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Van Lanschot: Delta Lloyd announces successful sale and pricing of its shareholding in Van Lanschot


Amsterdam / 's-Hertogenbosch, the Netherlands, 9 June 2016

Offering highlights

* Offer price of €16.00 per Offer DR (the "Offer Price")

* 11,272,729 depositary receipts (the "Offer DRs") held by Delta Lloyd (as
defined below) have been allotted (the "Offering"), leading to a total
offering size of €180.4 million, assuming no exercise of the over-allotment
option[1], which would increase to €198.4 million if the over-allotment
option would be exercised in full

* The Offering has been several times oversubscribed and attracted both high
quality institutional investors as well as large interest from Dutch retail

* The Offering is part of Delta Lloyd's plan of management actions and
capital measures. The net proceeds will deliver an uplift of c. 8%points to
Delta Lloyd's solvency ratio, which will then be at 162% on a pro-forma

* Members of the Executive Board of Van Lanschot N.V. (the "Company" or "Van
Lanschot") subscribed for an aggregate amount of €1,060,000, which has been
allocated in full

* This press release also serves as a pricing statement and has been
deposited with the Dutch Authority for the Financial Markets (Stichting
Autoriteit Financiële Markten ; "AFM"). The press release is also available
on the Company's and Delta Lloyd's website

Hans van der Noordaa, chairman of Delta Lloyd's Executive Board: "The
successful sale of our stake in Van Lanschot delivers an uplift of 8%point to
our solvency ratio and will bring our solvency ratio to 162%, which is in the
upper half of our target range. We are clearly delivering on our capital plan
and we will maintain our focus on generating capital, which creates value for
all our stakeholders. I am confident Van Lanschot's shareholders will benefit
from the increased free float and we wish the company and its stakeholders
all the best for the future."

Karl Guha, chairman of Van Lanschot's Executive Board: "We are very pleased
with this outcome. We have been able to attract strong interest from
institutional and retail investors. Our new, high quality shareholder base
buys into our strategy and positioning of an independent, specialised wealth
management firm. The stock, the company and our shareholders will benefit
from the increased liquidity. We thank Delta Lloyd for being a loyal
shareholder for more than four decades and wish them well."
---------------------------------------[1]The Joint Global Coordinators have been granted an over-allotment option of
up to 10% of the total number of Offer DRs sold in the Offering, pursuant to
which the Joint Global Coordinators may require Delta Lloyd to sell at the
Offer Price up to 1,127,271 existing depositary receipts ("Additional DRs")
in the aggregate held by Delta Lloyd, exercisable until July 8, 2016

To read the full press release, please go

More information about this press release:

Delta Lloyd

Media Relations
+31 20 594 44 88,

Investor Relations
+31 20 594 96 93

Van Lanschot

+31 20 354 4585

Investor Relations
+31 20 354 4590

About Delta Lloyd

Delta Lloyd NV provides life insurance, pensions, general insurance, asset
management and banking products and services to 4.2 million customers in the
Netherlands and Belgium. Delta Lloyd uses multiple channels to distribute its
products and services under well-known and respected brands: Delta Lloyd,
BeFrank, OHRA and ABN AMRO Insurance. Delta Lloyd has 4,130 full-time
employees, of which 3,647 are in the Netherlands and 483 in Belgium. Delta
Lloyd is listed on Euronext Amsterdam and Brussels.

About Van Lanschot

Van Lanschot NV is the holding company of F. van Lanschot Bankiers NV, the
oldest independent bank in the Netherlands with a history dating back to
1737. Van Lanschot, a wealth manager operating under the Van Lanschot and
Kempen&Co brand names, is active in Private Banking, Asset Management and
Merchant Banking, with the aim of preserving and creating wealth for its
clients. Van Lanschot NV is listed on Euronext Amsterdam.

DisclaimerThe contents of this announcement have been prepared by and are the sole
responsibility of Delta Lloyd and Van Lanschot N.V. (the Company). The
information contained in this announcement is for background purposes only
and does not purport to be full or complete. No reliance may be placed by any
person for any purpose on the information contained in this announcement or
its accuracy, fairness or completeness.

