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12-31-2009

MAPFRE ACQUIRES A 50 PER CENT STAKE OF THE PORTUGUESE INSURER FINIBANCO VIDA

The agreement reached with FINIBANCO also includes fostering comercialization of Non- Life insurance products of MAPFRE and the distribution of financial products from the bank

MAPFRE and FINIBANCO have reached today an agreement for the acquisition by MAPFRE of a 50% stake of the Life insurer subsidiary of the Portuguese entity, FINIBANCO VIDA. The acquisition, subject to regulatory approval, will take place through MAPFRE INTERNACIONAL and its Portuguese subsidiary, MAPFRE SEGUROS GERAIS, which will take on the management of FINIBANCO VIDA.

The agreement provides that FINIBANCO will distribute through its network of 172 branches, and exclusively, Life insurance products from FINIBANCO VIDA. Furthermore, the Portuguese entity will distribute, also exclusively, Non-Life insurance products of MAPFRE SEGUROS GERAIS. The agreement reached also provides that MAPFRE will foster and promote in its network of agents in Portugal the distribution of several financial products of the bank. This acquisition represents an initial investment of 10 million euros and another of 5 million euros, subject to the fulfilment of the established business plan. The transaction is expected to contribute to MAPFRE INTERNATIONAL¿s Portuguese subsidiary with gross premiums of 26 million euros in 2010.

This transaction reflects the global strategy of the MAPFRE Group to operate in a multichannel distribution framework and highlights its capabilities in the development of insurance products.

FINIBANCO is the 16th Portuguese bank with assets of 3,000 million euros at the close of 2008 and a market share of 1.6%.

MAPFRE is present in Portugal since 1986, when it started operating in the Life insurance segment. In 1998 it founded MAPFRE SEGUROS GERAIS and at the close of 2008 reached total premiums in Portugal of 144 million euros and a Non-Life market share close to 2.5%.

MAPFRE REPRESENTATIVES