MLP reports a sharp increase in Q1 profits

Heidelberg, 18th May 2004 - A pleasing start to the current business year for MLP. The strategic step taken at the end of last year to use the open architecture in order to widen the product range shows first results. Total revenues rose over the same period last year by 43.8 per cent to EUR 147.4m (IFRS) compared with EUR 102.5m in Q1/2003. The largest contribution was made here by the broker MLP Finanzdienstleistungen AG. Revenue from brokerage business climbed by 63.2 per cent to EUR 88.3m (cf. EUR 54.1m). This rise can be attributed mainly to the pensions field with life insurance policies and the second step of the so-called "Riester" pension in Germany. Consolidated group profit before tax (EBT) increased by 52.1 per cent to EUR 14.6m (cf. EUR 9.6m).

The "Consultation and sales" business segment has once again substantiated its role as the main value driver with the group with an increase in profits before tax (EBT) of 75.0 per cent to EUR 13.3m (EUR 7.6m). MLP will be making a detailed statement concerning business development in Q1 as announced on 26th May 2004.