3rd Apr 2008 10:11
Legal & General Group Plc03 April 2008 FINAL3 April 2008 LEGAL & GENERAL - JOINT VENTURE Legal & General Group Plc has today announced the signing of a Memorandum ofUnderstanding with Ahli United Bank B.S.C. to set up a new joint venturecompany, headquartered in the Kingdom of Bahrain. The joint venture will initially offer a range of takaful(1) life and healthinsurance products and pension plans to retail and corporate customers in theGulf region. Product distribution will be primarily through exclusive access tothe Ahli United Bank Group's branch network and other third party distributionarrangements. The joint venture is subject to necessary regulatory and statutory approvals. About Legal & General Legal & General Group Plc is a leading UK risk, savings and investment company.Founded over 170 years ago, Legal & General today provides life assurance andother financial protection products, annuities and long-term savings productsincluding ISA's and pensions. With £297 billion in funds under management (as at31 December 2007), it is also the largest investor for UK pension funds. Legal &General has over 5.7 million UK customers. Our products are sold through a widerange of bank and building society relationships, through Independent FinancialAdvisers and also directly to customers. Legal & General Assurance Society, ourprincipal operating company, is one of Europe's top rated life companies forfinancial strength, with an AA+ rating from Standard & Poor's and Aa1 fromMoody's. About Ahli United Bank Ahli United Bank B.S.C. (AUB) and its affiliated companies is engaged inconventional and Islamic - retail and commercial banking business, andinvestment banking, global fund management and private banking businesses. TheAUB group operates as a locally incorporated full commercial bank and operates asubstantial branch network through its subsidiaries in the State of Kuwait andthe United Kingdom and through its associates in the State of Qatar, Sultanateof Oman, Arab Republic of Egypt and Republic of Iraq. AUB is listed on theBahrain and Kuwait stock exchanges and is rated A- (stable) by Standard & Poor'sand A- (long-term) by Fitch. As at 31 December 2007, AUB Group had assets totalling US$23.0 billion withloans and deposits totalling US$12.0 billion and US$17.8 billion respectively.Funds under management stood at US$8.4 billion as at 31 December 2007. Note: (1) Takaful is a form of insurance designed to provide life and non-lifebenefits to customers in a way that is compatible with Islamic Shariah Law. Enquiries to: Investors:Jonathan Maddock, Head of Investor Relations 020 3124 2150Nicola Marshall, Investor Relations Manager 020 3124 2151 Media:John Godfrey, Corporate Communications Director 020 3124 2090Richard King, Head of Media Relations 020 3124 2095Anthony Carlisle, Citigate Dewe Rogerson 07973 611888 Financial calendar 2008:Event DateEx-dividend date for 2007 final dividend 16 April 2008Q1 2008 new business results 16 April 2008Annual General Meeting 14 May 2008Payment date of 2007 final dividend (to members registered on 18 April 2008) 19 May 20082008 interim results and Q2 2008 new business results 5 August 2008Ex-dividend date for 2008 interim dividend 3 September 2008Payment date for 2008 interim dividend (to members registered on 5 September 1 October 20082008) Forward-looking statements: This document may contain certain forward-looking statements with respect tocertain of Legal & General Group Plc's plans and its current goals andexpectations relating to future financial condition, performance and results. Bytheir nature forward-looking statements involve risk and uncertainty becausethey relate to future events and circumstances which are beyond Legal & GeneralGroup Plc's control, including, among others, UK domestic and global economicand business conditions, market related risks such as fluctuations in interestrates and exchange rates, the policies and actions of governmental andregulatory authorities, the impact of competition, the timing impact and otheruncertainties of future mergers or combinations within relevant industries. As aresult, Legal & General Group Plc's actual future condition, performance andresults may differ materially from the plans, goals and expectations set out inLegal & General Group Plc's forward-looking statements. Legal & General GroupPlc does not undertake to update forward-looking statements contained in thisdocument or any other forward-looking statement it may make. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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