Information on the new structure of Fortis SA/NV and Fortis N.V.14 October 2008
This announcement relates to Fortis SA/NV and Fortis N.V. (Fortis), listed on Euronext. After the closing of the announced transactions, it will no longer include the Banking and Insurance activities that have been acquired by the Dutch and Belgian States and of which the non-Dutch activities will be acquired by BNP Paribas subsequently. As a result of these steps, Fortis has undergone a complete metamorphosis. Fortis always operated as an integrated financial services company. Its financing policy was based on optimization from a Group-consolidated point of view, whilst of course respecting the regulatory requirements for the underlying entities. This has resulted in an inter-related, complex financing and reporting structure. Unravelling this is a task that cannot be done in a few days with reasonable assurance about the outcome. Particularly, risks are associated with the still unknown effects of third quarter developments on the balance sheet and income statement of Fortis in its new constellation. Nevertheless, Fortis wishes to provide information to the market to the best of its ability. The figures in this press release are non-audited pro-forma figures representing the expected impact of the recent transactions on Fortis using the last published accounts (half year 2008 results) as a basis. Third quarter result contribution or balance sheet movements are not taken into account, except when explicitly mentioned. In view of the far-reaching effects of the recent transactions, Fortis will seek to be exempted from publication of its third quarter results (originally foreseen for 3 November 2008). Fortis will publish full disclosure on the starting position of Fortis in its new constellation as soon as this can be provided. Pending this, all figures are indicative estimates and should be treated accordingly.
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