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Brandes Proposes 40 yen Per Share Dividend for Mitsui Sumitomo Insurance Group Holdings, Inc. Annual Meeting
Date:5/7/2009

SAN DIEGO, May 7 /PRNewswire/ -- Brandes Investment Partners, L.P. ("Brandes") today announced that, as of April 20th, 2009, it submitted to Mitsui Sumitomo Insurance Group Holdings, Inc. (the "Company"), an insurance company based in Japan and listed on the Tokyo Stock Exchange, a proposal for a resolution (the "Resolution") to be submitted for shareholder approval at the Company's upcoming annual meeting of shareholders. On behalf of its investment advisory clients, Brandes currently holds in excess of 8.0% of the Company's shares. This represents an ownership position built since 2003 which initially started with Mitsui Sumitomo Insurance Company, Limited shares that were then exchanged to Mitsui Sumitomo Insurance Group Holdings, Inc., shares in April 2008.

The Resolution calls for the Company to authorize a one-time dividend of 40 yen per share of common stock (including the interim dividend of 27 yen per share, the annual dividend, if approved, shall be 67 yen per share), payable by September 30, 2009. A copy of Brandes' letter to the Company and the Resolution are available at Brandes website: http://www.brandes.com/Inv/Pages/PressReviews.aspx.

Background

The Company has long publicly disclosed that it has substantial excess capital of at least 200 billion yen (please refer to the Company's 2008 Annual Report and 'Summary Q&A' of FY2008 Second Information Meeting on November 27, 2008 for latest disclosures). While the Company has historically stated that excess capital would be used for 'strategic investments,' no significant actions have been taken to reduce excess capital, and the Company has failed to implement any managerial policies or undertake
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SOURCE Brandes Investment Partners, L.P.
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