ING Group : ING to sell its interest in ING Vysya Life Insurance

       ING Group : ING to sell its interest in ING Vysya Life Insurance

ING announced today it has agreed to sell its 26% interest in ING Vysya Life
Insurance Company Ltd. to its joint venture partner Exide Industries Ltd. 

ING's exit from the Indian life insurance joint venture is part of the
previously announced intended divestment of ING's Asian Insurance and
Investment Management businesses. The process for the remaining businesses is
on-going. Any further announcements will be made if and when appropriate.

The transaction announced today is not expected to have a material impact on
ING Group results. Subject to regulatory approvals, the transaction is
expected to close in the first half of 2013. Today's agreement does not impact
ING Vysya Bank, a publicly listed Indian bank in which ING has a 44% stake,
nor ING's fund management business in the country.

ING Vysya Life Insurance has over a decade of experience serving more than one
million customers in over 200 cities in India. Headquartered in Bangalore, ING
Vysya Life Insurance distributes its products through more than 30,000 ING
Life Insurance Advisors, bancassurance partner ING Vysya Bank, Referral
Partners, Corporate Agents and Brokers.

Exide Industries is India's largest producer of automotive and industrial
batteries, with seven manufacturing plants strategically located across the
country. Exide Industries has been a shareholder of ING Vysya Life Insurance
since 2005.

Press enquiries            Investor enquiries
Victorina de Boer          ING Group Investor Relations
+31 20 57 66373            +31 20 57 66396

ING is a global financial institution of Dutch origin, offering banking,
investments, life insurance and retirement services to meet the needs of a
broad customer base. Going forward, we will concentrate on our position as an
international retail, direct and commercial bank, while creating an optimal
base for an independent future for our insurance and investment management

Certain of the statements contained in this document 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 ING'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 ING's restructuring plan to separate banking and insurance
operations, (5) changes in the availability of, and costs associated with,
sources of liquidity such as interbank funding, as well as conditions in the
credit markets generally, including changes in borrower and counterparty
creditworthiness, (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 purchase
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-ratings, (18) ING's
ability to achieve projected operational synergies and (19) the other risks
and uncertainties detailed in the risk factors section contained in the most
recent annual report of ING Groep N.V.

Any forward-looking statements made by or on behalf of ING speak only as of
the date they are made, and, ING 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 buy, any securities.

Pdf version of press release


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information contained therein.

Source: ING Group via Thomson Reuters ONE
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