(Beijing, 15 May 2014) Witnessed by Chinese President Xi Jinping and Portuguese President Anibal Cavaco Silva, Fosun International Limited (“Fosun” or the “Company”, HKEx stock code: 00656) signed today in Beijing with Caixa Geral de Depósitos S.A. (“CGD”) the relevant documents for the closing of the project, a move that marked officially the completion of Fosun’s EUR1.038 billion acquisition of 80% of the share capital and voting rights of each of Fidelidade, Multicare and Cares (collectively, the “Portuguese Insurance Group”). This is the first successful case of having a China-originated enterprise in acquisition an overseas insurance company to date, and a productive attempt by Chinese enterprises to achieve breakthroughs in the insurance sector.

Fosun, in an announcement, stated that the Company received a notice of non-opposition for the acquisition from Instituto de Seguros de Portugal, the country’s insurance regulator, on 17 April 2014. All conditions precedent of the Direct Reference Sale Agreement entered into between the purchaser and the vendor in relation to the acquisition have been fulfilled. The acquisition has officially been completed on 15 May 2014. Pursuant to the agreement, the acquisition comprises 80% of the share capital and voting rights of each of Fidelidade, Multicare and Cares (collectively, the “Portuguese Insurance Group”), all of which are wholly-owned subsidiaries of Caixa Seguros e Saúde, SGPS, S.A. (“CSS”), the insurance arm of Portugal’s state-owned bank CGD, for an aggregate consideration of approximately EUR1.038 billion, which will be further adjusted based on a closing audit to be completed within 45 business days from the closing.

Fosun expressed that following the successful completion of the acquisition of the Portuguese Insurance Group, Fosun has made a major stride towards becoming a world-class investment group underpinned by the twin drivers of “insurance-oriented comprehensive financial capability” and “profound industrial foothold based investment capability”, thereby moving closer towards implementing the Warren Buffett model of development.

The Portuguese Insurance Group’s unaudited total assets reached EUR12.8 billion by end-2013, which compared with Fosun’s total assets of RMB183.1 billion by end-2013. On a pro forma basis after consolidating the Portuguese Insurance Group, the proportion of Fosun’s insurance assets to the Group’s total assets will increase significantly from 3% to 39%. As of today, Fosun’s “twin-drivers” development model has become more distinctively defined. On one hand, Fosun will leverage its “insurance-oriented comprehensive financial capability” driver as a major financing tool to connect the Company to long term high quality capital. On the other hand, Fosun will continue to pursue and implement its “profound industrial foothold based investment capability” driver, adhering to the Fosun value investing principle, seeking to deliver more successful investment cases of “Combining China’s Growth Momentum with Global Resources”. This “twin-drivers” development model will represent a major stride for Fosun to progress forward, taking Fosun to the next level.

As the undisputed national champion in the insurance industry of Portugal, the Portuguese Insurance Group has the largest market share across products in both life and non-life sectors with a coverage of mainly personal products, and owns a diversified and unique distribution platform (exclusively access to over 800 branches on CGD distribution platform) and a highly recognized portfolio of brands. As at end-2013, the Portuguese Insurance Group’s funds available for investments aggregated to approximately EUR12 billion. Looking ahead, Fosun can increase investment returns by managing the insurance floats and improving returns from the insurance floats. In tandem with its pace of developing into an "insurance-oriented investment group", Fosun will see the pressure on its capital availability significantly lightened, while its financial strength and capital safety will be significantly improved.

Fosun emphasized that the long-term and stable cooperation with the Portuguese Insurance Group is the key and essential foundation to achieve a win-win situation in exploiting synergies for both parties. As insurance is the core business for Fosun’s development, the cooperation between Fosun and the Portuguese Insurance Group will undoubtedly be a long-term and stable one. Meanwhile, Fosun is fully confident about the existing management team and has committed to maintaining the stability of the ongoing business strategy. Through efforts of both parties and synergies derived from shared resources in various aspects, Fosun hopes to develop higher quality products and services as part of its efforts in achieving sustainable returns to our shareholders, employees and customers.

In addition, Fosun will integrate more resources to enhance the competitiveness for the Portuguese Insurance Group in an expanded market. On one hand, Fosun will facilitate collaboration and synergy with other insurance companies it invested in. For instance, it will facilitate collaboration with Peak Reinsurance to lower the reinsurance costs and to cooperate with Yong’an P&C Insurance in technologies, products and sales channels to achieve rapid business development. On the other hand, Fosun will make use of its core investment capability to optimize the investment portfolio to improve the investment returns for the Portuguese Insurance Group, especially combining with Fosun’s global investment strategies. Fosun will also review in at full lengths the investment opportunities across Europe and OECD markets while broadening its business scope, with a view to minimizing systemic risks of geographical concentration through diversification.

Fosun indicated that, the Company has long been striving to become an insurance-oriented investment group, and has been actively identifying different types of value investing opportunities around the world. Fosun is of a view that Portugal is a highly attractive key market and matches well with Fosun’s global expansion strategy. Fosun stays vigilant and is attentive to other investment opportunities in other sectors of the Portuguese market, in particular the sectors of property, tourism and brand products.

As the setting up of Fosun’s representative office for Europe in Lisbon, the Company is able to get connected to and provide better support to the Portuguese Insurance Group, a progress that will help explore investments further in other sectors in Portugal and further promote Sino-Portugal economic exchange and cooperation. This move will also allow Fosun to contribute its effort, albeit minute, to recovery of the economy in Portugal. Fosun aspires to play the role as a bridge that facilitates business developments in China by companies originated in Portugal, and developments in Portugal by companies originated in China.

Fosun persistently makes a major stride towards becoming a world-class investment group underpinned by the twin drivers of “insurance-oriented comprehensive financial capability” and “profound industrial foothold based investment capability”. Fosun has been endeavoring determined efforts in establishing insurance as its core business. The Company has always been seeing insurance as a premium path connecting its investment capability and long term high quality capital. Excluding investment in the Portuguese Insurance Group, Fosun has invested in three insurance companies, namely Yong’an P&C Insurance, Pramerica Fosun Life Insurance and Peak Reinsurance. Leveraging its successful connection to Fosun’s investment capability, the insurance segment as a whole achieved a profit one year immediately after its establishment, beating forecasts significantly. The insurance segment achieved a profit aggregated RMB523.6 million with funds available for investments aggregated RMB13.37 billion in 2013. Peak Reinsurance accomplished excellent investment returns since its establishment in late 2012. Yong’an P&C Insurance ranked 11 among China’s P&C companies in terms of original premium income. Pramerica Fosun Life Insurance had been intensifying its product innovation efforts and secured eligibilities for discretionary investments in financial products and bonds, equity securities, and approval for the US-dollar denominated offshore investments from China Insurance Regulatory Commission within a year after its establishment.