New venture is set to further enhance Alliance Bank's wealth management proposition to customers through Prudential's comprehensive product suite.

(L-R): Mr Marc-Oliver Francq, Senior Vice President and Head of Integrated Wealth Management, Alliance Bank Malaysia Berhad, Ms Liew Swee Lin, Executive Vice President and Head of Consumer Banking, Alliance Bank Malaysia Berhad, Mr Charlie Oropeza, Chief Executive Officer, Prudential Assurance Malaysia Berhad, Ms Khoo Ai Lin, Chief Officer, Partnership Distribution and General Insurance, Prudential Assurance Malaysia Berhad

Kuala Lumpur, 5 July 2010 - Alliance Bank Malaysia Berhad (Alliance Bank) today announced a strategic Bancassurance partnership with Prudential Assurance Malaysia Berhad (PAMB) that will enable it to broaden its existing range of wealth management products and services for customers.

Under the Bancassurance arrangement which takes effect from 1 July 2010, Alliance Bank will distribute PAMB's innovative array of protection, retirement, children's education savings, long-term savings, and health insurance products via over 90 Alliance Bank's branches and non-branch distribution channels across the country.

This collaboration will also see both organisations working together to identify market opportunities and to promote a suite of insurance products tailored to Alliance Bank's customers.

Speaking at the Memorandum of Understanding (MoU) signing ceremony held in Kuala Lumpur today, Liew Swee Lin, Executive Vice President, Head of Consumer Banking for Alliance Bank said, "This is an exciting opportunity for Alliance Bank as it further enhances our capability in delivering the best products to suit our customers' financial needs. Prudential's product innovation is unparalleled and we are very pleased to be able to harness their expertise in this area.

"We had invited Prudential to collaborate with us not only because of its strong brand image, but also because of its vast experience in the industry with impressive diversity of innovative products that matches those in our portfolio. More importantly, it is the value of being "Prudent" that both Alliance Bank and Prudential believe in that encompasses the spirit of well-being within the hearts of the community that we live and work in.

In today's world where financial stability is seen as an assurance for sustainable lifestyle upon retirement, the choice of making a wise decision for the right insurer and bancassurance partner is just as crucial."

Charlie Oropeza, PAMB's Chief Executive Officer said, "We are delighted to partner Alliance Bank in strengthening its foothold in the Bancassurance business in Malaysia. As a leading Bancassurance player in Asia, we bring to this partnership our extensive knowledge and experience in applying Bancassurance models across multi-distribution platforms, as well as our innovative but customer-centric portfolio of insurance products. We look forward to building a long-term and successful relationship with our new partner."

Representing Alliance Bank at the signing ceremony was Liew, whilst Oropeza signed on behalf of PAMB. The event was also attended by the senior management teams from both organisations, including Marc-Olivier Francq, Head of Integrated Wealth Management, Alliance Bank, and Khoo Ai Lin, PAMB's Chief Officer of Partnership Distribution and General Insurance.

Alliance Financial Group is a dynamic, integrated financial services group offering end-to-end financing solutions through its consumer banking, SME banking, commercial banking, Islamic banking, investment banking and stockbroking businesses as well as unit trust and asset management by providing products and services that are suited for every customer at every stage of their life.

The Group has five decades of proud history in contributing to the financial community in Malaysia with its innovative and entrepreneurial business spirit. Today, the Group is involved in the provision of financial services through its principal subsidiaries, Alliance Bank Malaysia Berhad, Alliance Investment Bank Berhad, Alliance Investment Management Berhad and Alliance Islamic Bank Berhad. It provides easy access throughout the country by serving its broad base of customers via multi-pronged delivery channels which include retail branches, Alliance Personal branches, Alliance Rakan branches, Privilege Banking Centres, Islamic Banking Centres, Business Centres, Investment Bank branches, direct marketing offices and unit trust agent offices located nationwide in a mix of rural and urban areas.

The Group's aspiration is to be Malaysia's premier integrated financial services group delivering the best customer experience and creating long-term shareholder value. Strategic alliances, enhanced group synergy, excellent technology and human capital will be the key to creating long-term value for all stakeholders.

Prudential Assurance Malaysia Berhad (PAMB) was established in Malaysia in 1924. For the financial year ended 2009, it achieved a record RM817 million in new business annual premium equivalent (APE), representing a 24% growth on 2008. This new business APE comprised retail Life Insurance sales and Takaful contributions. Takaful products distributed by PAMB are underwritten by Prudential BSN Takaful Berhad.

As an innovative leading insurer, PAMB serves the savings, protection and investment needs of Malaysians by offering a full range of financial solutions through its 41 branches nationwide. With the backing of more than 900 employees and over 11,000 agents and Wealth Planners, it is committed to helping people achieve their hopes and dreams for a brighter and financially secure future.

PAMB is part of Prudential plc of the United Kingdom. Established in London in 1848, Prudential plc is one of the world's leading retail financial services groups. It provides insurance and financial services through its 4 main business units throughout the world. Prudential plc has been in existence for over 160 years, and has 25 million customers worldwide and £290 billion in assets under management as at 31 December 2009. With life and fund management operations in 13 Asia markets, Prudential is currently the region's leading Europe-based life insurer in terms of market coverage and number of top-three market positions, and a leading regional fund manager.

Prudential plc is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America.