Amsterdam, 16 September 2008

ING announced today that, in light of the exceptional turbulence in global financial markets, it wants to inform its stakeholders that the total direct impact of Lehman Brothers’ Chapter 11 filing on ING’s profit and loss account is estimated to be around EUR 100 million on a pre-tax basis:
 

• The gross lending and bond exposure is approximately EUR 200 million. Taking into account hedges and collateral, the expected impact of these positions on the pre-tax P&L is around EUR 40 million.
   
• ING is currently executing an orderly settlement of transactions and is in the process of replacing derivative positions. ING estimates the impact of these actions at around EUR 60 million on the pre-tax P&L, based on current market prices.

Press enquiries

Raymond Vermeulen
ING
+31 20 541 5682
Raymond.Vermeulen@ing.com

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