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Analyst Coverage

Dai-ichi is currently covered by the following analysts and firms;

As of April 25, 2012

Firm

Analyst

SMBC Nikko Securities

Koichi Niwa

SMBC Friend Research Center

Shun Tanaka

Keefe, Bruyette & Woods Asia Limited

David Threadgold

Cosmo Securities

Tomoaki Kawasaki

Goldman Sachs

Takanori Miyoshi

Jefferies Japan

Makarim Salman

Citigroup Global Markets

Makoto Kasai

JPMorgan Securities

Natsumu Tsujino

Daiwa Securities

Jun Shiota

Deutsche Securities

Masao Muraki

Nomura Securities

Wataru Otsuka

Barclays Capital Japan Limited

Azuma Ohno

Macquarie Capital Securities Limited

Scott Russell
Jian Li

Mizuho Investors Securities

Hidemasa Mizumoto

Mitsubishi UFJ Morgan Stanley Securities

Futoshi Sasaki

Merrill Lynch Japan Securities

Mitsumasa Okamoto

Morgan Stanley MUFG Securities

Hideyasu Ban

Disclaimer:

The above list, to the knowledge of The Dai-ichi Life Insurance Company, Limited (the "Company"), is, as of this date, a list of the analysts that the Company has confirmed issue reports regarding the Company's common stock. It is not an exclusive list that covers analysts beyond the Company's knowledge, and this list is subject to change.

Any opinions, evaluations or forecasts regarding the performance of the Company made by the analysts are opinions of the analysts or of their firms. The Company and its management are not involved in the preparation of, nor are they liable for, any of these opinions, evaluations or forecasts.

Under no circumstances shall the above list, whether within or outside of Japan, constitute a solicitation to purchase or sell the Company's securities.

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