What is ING?

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What is ING?

• ING is an insurer
• Largest insurer in the Benelux
• Largest insurer in Latin America
• Largest life insurer in Central Europe
• No. 2 international insurer in Asia
• No. 7 life insurer in US
• No. 5 insurer in Australia
• No. 1 non-life insurer in Canada

• and a bank
• Largest direct bank in the world
• No. 2 bank in the Netherlands
• No. 4 bank in Belgium
• No. 5 bank in Poland
• No. 10 bank in Germany

• and an asset manager
• No. 13 asset manager in the world
• More than 478 Billion AUM
• More than 700 investment funds
• No. 1 real estate developer in the world

Caption
Note YE 2003 rankings
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ING by the numbers
55 Countries 60 Million
customers 113,300 Employees 25,000
Wholesale clients 1.037 Trillion in
assets(1) 51 Billion market cap(2)
7.4 Billion earnings before tax(3)

1. As of 1Q2005
2. As of 1Q2005
3. As of 12/31/04

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Over the last decade, ING Group built up 6
distinctive strengths

• Well established banking and insurance business
  in Belgium and the Netherlands

Major beach-head in the US

• Important presence in life insurance in the US

• Very successful entry in emerging markets across
  the globe with greenfield insurance salesforce

• Unique direct banking business model as entry
  vehicle into mature retail banking markets

• ING brand is now increasingly known across the
  globe Interbrand ranking 88

Brand with global potential

• Have established position as one of the top 3
  insurers, top 15 asset managers and top 25 banks
  worldwide

Overall size
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New structure six business lines
ING Group
Insurance Americas
Insurance Europe
Insurance Asia Pacific
Wholesale Banking
Retail Banking
ING Direct

• Simple, clear and transparent
• Client focus and business logic leads
• Personal accountability and empowerment
• Short and direct reporting lines
• No management committees and executive committees
• Appropriate attention and place for growth
  engines
• Capture the benefits of the Group

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Financial results 2004

• PROFIT DEVELOPMENT
• Operating net profit up 33 to EUR 5,389 million
• Net profit up 48 to EUR 5,968 million (EPS EUR
  2.80)
• Good underlying profit development
• Healthy comparable revenue growth (11),
  comparable expenses up (6)
• Good balance of businesses

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Value creation in all business lines
Life Insurance IRR new business
Banking after-tax RAROC

• Total Banking after-tax RAROC strongly improved
  to 14.8 (12.7), above 12-target
• Healthy improvement in overall IRR of new
  business to 12.1 (10.9), above 12-target

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And delivering on our customer-centric brand
intent
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• This presentation has been approved as a template
  for one time use only. For use during this
  particular situation only.

cn53313062006.