Cholamandalam MS Risk Services Limited (“CMSRSL”), a Risk Management Company of Mitsui Sumitomo Insurance Company Co., Ltd. (“MSI”) (President: Toshiaki Egashira) in India, has been conferred with the “Risk Manager of the Year” award at the 11^th Asia Insurance Industry Awards 2007 ceremony held in Singapore, on November 5. This award is given to risk managers who showed the most outstanding performance in Asia’s insurance market during 2007.

CMSRSL is a subsidiary of Cholamandalam MS General Insurance Company, Limited, a general insurance company of MSI in India, and also is the only risk management company which is a subsidiary of an insurance company operating in India.

The company is highly praised for its pioneering risk management services in India, where economic development is booming and there is an increase in awareness for risk management, and is the first India’s risk management company to receive this award.

1. Corporate Data: CMSRSL   ・Company Name   Cholamandalam MS Risk Services Limited   ・Head Office Location   Chennai, India ・Date Established   October 2003   ・Investment Ratio   MSI and Murugappa Group hold equal shares of 50% each. (Murugappa Group is the equity partner of the general insurance company of MSI in India.)   ・Business Outline   e.g. risk analysis; providing risk management seminars for companies; evaluating compliance   ・Number of Employees   25 employees   ・Annual turnover   JPY 86 Million (Fiscal Year 2006)

2. Name of the Award “Asia Insurance Industry Awards 2007, Risk Manager of the Year”

3. Main reasons for winning the prize CMSRSL won the prize for:   (1) Demonstrating a high degree of professionalism in a wide range of services, which go beyond the scope of insurance-related risk management. (2) Introducing new risk management techniques, such as thermography, for the first time in India.

4. About this Award   (1) About Asia Insurance Industry Awards 2007 ・ This contest is hosted by the Asia Insurance Review every year. The Asia Insurance Review is a Singaporean company which is the only one company in Asia that publishes professional publications on insurance. ・ There are 14 award categories and the winners are general insurers, reinsurers, life insurers, insurance brokers and insurance education institutions who demonstrated notable performance in Asian insurance market. ・ In 2003, MSI won “Personality of the Year” award, and in 2005, won “General Insurance Company of the Year”. (2) About the “Risk Manager of the Year” The “Risk Manager of the Year” award is one of the awards in the 14 categories, mentioned above, and is awarded for providing creative risk management solutions and for promoting and developing risk management.

5. Judging Panel There were 22 judges in the judging panel, which comprised of heads of insurance regulators, major insurance companies and insurance-related organizations in the world.