 3. 9	2 3. 6
Lo d tg an s a n mo r ag es	3 4 5	3 1 3	6 4 9	6 1 8
( ) Fu ds de in € b ln. t n n r m an ag em en u	-	-	1 0. 8 *	1 1. 0
Ba k in t n g se g m en
Se inc t g m en om e	1 7. 3	2 0. 0	3 4. 1	3 8. 9
E B I T	1. 9	3. 0	3. 4	4. 7
W l h t t s t ea m an ag em en eg m en
Se inc t g m en om e	-	9. 7	-	1 9. 7
E B I T	-	1. 6	-	3. 0

* as at 31/12/06

Strong balance sheet

MLP Group assets

[ i € ] n m	/ / 3 0 0 6 0 7	/ / 3 1 1 2 0 6
I i b l t t n a n g e a s s e s	1 8 1 7	1 8 6 8
P l d i t t t r o p e r y p a n a n e q u p m e n ,	8 7 6	8 9 1
I t t t n e s m e n p r o p e r v y	1 4 8	1 1 5
D f d t t e e r r e a x a s s e s	0 4	0 2
R i b l f e c e v a e s r o m
b k i b i a n n g s n e s s u	6 4 7 7	6 0 6 4
F i i l i t t n a n c a n v e s m e n s	4 8 0	4 9 9
T f d l i a x r e u n c a m s	9 7	2 1 1
R i b l d h t t e c e a e s a n o e r a s s e s v	1 0 1 6	1 1 7 7
C h d h i l t a s a n c a s e q u v a e n s	1 0 0 8	1 2 0 5
A f i t t s s e s r o m o p e r a o n s
b d i i d t t o e s c o n n e u	9 4	-
	5 1 2 2 1 ,	1 2 6 6 1 ,

Reduction in receivables and other assets due to usual seasonal business development

y

yLiquid funds of € 102m

Equity ratio stands at 25%

MLP Group liabilities and shareholders' equity

[ i € ] n m	/ / 3 0 0 6 0 7	/ / 3 1 1 2 0 6
E i i b b l t t t t t q u y a r u a e o
M L P A G h h l d s a r e o e r s	3 0 1 6	3 2 3 4
M i i i t t t n o r y n e r e s	0 1	0 1
i T l h h l d ' t t o a s a r e o e r s e q u y	3 0 1 6	3 2 3 4
P i i r o s o n s v	2 9 9	3 3 9
D f d l i b i l i i t t e e r r e a x a e s	2 0 8	1 9 6
L i b i l i i d t t a e s e o u b k i b i a n n g u s n e s s	6 6 0 8	9 9 5 7
T l i b i l i i t a a e s x	1 0 1	6 7
O h l i b i l i i t t e r a e s	2 0 0 4	2 8 1 9
L i b i l i i h l d f l t a e s e o r s a e	1 4	-
	1 2 2 5 1 ,	1 2 6 6 1 ,

• y Shareholders' equity decreased due to dividend payment
• y Decrease of other liabilities due to usual seasonal business development

Clients

Continued operations*

* excluding UK and Spain

Consultants

Continued operations*

* excluding UK and Spain

Summary and outlook

• yOld-age pension provision business gained momentum in Q2
• yTotal income and EBIT increased significantly
• ySuccessful cost control
• y MLP will be well prepared for upcoming changes in the regulatory framework (MiFID, amendments to the German insurance contract law)
• y Introduced measurements to increase number of consultants will pay off in H2 2007
• y EBIT guidance FY 2007 of € 110m for continued operations reiterated

Outlook for different business segments reiterated

Medium-term planning

	2 0 0 7	M d i t e u m e r m -
O l d i i i i a g e p e n s o n p r o s o n s n c o m e v -
W l h i t t e a m a n a g e m e n n c o m e
H l h i i t e a n s u r a n c e n c o m e
f N b l t t m e r o c o n s a n s u u	2 0 * 7 5 ,	S d h t t e a g r o y w

* Adjusted after the withdrawal from markets in the UK and Spain in July 2007

Contact

MLP Investor RelationsAlte Heerstraße 4069168 WieslochGermany

Contact:Investor Relations:

Helmut Achatz, Head of Investor Relations Klaus Ringel, Manager Investor Relations

Tel. +49 (0) 6222 308 1135 Fax.+49 (0) 6222 308 1131 E-mail: investorrelations@mlp.de

MLP Investor Relations information on the internet: Financial reports, presentations and calendar etc. at http://www.mlp.de