MLP SE — Investor Presentation 2007

Sep 26, 2007

MLP – Positioning and Growth Strategy

Uwe Schroeder-Wildberg CEO

UniCredit German Investment Conference

September 26, 2007

Overview

• yStrategic realignment
• yMLP´s unique business model and growth drivers
• yMLP´s positioning in growth markets
• yMLP´s Wealth Management strategy
• yClients and consultants
• ySummary and outlook
• yContact

MLP focuses on independent consulting

3 phases to further differentiation

2004/2005

Increasing independent position

• Changes to organisational structure
• Sale of insurance subsidiaries
• Focus on core business segments

2006

Building up further unique selling points

• Licence as investment and acquisition agent
• •Shareholding in Feri
• Strengthening the integral approach

2007

Differentiation from the market

• Independence
• ÆRegistration as broker
• Integral approach
• Æ Unique offering in all sectors
• Consultation quality
• Æ High standards in training and consulting

ÆMLP has clear unique selling points

IFA sales channel is expected to gain market share

Market share of different sales channels for life insurance products in Germany

Source: Tillinghast Sales Channel Survey Germany

* Estimate, ** incl. IFAs and multi tied agents, *** Direct incl. internet sales

Unique business model

Combination of quality of advice - customer focus - independence makes business model unique

C i i l l t t o n s u n g q u a y	T t a r g e g r o p u f o c u s
Q l i f i d l t t a e c o n s a n s u u
I l h t n e g r a a p p r o a c	k h n o w o w -
C l i l f h f t t e n g o a s o r m e o c u s
O i t n g o n g s u p p o r	f d d o a r e s s
L l i t t o n g e r m c e n - l i h i t r e a o n s p s
C h i o m p r e e n s e v i s e r v c e
I d d n e p e n e n c e
B d d t r o a p r o u c r a n	g e
H i h d l i t g p r o u c q u a	t y
P i h t t t a r n e r s w s r o	f n g p e r o r m a n c e
i f i H h l l g e v e o n n o v	i t a o n
i i T l d l t a o r e s o u o n s

Target group-specific know-how

Target group-specific form of address

Attractive risk profiles

Growth drivers

Different growth drivers for MLP´s business model

Core competencies in growth markets

Excellent growth potential

	E i d t t s m a e k h * t t m a r e g r o w	i M L P l t c o n s u n g	M i d t e r m - d l M L P t e e o p m e n v
O l d i i i -a g e p e n s o n p r o v s o n	5 1 0 % p a -	C t o r e c o m p e e n c e
P i h l h i i t t r v a e e a c a r e p r o v s o n	M i d- t e r m i i d d n c r e a s n g e m a n	C t o r e c o m p e e n c e
W l h t t e a m a n a g e m e n	5 7 % p a -	F t r e c o r e u u t c o m p e e n c e
N l i f i o n- e n s r a n c e s u	S l l d m a e c r e a s e i p r e m u m s u m s	f P h i d t t t t a r o e n e g r a e l i h t c o n s u n g a p p r o a c
F i i n a n c n g	1 0 % p a	P f h i d t t t t a r o e n e g r a e l i h t c o n s n g a p p r o a c u

*Source: Roland Berger, zeb, Allianz Global Investors, Datamonitor, KPMG, MLP.

y Target: Mid-term increase in proportion of revenue from wealth management from around 6 % up to 20 %

German social security systems are under pressure

Demographic trend is growth driver for pension and health provision markets

Number of employees who finance one retiree

Source: Stat. Bundesamt

Growth driver demographic change

Demographic trend is growth driver for pension and health provision markets

Estimated development of the population in Germany

Attractive market environment for wealth management

Growth perspectives for wealth management in Germany

• y The German private banking market offers high growth perspectives in Europe
• y Growth drivers:
• yInheritances
• yIncrease in assets

Source: zeb/rolfes, schierenbeck associates, Datamonitor

Low average age offers high potential

Targeted expansion of MLP Wealth Management

Clients by age

• y MLP clients' income and savings quotas clearly exceed average levels
• y The average age of an MLP client is 39
• y Already 37 per cent of clients are older than 40
• y The number of clients over 40 years of age will double within five years

Wealth management offers high potential

Financial assets of private households in Germany

Average per household

• y Average AuM per client only around € 5,000 so far
• y High potential in client penetration

Source: Bundesbank, Stat. Bundesamt

Increasing value creation potential

MLP Wealth Management

Potential sales revenue MLP Finanzdienstleistungen AG per year and client

• y Wealth management takes on greater importance with advancing age
• y Further increase and diversify assets through intelligent concepts

Group structure is aligned to support core competencies

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

Feri – The ideal partner for MLP

Core data and reasons for expanding wealth management segment

y

Wealth management segment expansion – a logical step

• yEnormous potential within existing MLP client base
• y Wealth management offers high revenue potential especially among the over 40's
• yMLP Bank as service platform specialising in client needs

Feri – the ideal partner for MLP

• yHigh competence and high know-how
• yStrong brand awareness and reputation
• Joint assets under management / control of € 10.8 bn
• yContinuation of successful business model
• yPartners maintain holding in company

Consistent implementation of a strong partnership

Know how to develop tailor- made wealth management concepts

Added value through MLP Wealth Management

Exclusive investment concepts for private clients

Market

• Product sales based on past performance
• Standardized solutions
• Utilization of a very limited investment universe / spectrum

• Hardly any continuity in reviewing client objectives and actual performance

• Individual and integrated consultancy based on client objectives

• Best-of approach utilising all investment options
• Solutions so far restricted to HNWI (> 500 thsd €) are now being made available to sophisticated clients
• Risk-adjusted performance
• Comprehensive after-sales service
• Excellent transparency through extensive reporting

Wealth Management is integrated into the consulting process

Individual concepts

MLP and Feri cover the whole market

Higher client penetration through transfer of know how

Clients

Continued operations*

* excluding UK and Spain

Consultants

Continued operations*

* excluding UK and Spain

Summary and outlook

• yMLP focuses on independent consulting
• y Quality of advice – target group focus – independence form the unique business model
• yCore competencies in growth markets
• yWealth management will be an additional core competence
• yMLP and Feri cover the whole wealth management market
• yManagement focus on growth drivers
• 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