ING Group : ING agrees to sell part of its stake in SulAmérica

        ING Group : ING agrees to sell part of its stake in SulAmérica

ING announced today that it has agreed to reduce its 36.5% stake in Sul
América S.A. (SulAmérica) through a transaction with the Larragoiti Family,
which is a majority shareholder and ING's joint-venture partner in SulAmérica.
Following the closing of the transaction, which also includes a share-swap,
ING will hold a direct stake of just under 30% in SulAmérica, which is listed
on the BM&FBovespa. The existing shareholders' agreement with the Larragoiti
Family will be terminated at closing, however, the shares comprising ING's
direct stake in SulAmérica have today been released from the restrictions of
the shareholders' agreement. The market value of the remaining 30% stake is
approximately EUR 620 million based on the closing share price of 27 February
2013.

ING entered into the joint-venture with the Larragoiti Family in 2002 and has
contributed to the successful development of SulAmérica for more than ten
years. Following the transaction, ING will continue to contribute to the
success of SulAmérica through its participation in the board of directors. The
transaction, announced today, is part of the ING Group restructuring plan for
the divestment of all its Insurance and Investment Management operations as
agreed upon with the European Commission. ING will review options for the
divestment of its remaining 30% stake as 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 second half of 2013.

SulAmérica is the largest independent insurance group in Brazil, with
operations in diverse insurance lines. Its business lines are supported by
diversified distribution capabilities that, as of December 2011 included a
network of more than 30,000 independent insurance brokers. SulAmérica also has
partnerships with more than 20 financial- and retail institutions, adding a
further 16,000 points of sale.



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ING PROFILE
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
operations
IMPORTANT LEGAL INFORMATION
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 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.

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