OREANDA-NEWS. April 22, 2011. The Dai-ichi Life Insurance Company, Limited (the “Company”; President: Koichiro Watanabe) has been advised today that the Federal Court of Australia has approved the proposed acquisition of the remainder of the ordinary shares of TOWER Australia Group Limited (“TOWER Australia”) by the Company (the “Transaction”). TOWER Australia is an affiliate in which the Company currently has a 28.96% stake. All the conditions for the Transaction have now been satisfied.

The Company plans to increase the capital of its Australian subsidiaries, which were established on March 25, 2011, transfer its existing shares in TOWER Australia to one of those subsidiaries, and acquire the remainder of the shares of TOWER Australia through the subsidiary. The transaction is scheduled to be implemented on May 11, 2011.

After the completion of the Transaction, the Company will support TOWER Australia in the next stage of its development and also strengthen the Company’s commitment to and efforts in the Australian insurance market. The Company believes it can expand its overseas businesses through enhancement of TOWER Australia’s core capabilities and corporate value.