ASIANET: CIGNA INTERNATIONAL AND ADVANCE SYNERGY BERHAD FORM JV

CIGNA INTERNATIONAL AND ADVANCE SYNERGY BERHAD FORM JOINT VENTURE IN MALAYSIA PERDANA CIGNA INSURANCE BERHAD TO OFFER INSURANCE COVERAGES AND OTHER FINANCIAL SERVICES TO MALAYSIAN MARKETS

PHILADELPHIA, Aug. 21 /PRNewswire-AsiaNet/ -- CIGNA International has formed a joint venture company with Advance Synergy Berhad (ASB), and investment holding company in Malaysia.  The joint venture company, named Perdana CIGNA Insurance Berhad, is based in Kuala Lumpur.

The joint venture, which will assume the business written by INA -- CIGNA's previous operation in Malaysia -- is intended to help CIGNA develop and promote the sale of its personal and commercial insurance lines in Malaysia through ASB's access to the local market.  For ASB, the joint venture will represent a broadening of its financial service products through entry into the general insurance market.

"The joint venture blends CIGNA's strong technical underwriting, specialist business and systems capabilities with ASB's diversified business base, expertise and recognition in local markets," said Peter O'Connor, senior vice president of CIGNA International's Asia Pacific Region.  "As a result, Perdana CIGNA will be in an excellent position to meet the growing need of individuals and businesses in Malaysia for insurance and other financial services, at the same time producing sustainable, profitable growth for both partners."

O'Connor said the need for "cross-border" insurance products for individuals and businesses is likely to grow throughout Asia as more businesses participate in the global economy.  CIGNA is a partner in several similar ventures in the region, including joint ventures and strategic alliances in Indonesia, the Philippines, Korea and China.

ASB is a broadly diversified investment holdings company listed on the Kuala Lumpur stock exchange.  Its subsidiaries and associate companies are engaged primarily in property development; financial services; the manufacture and sale of various plastic, timber and other industrial materials; and in the ownership and operation of resorts and hotels.

ASB's operations in the financial services sector are represented by its subsidiary, United Merchant Group Berhad, which also is listed on the Kuala Lumpur Stock Exchange.

CIGNA International, the global operating division of CIGNA Corporation (NYSE: CI), provides property, casualty, life, accident, health, employee benefits and risk management products and services through local affiliates in 56 countries.  It distributes its products through major international or local brokers, direct response or direct sales forces and, in selected countries, via independent agents.

With assets of approximately US$96 billion and shareholders' equity of US$7.2 billion, CIGNA ranks among the largest insurance healthcare and financial services enterprises in the world.

CONTACT:  Paul Gallanda of CIGNA International Public Affairs, 215-761-4746, or fax, 215-761-5632/ /CIGNA press releases available through Company News On-Call by fax, 800-758-5804, ext. 165050, or at http://www.prnewswire.com / (CI) /delval/