Sewu New York posts sales growth of 200%

Sewu New York posts sales growth of 200%

Sewu New York Life recorded sales of Rp 34.19 billion for the
first half of 1999, 200 percent more than for the same period
last year. The company inaugurated today its 14th branch in
Jabotabek (Jakarta-Bogor-Tangerang-Bekasi).

Sewu New York Life's President Director, C. Donald Carden,
said "We are pleased to announce our newest branch opening as
part of an on-going strategy to maintain our lead position in the
market and to strengthen our commitment to our policyholders."

"During 1999 we have opened four new branches. We plan to open
two more by the end of this year," he said.

Already one of the top four life insurance companies in
Indonesia, it is recognized as one of the premier life insurance
companies in the industry.

With over Rp 350 billion to total investable funds, and 45
branches in 24 cities, the company is well-positioned to continue
its success.

Sewu New York Life is a joint-venture company between New York
Life International and Gunung-Sewu Kencana. New York Life is one
of the largest life insurance companies in the United States,
with over US$90 billion in total assets.

Sewu New York Life has over 1,500 agents and more than 460
employees to serve its 53,000 policyholders. The quality of its
agents is among the best in the industry, being given training to
help them develop as true professionals in the industry.