ING completes sale of NRG

ING Group announced today that it has completed the sale of its reinsurance unit NRG to Columbia Insurance Company, a subsidiary of Berkshire Hathaway Inc.. ING announced the sale of Nederlandse Reassurantie Groep N.V. on 28 December 2007 as part of its strategy to focus on its core businesses in banking, investments, life insurance and retirement services. Columbia has paid ING a total consideration of EUR 272 million. The sale has resulted in a total capital loss for ING of EUR 144 million after tax. Of this loss, EUR 129 million and EUR 17 million were reported in 2007 and the first quarter of 2008 respectively. For the second quarter ING will report a profit of EUR 2 million on the transaction. The 2008 results are predominantly caused by currency exchange rate changes. The proceeds of the sale have a positive effect on ING's spare leverage of approximately EUR 170 million. Press enquiries Raymond Vermeulen ING Group +31 20 541 5682 Profile ING ING is a global financial institution of Dutch origin offering banking, investments, life insurance and retirement services to over 75 million private, corporate and institutional clients in more than 50 countries. With a diverse workforce of about 130,000 people, ING is dedicated to setting the standard in helping our clients manage their financial future.