NISSAY DOWA GENERAL INSURANCE COMPANY LIMITED

NOTICE OF APPLICATION PURSUANT TO SECTION 107(1) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000

TRANSFER OF INSURANCE BUSINESS

Notice is hereby given, that Nissay Dowa General Insurance Company Limited (“Nissay Dowa”) and Dowa Insurance Company (Europe) Limited (“Dowa”) jointly applied to the High Court of England and Wales on 8 September 2006, pursuant to section 107(1) of the Financial Services and Markets Act 2000 (“FSMA”), for an Order sanctioning the transfer to Dowa of the entirety of the general insurance business written by the UK branch of Nissay Dowa. It is also intended that any reinsurance protections attached to the business will also be transferred, pursuant to section 112 of FSMA. The business to be transferred was originally written by the UK branch of Dowa Fire & Marine Insurance Company Limited between 1968 and 1977. It changed its name on 18 April 2001, to Nissay Dowa following a merger with Nissay General Insurance Company Limited. A Scheme Report on the proposed transfer scheme has been prepared by Mr Ian Marshall, of Chiltington International Limited. The report concludes that no policyholder will be adversely affected by the transfer. A statement setting out the terms of the scheme and containing a summary of the scheme report together with a copy of the full scheme report can be obtained, free of charge, from the website of Eversheds LLP, Solicitors acting on behalf of Nissay Dowa, at http://www.eversheds.com/nissaydowa or; alternatively, from the following address, Eversheds LLP Solicitors, (Attn Nigel Davenport/Marko Stamenkovic), Senator House, 85 Queen Victoria Street, London EC4V 4JL (telephone 0845 497 9797). The proposed transfer will secure the continuation by or against Dowa of any legal proceedings by or against Nissay Dowa that relate to the business referred to above. All claims currently being dealt with by or on behalf of Nissay Dowa would, after the proposed transfer, be handled by or on behalf of Dowa. Future claims arising under the transferred policies would be similarly dealt with by or on behalf of Dowa. Any person who considers that he would be adversely affected by the carrying out of the scheme is entitled to be heard by the Court pursuant to section 110(b) of the Financial Services and Markets Act 2000. The application will be heard at 10.30 am, on 19 December 2006, at the Royal Courts of Justice, Strand, London WC2A 2LL.