OREANDA-NEWS. March 25, 2011. The Dai-ichi Life Insurance Company, Limited (the “Company”; President: Koichiro Watanabe) today established two subsidiaries in Australia in the process of acquiring the remainder of the shares of common stock of TOWER Australia Group Limited (“TOWER”), an affiliate in which the Company currently has a 28.96% stake. The acquisition of the remainder of the shares (the “Transaction”) is subject to obtaining approvals of the Japanese and Australian authorities and TOWER’s shareholders.

The purpose of the establishment of the two subsidiaries is to have a suitable corporate structure in the process of the Transaction, according to applicable laws and regulations. The Transaction will be executed through the two subsidiaries, subject to necessary procedures.

The process of the Transaction is on schedule and the Company continues to prepare for the completion of the Transaction in May 2011.