These materials are not for release, distribution or publication, whether
directly or indirectly and whether in whole or in part, into or in the United
States, Canada, Australia, South Africa or Japan or any (other) jurisdiction
where to do so would constitute a violation of the relevant laws of such

These materials are for information purposes only and are not intended to
constitute, and should not be construed as, an offer to sell or a
solicitation of any offer to buy the securities of the Company, and such
securities (the Securities) in the United States, Canada, Australia, South
Africa or Japan or in any other jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration, exemption from
registration or qualification under the securities laws of such jurisdiction.

The Securities are not 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
in the United States absent registration or an exemption from the
registration requirements of the Securities Act. The Company has no intention
to register any part of the offering in the United States or make a public
offering of Securities in the United States.

In the United Kingdom, this document and any other materials in relation to
the Securities is only being distributed to, and is only directed at, and any
investment or investment activity to which this document relates is available
only to, and will be engaged in only with, "qualified investors" (as defined
in section 86(7) of the Financial Services and Markets Act 2000) and who are
(i) persons having professional experience in matters relating to investments
who fall within the definition of "investment professionals" in Article 19(5)
of the Financial Services and Markets Act 2000 (Financial Promotion) Order
2005 (the Order); or (ii) high net worth entities falling within Article
49(2)(a) to (d) of the Order (all such persons together being referred to as
"relevant persons"). Persons who are not relevant persons should not take any
action on the basis of this document and should not act or rely on it.

The Company has not authorised any offer to the public of Securities in any
Member State of the European Economic Area other than the Netherlands. With
respect to any Member State of the European Economic Area, other than the
Netherlands, which has implemented the Prospectus Directive (each a Relevant
Member State), no action has been undertaken or will be undertaken to make an
offer to the public of Securities requiring publication of a prospectus in
any Relevant Member State. As a result, the Securities may only be offered in
Relevant Member States (i) to any legal entity which is a qualified investor
as defined in the Prospectus Directive; or (ii) in any other circumstances
falling within Article 3(2) of the Prospectus Directive. For the purpose of
this paragraph, the expression "offer of securities to the public" means the
communication in any form and by any means of sufficient information on the
terms of the offer and the Securities to be offered so as to enable the
investor to decide to exercise, purchase or subscribe for the Securities, as
the same may be varied in that Member State by any measure implementing the
Prospectus Directive in that Member State and the expression "Prospectus
Directive" means Directive 2003/71/EC (and amendments thereto, including
Directive 2010/73/EU, to the extent implemented in the Relevant Member
State), and includes any relevant implementing measure in the Relevant Member

No action has been taken by the Company that would permit an offer of
Securities or the possession or distribution of these materials or any other
offering or publicity material relating to such Securities in any
jurisdiction where action for that purpose is required.

The release, publication or distribution of these materials in certain
jurisdictions may be restricted by law and therefore persons in such
jurisdictions into which they are released, published or distributed, should
inform themselves about, and observe, such restrictions.

This announcement does not constitute a prospectus. Any offer to acquire
Securities pursuant to the Offering is made, and any investor should make
his investment, solely on the basis of information that is contained in the
prospectus prepared in connection with the Offering. Copies of the prospectus
may be obtained at no cost from the Company, Kempen&Co N.V. or through the
website of the Company.

Any purchase of Securities in the Offering should be made solely on the basis
of the information contained in the prospectus. The information in this
announcement is subject to change.

Acquiring investments to which this announcement relates may expose an
investor to a significant risk of losing all of the amount invested. Persons
considering making such investments should consult an authorised person
specialising in advising on such investments. This announcement does not
constitute a recommendation concerning the Offering. The value of shares can
decrease as well as increase. Potential investors should consult a
professional advisor as to the suitability of the Offering for the person

In connection with the Offering of the Securities, Goldman Sachs
International, UBS Limited, Merrill Lynch International, ABN AMRO Bank N.V.,
Kempen&Co N.V. and Kepler Cheuvreux S.A., and any of their affiliates, may
take up a portion of the Securities in the Offering as a principal position
and in that capacity may retain, purchase, sell, offer to sell for their own
accounts such Securities and other securities of the Company or related
investments in connection with the Offering or otherwise. Accordingly,
references in the prospectus, to the Securities being issued, offered,
subscribed, acquired, placed or otherwise dealt in should be read as
including any iss...

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