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Aegon's subsidiary in China enters into national cooperation agreement with Agricultural Bank of China

The Hague, October 20, 2004

Aegon N.V. announces that Aegon-CNOOC Life Insurance Company Ltd., the 50/50 joint venture of Aegon N.V. with the Chinese National Offshore Oil Corporation (CNOOC), signed a national cooperation agreement with the Agricultural Bank of China. The Agricultural Bank of China (ABC) is one of the 'Big Four' banks in the Peoples Republic of China. Through this agreement, Aegon-CNOOC will provide a broad range of life and accident and health insurance services to ABC's extensive customer base. ABC will provide Aegon-CNOOC with payment and cash management services.

 

The agreement with ABC strengthens Aegon-CNOOC's multi-channel distribution strategy, which includes bank distribution, agent distribution and direct marketing.

 

About Agricultural Bank of China

Agricultural Bank of China (ABC) is one of the ‘Big Four’ banks in the Peoples Republic of China. As an integrated banking supplier ABC offers all-round comprehensive banking services to over 150 million clients and utilizes 37 regional branches with more than 36,000 outlets distributed throughout the country and worldwide. Ranked the 25th in "The Banker" magazine's 2003 ratings of the top 1000 global banks, the ABC is now the leader of bancassurance in the China market.