November 17, 2008
Sony Financial Holdings Inc.

Sony Life's Supplementary Data for the Six Months Ended September 30, 2008
at Press Conference(1) Sales Results
Six months ended
Six months ended
Year ended March
September 30, % Change from fiscal year % change from six months
September 30,31, 2008
ended March 31, 2008 ended September 30, 2007
2008
2007
30,940-0.9%
63,47531,225
Annualized premiums of new policies (million yen)－(millionyen)
6,513
-1.2%
13,3586,593
Of which third-sector products－
Annualized premiums of total policies (million yen)
540,9482.1%
4.5%
530,011517,490
124,595
1.4%
3.4%
122,854
120,530
Of which third-sector products (million yen)(million yen)
Income from insurance premiums
327,0852.7%
648,406
318,541－
Individual life insurance and(million yen)323,315
2.8%
639,794
314,575－
annuities
Group insurance and annuities (million yen)
3,510
-0.8%
7,126
3,538
－
(million yen)
New policy amount
1,894,7770.8%
3,802,588
1,879,368－(million yen)
Policy amount in force
32,065,432
1.8%
3.8%
31,497,346
30,878,727(million yen)
Surrender and lapse Amount
979,318
7.5%
1,849,909
910,689－(%)
Surrender and lapse rate
3.11
6.12
3.01
－ up 0.10 point
Notes:
1. The above figures excluding income from insurance premiums represent total amounts of individual life insurance and individual annuities.
2. Lapse and surrender amount as well as lapse and surrender rate do not include reinstatement.
3. Annualized premiums are for individual life insurance and individual annuities. Annualized premiums refer to an amount that is calculated
by multiplying individual premium amounts by a coefficient that differs depending on the premium payment methods, thereby converting thefigure to a per-year premium. (For single-payment policies, premiums are divided by the coverage period.)(2) Assets
As of September
30, 2008

As of March 31,
2008

As of September
30, 2007

4.9%-19.3%

3,659,786
6,120

3,607,135
6,750

15.7 down 2.6 points down 5.0 points

18.3

20.7

(%)
1,665.4 down 82.5 points down 204.6 points
Solvency margin ratio
Note: Adjusted net asset is calculated base on the regulatory standard.

1,747.9

1,870.0

Total assets
Adjusted net asset(million yen)（100 millionyen）

Adjusted net asset /General accountasset(%)

3,785,372
5,446% change from March 31, % change from September
2008
30, 2007

3.4%-11.0%(3) Core Profit / Negative Spread
Six months ended
Six months ended
Year ended March
September 30, % Change from fiscal year % change from six months
September 30,31, 2008
ended March 31, 2008 ended September 30, 2007
2008
2007
Core profit

Negative spread(million yen)（100 millionyen）16,538－18.5%

23,571

Fiscal year ending March 31, 2009
(Forecast)Fiscal year ended March 31, 2008

Decrease

267

13,962

(4) Policy and Other Reserves
As of September
30, 2008
Policy reserve (excluding contingencyreserve)
General account (excludingcontingency reserve)
Separate account (excludingcontingency reserve)
Reserve for price fluctuations
Contingency reserve
Contingency reserve 1
Contingency reserve 2
Contingency reserve 3
Contingency reserve 4
Contingency reserve fundPrice fluctuations reserve fund% change from March 31, % change from September
2008
30, 2007

As of March 31,2008As of September
30, 2007(million yen)

3,451,573

138,289

258,439

3,313,283

3,193,133(million yen)

3,157,361

141,671

287,253

3,015,689

2,870,107(million yen)

294,212-3,381-28,814

297,593

323,026(million yen)

24,66863,291
16,90833,9597,610
4,812-

568
1,483
334
125
881
141
-

2,250
2,876
694
236
1,684
260
-

24,09961,807
16,573
33,833
6,729
4,671
-

22,41860,414
16,21333,722
5,925
4,551
-

As of March 31,2008

As of September
30, 2007(million yen)(million yen)(million yen)(million yen)(million yen)(million yen)(million yen)

(5) Unrealized Gains/Losses
As of September
30, 2008% change fromMarch 31, 2008

% change from
September 30,2007(million yen)
Securities
35,935-91,922-170,538
127,858(millionyen)
24,198-26,676-103,559
50,874
Domestic stocks(millionyen)
21,937-61,558-46,269
83,495
Domestic bonds(million yen)
-12,175-2,637-16,306-9,538Foreign securities(million yen)
28,473
1,280
5,510
27,193
Real estate
Note: Real estate is for domestic real estate, including land lease right, and the amount is the level after revaluation.

