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2015-05-21

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

NN Group announced today that ING Group has made a capital injection of EUR 57
million into NN Group by subscribing for newly issued shares for an aggregate
amount of EUR 57 million and has through ING Bank provided a EUR 63 million
additional Tier 1 capital facility to NN Bank to fulfill a commitment to the
European Commission (EC) pertaining to the capitalisation of NN Bank. This
commitment was included in the EC decision of 16 November 2012. The decision
requires ING Group to create a competitive bank in the Netherlands separate
from ING Group.

In order to meet the EC commitment, ING Group has made a capital injection of
EUR 57 million into NN Group against the issuance of 2,178,899 ordinary
shares in NN Group reflecting a price per share of EUR 26.16, equal to
yesterday's closing share price. The shares acquired 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.

In addition, ING Bank has provided NN Bank with a facility, under which NN
Bank has the unconditional right to draw down additional Tier 1 capital from
ING Bank up to an amount of EUR 63 million until 31 December 2018 at
prevailing market terms.

Previous statements in relation to NN Group's and NN Bank's capital position
remain unaffected. NN Group's dividend policy remains unchanged. Capital
generated in excess of NN Group's capital ambition is expected to be returned
to shareholders unless it can be used for any other appropriate corporate
purposes, including investments in value creating corporate opportunities. NN
Group is committed to distributing excess capital in a form which is most
appropriate and efficient for shareholders at that specific point in time,
such as special dividends or share buy backs which may include a repurchase
of part of ING Group's shareholding in NN Group.

Following the capital injection, ING Group's stake in NN Group has increased
slightly to 54.8%. With the transactions, ING Group has achieved full
compliance with the EC commitment on the capitalisation of NN Bank.

NN Bank offers a range of banking products in the Netherlands that are
complementary to NN's life and non-life insurance products, including
mortgages and savings products.

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| Press enquiries NN Group Investor enquiries NN Group |
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|Daphne Andriesse Investor Relations |
|+31 (0) 20 541 5582 +31 (0)20 541 5464 |
|daphne.andriesse@nn-group.com investor.relations@nn-group.com |
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NN Group profile

NN Group is an insurance and investment management company with a strong,
predominantly European presence in more than 18 countries. With around 12,000
employees the group offers retirement services, insurance, investments and
banking to more than 15 million customers. NN Group includes
Nationale-Nederlanden, NN (formerly known as ING Insurance) and NN Investment
Partners (formerly known as ING Investment Management). NN Group is listed on
Euronext Amsterdam (NN).

Important legal information
NN Group's Consolidated annual accounts are prepared in accordance with
International Financial Reporting Standards as adopted by the European Union
("IFRS-EU") and with Part 9 of Book 2 on the Dutch Civil Code.
In preparing the financial information in this document, the same accounting
principles are applied as in the 2014 NN Group Consolidated annual accounts.
All figures in this document are unaudited. Small differences are possible in
the tables due to rounding . Certain of the statements contained herein 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 NN Group'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 the EC Restructuring Plan, (5) changes in the availability
of, and costs associated with, sources of liquidity as well as conditions in
the credit markets generally, (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 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
and financial strength ratings, (18) NN Group's ability to achieve projected
operational synergies and (19) the other risks and uncertainties contained in
recent public disclosures made by NN Group and/or related to NN Group.
Any forward-looking statements made by or on behalf of NN Group speak only as
of the date they are made, and, NN Group 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 purchase, any securities in
the United States or any other jurisdiction. The securities of NN Group have
not been and will not be registered under the U.S. Securities Act of 1933, as
amended (the "Securities Act"), and may not be offered or sold within the
United States absent registration or an applicable exemption from the
registration requirements of the Securities Act.

NN Group press release
http://hugin.info/160538/R/1923079/689609.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: NN Group NV via Globenewswire

HUG#1923079

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