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2015-05-21

ING Group: ING Group injects EUR 57 million in NN Group to the benefit of NN Bank to fulfil EC commitment on capitalisation of NN Bank

ING Group has made a capital injection into NN Group of EUR 57 million by
subscribing for newly issued shares for an aggregate amount of EUR 57 million
and ING has provided NN Bank a EUR 63 million facility which allows the bank
to draw additional Tier 1 capital. With this provision of capital, ING Group
fulfils a commitment to the European Commission (EC) pertaining to the
capitalisation of NN Bank, which is included in the EC decision of 16
November 2012. That decision required ING Group to create a competitive bank
in the Netherlands separate from ING Group. With these transactions, ING
Group has achieved full compliance with the EC commitment on the
capitalisation of NN Bank. The transactions have no material impact on the
capital position of ING Group and no impact on the capital position of ING
Bank.

The capital injection of EUR 57 million into NN Group has been made against
the issuance of 2,178,899 ordinary shares in NN Group at a price per share of
EUR 26.16, equal to yesterday's closing share price. The shares acquired by
ING Group are not subject to a lock-up. NN Group has used the proceeds to
make a capital injection of EUR 57 million in NN Bank. As a result of this
transaction, NN Bank's phased-in common equity Tier 1 ratio has increased
from 13.8% to 15.7% on a pro-forma basis as at 31 March 2015.

The EUR 63 million facility gives NN Bank the unconditional right to draw down
additional Tier 1 capital from ING until 31 December 2018 at prevailing
market terms.

The transaction announced today raises ING's stake in NN Group slightly, to
54.8%. As announced previously, ING Group intends to divest its remaining
stake in NN Group over time, in line with its strategy to divest all of its
insurance and investment management businesses.

Note for editors

For further information on ING, please visitwww.ing.com. Frequent news updates
can be found in theNewsroomor via the@ING_newstwitter feed. Photos of ING
operations, buildings and its executives are available for download atFlickr.
Video is available onYouTube. Footage (B-roll) of ING is available
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atSlideShare.

For convenient access to the latest financial information and press releases
both online and offline, download the ING Group Investor Relations and Media
app for iOs on theApple Storeor for Android onGoogle Play.

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| Press enquiries Investor enquiries |
| Diederik Heinink ING Group Investor Relations |
|+31 20 576 2847 +31 20 576 6396 |
| diederik.heinink@ing.com Investor.Relations@ing.com |
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ING Profile

ING is a global financial institution with a strong European base, offering
banking services through its operating company ING Bank and holding a
significant stake in the listed insurer NN Group NV. The purpose of ING Bank
is empowering people to stay a step ahead in life and in business. ING Bank's
53,000 employees offer retail and commercial banking services to customers in
over 40 countries.

ING Group shares are listed (in the form of depositary receipts) on the
exchanges of Amsterdam (INGA NA, ING.AS), Brussels and on the New York Stock
Exchange (ADRs: ING US, ING.N).

Sustainability forms an integral part of ING's corporate strategy, which is
evidenced by ING Group shares being included in the FTSE4Good index and in
the Dow Jones Sustainability Index (Europe and World) where ING is the
industry leader in the diversified financials group.

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| Important legal information |
| |
| |
|Certain of the statements contained in this document are not historical facts, |
|including, without limitation, certain statements made of future expectations |
|and other forward-looking statements that are based on management's current |
|views and assumptions and involve known and unknown risks and uncertainties |
|that could cause actual results, performance or events to differ materially |
|from those expressed or implied in such statements. Actual results, |
|performance or events may differ materially from those in such statements due |
|to, without limitation: (1) changes in general economic conditions, in |
|particular economic conditions in ING's core markets, (2) changes in |
|performance of financial markets, including developing markets, (3) |
|consequences of a potential (partial) break-up of the euro, (4) the |
|implementation of ING's restructuring plan to separate banking and insurance |
|operations, (5) changes in the availability of, and costs associated with, |
|sources of liquidity such as interbank funding, as well as conditions in the |
|credit markets generally, including changes in borrower and counterparty |
|creditworthiness, (6) the frequency and severity of insured loss events, (7) |
|changes affecting mortality and morbidity levels and trends, (8) changes |
|affecting persistency levels, (9) changes affecting interest rate levels, |
|(10) changes affecting currency exchange rates, (11) changes in investor, |
|customer and policyholder behaviour, (12) changes in general competitive |
|factors, (13) changes in laws and regulations, (14) changes in the policies |
|of governments and/or regulatory authorities, (15) conclusions with regard to |
|purchase accounting assumptions and methodologies, (16) changes in ownership |
|that could affect the future availability to us of net operating loss, net |
|capital and built-in loss carry forwards, (17) changes in credit-ratings, |
|(18) ING's ability to achieve projected operational synergies and (19) the |
|other risks and uncertainties detailed in the risk factors section contained |
|in the most recent annual report of ING Groep N.V. |
| |
|Any forward-looking statements made by or on behalf of ING speak only as of |
|the date they are made, and, ING assumes no obligation to publicly update or |
|revise any forward-looking statements, whether as a result of new information |
|or for any other reason. This document does not constitute an offer to sell, |
|or a solicitation of an offer to buy, any securities. |
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ING Group injects EUR 57 million in NN Group
http://hugin.info/130668/R/1923073/689593.pdf

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: ING Group via Globenewswire

HUG#1923073

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