206,474
127,757
68,206
4,131
22,963(6) Investment results and plans
Net increase(decrease) for the six
months ended
September 30, 2007

Domestic stocks
Domestic bonds
Foreign stocks
Foreign bonds
Real estate(million yen)(million yen)(million yen)(million yen)(million yen)Plans for the second half of the fiscal year ending march 31, 2008

179,063 Decrease
2,555,662 Increase
25,098 Flat
171,190 Decrease
79,906 Flat

(7) Level of Indices where Unrealized Gains/Losses on Assets are Break-even

Domestic stocks (NIKKEI Average）
Domestic stocks (TOPIX)
Domestic bonds
Foreign securities(Yen)(points)（％）（Yen）

As of September
30, 2008
9,688.00
935.691.5
101.82(8) Forecast for the Fiscal Year Ending March 31, 2009
Forecast
Income from insurance premiums
Core profit
Policy amount in force
Annualized premiums for policies inforce(million yen)

Increase
Increase
Increase(million yen)

Increase(million yen)(million yen)(9) Cross Holdings with Domestic Banksi) Contributions from Domestic Banks
As of September 30, 2008

Funds
Subordinated Loans and Debentures(million yen)(million yen)

None
Noneii) Contributions to Domestic Banks
As of September 30, 2008

Bank Stocks
Subordinated Loans and Debentures(million yen)(million yen)

None
None

(10) Number of Employees
As of September
30, 2008
Sales employees
Adminisitrative personnel

persons
persons

4,300
1,175% change fromMarch 31, 2008

1.2%
4.5%

% change fromSeptember 30,2007

2.4%
8.1%

As of March 31,2008

As of September
30, 2007

4,248
1,124

4,200
1,087(11) Over-the-Counter Sales through Banks （Sony Life's sales of OTC through banks are only for individual annuities products)

For six months
ended September% Change from six30, 2008
months ended
September 30,
2007

Variable annuities

Number of new policies
Insurance premiums

Fixed annuities

Number of new policies
Insurance premiums

NumberMillion Yen
NumberMillion Yen

5120
31

-78.3%-94.2%
11.1%
12.3%

Year ended
March 31,
2008

34
4450
52

Sales since start ofOTC sales throughbanks
Six months ended
September 30,
2007
From October 2002 toSeptember 2008

2323182885138161
171Appendix
Measures against reoccurrence of Non-payment issues
Of measures enacted to prevent recurrence, major measures introduced during the current fiscal year include the following.
1. From October 2008, in the event that a decision is made not to pay requested insurance claim or benefit payments, Sony Life has started
to pay customers part of the costs that they incur to acquire medical certificates.
2. In July 2008, Sony Life introduced a Claim and Benefit Request Interview Sheet and began operating a system (approximately ¥0.1billion) using this sheet.
3. Sony Life plans to change the timing of sending customers a Notice Concerning Protection. From April 2009, the company plans tobegin sending this notice several months prior to the policyholder’s birthday, providing an opportunity to enhance its after-sale service
process.
4. Sony Life has developed an extensive system to improve drastically the flow of operations when assessing payments.
- In April 2008, the company completed extensive system developments, such as major revisions to its process flow and substantial
upgrades to the precision of inputting information involving requested documents (approximately ¥1.0 billion).
- Sony Life is currently undertaking large-scale system developments to enhance the information provided at the time of payment
and to raise operational efficiency.

Holdings of Securitized Papers and Other Sub-prime Related Investments
As of September 30, 2008
Fair Value

Total securitized papers
Of which, sub-prime linkedSPEs
CDO
Other Subprime or Alt-A exposure

CMBSs
Leveraged Finance
RMBS
Credit Link Note/LoanOthers（100 millionyen）（100 millionyen）（100 millionyen）（100 millionyen）（100 millionyen）（100 millionyen）（100 millionyen）（100 millionyen）（100 millionyen）（100 millionyen）

629
（ － ）
－－－－－－－
629

Unrealized gains/losses

Gains/Losses recorded inincome

-129
（ － ）
－－－－－－－-129

12（ － ）－－－－－－－
12

As of March 31, 2008

634
（ － ）
－－－－－－－
634<Reference>Sony Life holds convertible bond repackage notes (September 30, 2008 market value of 20.2 billion yen, unrealized losses of 0.6billion yen) and principal protected 30 year bonds with Nikkei 225 index linked coupon (September 30, 2008 market value of 42.7
billion yen, unrealized losses of 12.2 billion yen.)
These amounts are included in "Net unrealized gains on other securities, (before taxes)" of Sony Life as of September 30, 2008.