ČSOBČSOB PojišťovnaPojišťovna

19 April, 2004

Jeroen van LeeuwenChief Executive Officer

2Source: ČSOB Pojišťovna

INSURANCE MARKET DEVELOPMENT IN 2000-2006 Czech republic

0,71 0,86

1,05 1,23

1,60 1,44

1,30 1,43

1,57 1,70

1,92 2,14

2,35 2,54

2,14 2,44

2,76

3,18

3,56 3,79

4,14

-

0,50

1,00

1,50

2,00

2,50

3,00

3,50

4,00

4,50

2000 2001 2002 2003 2004* 2005* 2006*

Life Non-life Total

• Total written premium / GDP was 4% in 2002 compared to 8.6% in EU

• Life insurance - approximately 11% growth• Non-life insurance - approximately 10% growth• Total - approximately 10% growth

• Total written premium / GDP was 4% in 2002 compared to 8.6% in EU

• Life insurance - approximately 11% growth• Non-life insurance - approximately 10% growth• Total - approximately 10% growth

*) prediction

Total written premium (EUR billion)

3

20,9

13,3

6,5

2,0 2,8

23,3

18,4

7,3

3,6 2,8

Českápojišťovna

Kooperativa** Alianz Generali ČSOBPojišťovna

12,4

4,83,1 3,5 3,4

13,4

5,2 4,2 3,8 3,2

Českápojišťovna

ING Koop ČS (Erste) ČSOBPojišťovna

Source: Czech Insurance Association

INSURANCE MARKET STRUCTURECzech Republic

37%37% 29%29% 6%6% 4%4%Market share*

33%33% 13%13% 10%10% 8%8%

20022003

NON-LIFE INSURANCELIFE INSURANCE

MarketShare*

By total written premium (CZK billion)

*) market share as at the 31 December 2003**) figures of 2003 inclusive of non-life insurance of Pojišťovna ČS

ČSOB Pojišťovna is in the fifth position on the total Czech insurance market with 5,8% market share in 2003, being the fifth in both life and non-life insurance markets.

5th5th 5th5th

11%11%12%12%

4Source: ČSOB Pojišťovna

EUR million (CAS) 20012001 20022002 20032003 P2004P2004

NON-LIFE TECHNICAL ACCOUNT

Gross premium written 86 85 87 92

Earned premiums, net 36 44 62 75

Claims paid, gross amount -60 -82 -75 -67

Claims paid, net -26 -37 -46 -54

Result of property/casualty technical account -6 -2 -5 -1

LIFE TECHNICAL ACCOUNT

Gross premium written 98 106 99 112

Earned premiums, net: 98 106 99 112

Claims paid -50 -50 -49 -53

Claims paid, net -49 -50 - 49 -53

Result of life technical account 1 -2 0 6

PROFIT FOR THE YEAR

1 -5

-2 3

FINANCIAL DATA ČSOB Pojišťovna

TECHNICAL PROVISIONS 310 372 426TECHNICAL PROVISIONS 310 372 426

5

MEDIUM-TERM BUSINESS & FINANCIAL GOALS ČSOB Pojišťovna

Expense ratio net (Life; in %)

Combined ratio gross (Non-life; in %)

Combined ratio net (Non-life; in %)

Solvency ratio (Life)

Solvency ratio (Non-life)

Profit (Life; EUR milion)

Profit (Non-life; EUR milion)

Profit (Total; EUR milion)

20032003 P2004P2004

18.6

77.4

105.2

1.19

2.03

0

-5,2

-2,3

14.3

92.6

101.7

N/A

N/A

5,7

-1,2

2,9

6

MEDIUM-TERM DIRECTIONČSOB Pojišťovna

Market share (Life; in %)

Market share (Non-life; in %)

Market share (Total; in %)

*) Prediction of ČSOB Pojišťovna

20032003 2004*2004* 2005*2005*

8.0

4.4

5.8

8.6

4.3

6.0

9.6

4.6

6.5

Percent (%) 2006*2006*

10.6

5.5

7.5

7

DISTRIBUTION CHANNELS ČSOB Pojišťovna

Internal channel 40 %

(450 exclusive agents)

External channel 39 %

(multi-agents and brokers)

ČSOB bank 21 %

Internet (travel insurance) 0,01 %

Strategy for future:retain position in external distribution, increase market share through internal channels including the bank.

8

GENERAL

• Expand tied agent distribution network in respect of quantity & quality• Develop referral business between the bank and agents• Significantly support over-the-counter sales of bancassurance products

NON-LIFE SPECIFICS

• Packages• Increase share of SME and retail in total business

LIFE SPECIFICS

• Universal life insurance products for agents• Introduce plugged-in products for the bank

MEDIUM-TERM BUSINESS DIRECTION & ISSUESČSOB Pojišťovna

9

BANCASSURANCE ČSOB Pojišťovna

•Room for growth in the Czech market is within bancassurance

•All three main banks are active in bancassurance

•CSOB is the only one that wishes to develop both life and non-life

10

BANCASSURANCE ČSOB Pojišťovna

PRODUCTS:

Individual travel insurance• insurance against risk of accident or sudden illness

• possibility to conclude additional accident, baggage, liability or trip cancellation insurance

Card travel insurance• travel insurance for cardholders and their relatives

Consumer credits insurance

Life insurance

• capital – guaranteed and unit-linked

• regular premium and single premium

11

BANCASSURANCE ČSOB Pojišťovna

RESULTS 2003 - INDIVIDUAL TRAVEL INSURANCE:

Numbers of contracts - total 25 535 41 706 163,33%Premium - total (in EUR) 372 275 574 891 154,43%

20022002 20032003 03 / 0203 / 02

RESULTS 2003 - CARD TRAVEL INSURANCE:

Premium - total (in EUR) 1 003 236 1 250 475 124,64%

20022002 20032003 03 / 0203 / 02

12

BANCASSURANCE ČSOB Pojišťovna

RESULTS 2003 - CONSUMER CREDITS INSURANCE

Total cross ratio since the beginning - 83 %

(94% on present new business)

Credits # 63 649

Insured credits # 52 909

Annualised premium (in EUR) 632 153

13

BANCASSURANCE ČSOB Pojišťovna

RESULTS 2003 - LIFE INSURANCE (number of contracts)

20022002 20032003

Life insurance - regular 1 306 14 120Life insurance - single - 1 022Life insurance - total 1 306 15 142

Life insurance - regular 512 4 298Life insurance - single - 8 435Life insurance - total 512 12 733

RESULTS 2003 - LIFE INSURANCE (premium – in EUR thousands)

20022002 20032003