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2015-05-26

ING Group: ING to sell 45 million shares in NN Group

NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR
INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR ANY OTHER JURISDICTION IN
WHICH IT WOULD BE UNLAWFUL TO DO SO.

ING announced today its intention to sell approximately 45 million ordinary
shares in NN Group. The ordinary shares will be sold by way of an accelerated
book building offering to institutional investors. As part of the
transaction, NN Group has committed to repurchase NN Group ordinary shares
from ING Group for an aggregate amount of EUR 150 million. Following a
successful completion of the transaction, ING Group's stake in NN Group's
outstanding capital is expected to decrease to approximately 42.4% from
currently 54.8%.

ING has previously announced that it 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 as part of the restructuring agreement
with the European Commission as amended on 16 November 2012, ultimately by
the end of 2016. In this context, ING Group sold shares of NN Group through
an initial public offering in July 2014 and a follow-on offering in February
2015. NN Group ordinary shares are traded on Euronext Amsterdam under the
symbol 'NN'.

The offer price and the final number of shares sold will be determined at the
conclusion of the book building process and will be announced in a separate
press release. The book is open with immediate effect and is expected to
close ultimately by 17:30 CET on 27 May 2015, although ING Group reserves the
right to close the book before then at short notice. The transaction is
expected to settle on 29 May 2015. As of the settlement date of the offering,
the remaining shares in NN Group held by ING Group will be subject to a
lock-up period of 90 days (subject to certain exceptions and the Joint Global
Coordinators and Bookrunners' right to waive the lock up restrictions).

Bank of America Merrill Lynch, Goldman Sachs, ING Bank and J.P. Morgan are
acting as Joint Global Coordinators and Bookrunners for the offering.

PDF version of Press Release
http://hugin.info/130668/R/1923976/690058.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

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