Dai ichi Life Insurance : Announcement Regarding the Timing of 100% Ownership Acquirement of Protective Life Corporation

[Unofficial Translation]
December 16, 2014
Koichiro Watanabe
President and Representative Director The Dai-ichi Life Insurance Company, Limited Code: 8750 (TSE First section)

Announcement Regarding the Timing of 100% Ownership Acquirement of Protective Life Corporation

The Dai-ichi Life Insurance Company, Limited (the "Company"; President: Koichiro Watanabe), as the Company made an announcement on June 4th, 2014, entered into a definitive agreement to acquire 100% of the outstanding shares of Protective Life Corporation ("Protective Life"), a U.S. life insurance group listed on the New York Stock Exchange ("the Acquisition")1. The Acquisition will be executed by merging Protective Life and DL Investment (Delaware), Inc., a 100% owned subsidiary of the Company established in the U.S. solely for the purpose of the Acquisition process.
We currently expect closing to occur on or about February 1, 2015, subject to relevant regulatory approvals and
other customary closing conditions.

1 Please refer to our press release "Agreement to Acquire 100% Ownership of Protective Life Corporation" dated June 4, 2014.

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