Further to the announcement on 16 May 2007, ING Groep NV announces the start of the EUR 5.0 billion open market share buyback programme as of today. At the current share price, this represents approximately 6,8% of the total shares outstanding.
The purpose of the share buy-back programme is to further optimise the capital structure of the Group, reduce the cost of capital and improve earnings per share, while retaining sufficient capital to fund the significant growth we have in our businesses as well as small bolt-on acquisitions and an attractive dividend.
The repurchase programme is expected to continue for 12 months. ING will provide weekly an update on the progress of the share buy back programme on www.ing.com/investorrelations.
The company intends to cancel the shares that it receives upon cancellation of the depository receipts acquired, for which it will seek shareholder approval at the next annual general meeting of shareholders in 2008.
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Press enquiries:
Carolien van der Giessen, ING Group, +31 20 541 6522,
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ING is a global financial institution of Dutch origin offering banking, insurance and asset
management to over 60 million private, corporate and institutional clients in more than 50 countries.
With a diverse workforce of about 120,000 people, ING comprises a broad spectrum of
prominent companies that increasingly serve their clients under the ING brand.
