ING SR announced significant growth in 2004

17.03.2005

Strong profit growth creates sound base for investing in broadening produkt range by mutual funds, insurance riders and pension savings

Adjusted profit of insurance company grew by 32%
Total assets increased by 31.3%
Life Insurance gross written premium grew by 7.5%
ING Mutual Funds great performance; introduction of 2 new funds
ING DDP profit sharing of 9.1%

Life and Pensions

Adjusted profit grew from SKK 214 million in 2003 to SKK 283 million in 2004
Total assets increased by 27.3% from SKK 6.5 bn to SKK 8.3 bn
Assets under Management increased by 25% from SKK 6 bn to SKK 7.5 bn
Gross Written Premium grew by 7.5% to SKK 2.3 bn
ING DSS investment
ING DDP announced to its clients profit sharing of 9.1%

Retail Banking

39% growth of assets attracted by saving account ING Konto
Positive performance of newly introduced ING Mutual Funds (ING Visegrad Fund performance above 49.7 %). Total balance more than SKK 148 million.
Number of clients exceeded the level of 16 thousand

Chairman’s statement

Dick Okhuijsen, Chairman and CEO ING CR&SR Insurance ‘Our investments in profitable growth shows our long term commitment to Slovakia. ING DSS and DDP launch is a natural expansion of our life presence, which was strengthened even more by great performance of ING mutual funds. We are satisfied with our financial results keeping high profit level as one of our aims, together with the objective to double the company in 2

Priorities 2005

“As a wealthmanager offering short term to long term investment & insurance products and targeting for growth we want to expand our distribution with broker and direct channels. Next to DSS, our main priorities for 2005 are using the opportunities arising from the tax deductability of payments for financial products, transformation of DDP and possibly the implementation of legislative changes for mediators.”, said Frans van der Ent, general manager Life & Pensions ING Slovakia.