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Statement by Fortis holding on the ruling of the Enterprise Chamber

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2008-11-25 09:28

The Fortis holding notes the ruling of the Enterprise Chamber on the petition of the Dutch Investors’ Association (VEB) to instigate an inquiry into the policy and the course of events at Fortis N.V. and to impose certain immediate court orders.rn rnThe Enterprise Chamber has rejected all requests for immediate court orders. This means that Fortis holding can go ahead with preparations for the General Meetings of Shareholders planned for 1 and 2 December 2008. During these meetings Fortis will give an insight into the developments of recent months, as mentioned in the agenda published on 8 November. In that context, Fortis last week published a comprehensive shareholder circular and an interim management statement, both of which are available on www.fortis.com rn rnThe Enterprise Chamber has decided to instigate an inquiry into the policy and the course of events at Fortis N.V. Fortis will naturally fully cooperate with this inquiry. rn rnThe ruling of the Enterprise Chamber is published on www.fortis.com.rn rnFortis holding (Fortis SA/NV and Fortis N.V.) will, after the conclusion of the deal with BNP Paribas, include only (1) international insurance activities, (2) a 66% stake in a structured credit portfolio entity and (3) financial assets and liabilities of various financing vehicles.rn rnThe international insurance activities (Fortis Insurance International) are located in UK, France, Hong Kong, Luxembourg (Non-Life), Germany, Turkey, Russia, and Ukraine, and in joint ventures in Luxembourg (Life), Portugal, China, Malaysia, India and Thailand. rn rnFortis holding is therefore no longer involved in any banking activities, and once the deal with BNP Paribas is concluded, will concern only international insurance activities.

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