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2015-10-05

KBC Group: KBC Asset Management sells stake in Union KBC Asset Management to Union Bank of India

Joint press release

Outside trading hours - Regulated information*

Brussels, Mumbai, 5 October 2015 - 8.15 a.m.

KBC Asset Management sells stake
in Union KBC Asset Management
to Union Bank of India

Union Bank of India and KBC Asset Management NV have reached agreement on the
sale of KBC Asset Management's 49% stake in Union KBC Asset Management Co.
Pvt. Ltd., the joint venture established between both companies in 2009, and
Union KBC Trustee Company Pvt. Ltd. to Union Bank of India.
The transaction, which is still subject to regulatory approval in India, will
have no impact on the joint venture's client positions and product portfolio.
It will not have any material impact either on KBC Group's earnings and
capital.

Both parties agreed not to disclose any financial details about the deal.

KBC and Union Bank of India have always stated their firm belief in the
potential of the Indian market for investment funds. Nevertheless, market
developments in India have altered the financial landscape in which the joint
venture was established. KBC, together with Union Bank of India and in close
collaboration with the joint venture's management, has discussed all possible
options with a view to finding a solution which addresses the concerns of all
stakeholders.

Mr Johan Thijs, CEO KBC Group,
commented:'This agreement fits in with KBC Asset Management's strategic focus
on KBC
Group's core markets and activities. I would like to thank our Indian
clients, shareholders, staff and all other stakeholders for the trust they
have placed in KBC and look back on an interesting period during which we
were able to call upon our extensive know-how of the fund market to
contribute to the development of a new Indian market player in fund
management.'

Mr. Arun Tiwari, Chairman of Union Bank of India
reiterated the commitment of Union Bank of India towards offering a portfolio
of services to the investors under its own Brand.

Meanwhile, the management and staff of the joint venture will continue to
actively perform their functions and develop their business under the
ownership of Union Bank of India, thus ensuring that clients continue to
receive the same high level of service and state-of-the-art investment
products they have come to expect.
Note to the editor:

About Union Bank of India:

Union Bank of India is one of the largest and leading public sector banks in
India. Union Bank is mainly active in the Indian domestic market and has
international presence in select markets through branches and representatives
offices. As on June 30, 2015, the Bank had over 50 million customers, 4 082
branches across India, 3 international branches and 5 representative offices
with global business of Rs. 5.82 trillion.

About KBC Asset Management NV: www.kbcam.be

KBC Asset Management is a 100% subsidiary of KBC Group NV and a leading
Belgian asset manager with more than 60 years of market experience. It is
mainly active in KBC's home markets of Belgium and Central and Eastern
Europe, and is also present in Ireland and Luxemburg. KBC Asset Management's
entities are active in their local market and deliver research and management
services for local investment products.
On 30 June 2015, KBC Asset Management had over 200 billion euros in assets
under management and managed 1 361 investment funds for a broad range of
clients.

About KBC Group NV: www.kbc.com

KBC is one of the leading financial groups in Europe and is headquartered in
Brussels (Belgium). It is a multi-channel bank-insurance group with a
geographic focus on Europe, catering mainly to retail clients, SMEs and local
midcaps. The group occupies significant, and in some cases leading positions
in its core markets of Belgium and Central and Eastern Europe. The KBC group
has also selectively established a presence in a number of other countries
and regions around the world.
KBC is one of the largest companies in Belgium and is listed on Euronext
Brussels. The KBC group employs around 38000 staff and caters for 10 million
clients.

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| * This news item contains information that is subject to the transparency |
|regulations for listed companies. |
| KBC Group NV Press Office KBC press releases are available at |
| www.kbc.comor can be obtained by sending an e-mail to |
|Havenlaan 2 - 1080 Brussels Stef Leunens Tel. pressofficekbc@kbc.be |
| + 32 2 429 65 01 |
|Viviane Huybrecht |
| Ilse De Muyer Tel. + 32 2 429 29 15 Follow KBC onhttps://twitter.com/kbc_group |
|General Manager, |
| E-mail: |
|Corporate Communication / Spokesperson pressofficekbc@kbc.be |
| |
|Tel. + 32 2 429 85 45 |
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Press Release KBC Group dd 05-10-2015
http://hugin.info/133947/R/1956557/712673.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: KBC Groep via Globenewswire

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