Ageas Hybrid Financing : Regulated information - Ageas Hybrid Financing announces confirmation that the New Financing Condition

   Ageas Hybrid Financing : Regulated information - Ageas Hybrid Financing
announces confirmation that the New Financing Condition to the Tender Offer is
                                  fulfilled

On 6  March 2013  Ageas  Hybrid Financing  (formerly  known as  Fortis  Hybrid 
Financing) ("AHF")  announced  its intention  to  invite the  holders  of  its 
€500,000,000 5.125% Perpetual  Securities (the "Securities")  to tender  their 
Securities for purchase for cash (such invitation the "Offer").

The Offer was made on the terms and  subject to the conditions set out in  the 
Tender Offer Memorandum dated  6 March 2013  (the "Tender Offer  Memorandum"). 
Capitalised terms used in  this announcement but not  defined herein have  the 
meanings given to them in the Tender Offer Memorandum.

On 14 March 2013 AHF announced  the Tender Offer results and Final  Acceptance 
Amount (€163,636,000).

Following the settlement today by AG Insurance  SA/NV of the issue of the  New 
Securities in an  amount of USD  550 million  at an initial  interest rate  of 
6.75% (to  be reset  every 6  years),  AHF announces  that the  New  Financing 
Condition has been fulfilled.

Settlement of the Purchase Price and the Accrued Interest Payment is  expected 
to take place on 22March2013. After settlement of the Offer, €336,364,000 of
the Securities will remain outstanding.

J.P. Morgan Securities plc and UBS Limited acted as Joint Dealer Managers  and 
Lucid Issuer Services Limited acted as Tender Agent.

For further information in relation to the Offer please contact:

                            JOINT DEALER MANAGERS
      J.P. Morgan Securities plc                      UBS Limited
            25 Bank Street                         1 Finsbury Avenue
             Canary Wharf                          London, EC2M 2PP
            London, E14 5JP                         United Kingdom
            United Kingdom
                                              Telephone: +44 20 7567 0525
     Telephone: +44 20 7134 2468 /       Attention: Liability Management Group
           +44 20 7134 3414                             Email:
      Attention: FIG Syndicate /            OL-liability-management@ubs.com
         Liability Management
  Email: FIG_Syndicate@jpmorgan.com /
         emea_lm@jpmorgan.com

For further information in relation to settlement of the Offer please contact:


                                 TENDER AGENT
                        Lucid Issuer Services Limited
                                 Leroy House
                                436 Essex Road
                                London N1 3QP
                                United Kingdom

              For information by telephone: +44 (0)20 7704 0880
                          Attention: Thomas Choquet
                          Email: ageas@lucid-is.com

DISCLAIMER This announcement must be read in conjunction with the Tender Offer
Memorandum.

Neither this  announcement  nor the  Tender  Offer Memorandum  constitutes  an 
invitation to participate in the Offer in any jurisdiction in which, or to any
person to or from whom, it is unlawful to make such invitation or for there to
be such participation  under applicable securities  laws. The distribution  of 
this announcement or the Tender Offer Memorandum in certain jurisdictions  may 
be restricted by law. Persons into  whose possession this announcement or  the 
Tender Offer Memorandum  come are required  by each of  AHF, the Joint  Dealer 
Managers and the Tender Agent to inform themselves about, and to observe,  any 
such restrictions.
Nothing in this announcement constitutes an offer to sell or the  solicitation 
of an  offer to  buy the  New Securities  in the  United States  or any  other 
jurisdiction. No  action has  been or  will be  taken in  any jurisdiction  in 
relation to the New Securities to permit a public offering of securities.

Nothing in this announcement constitutes an offer to sell or the  solicitation 
of an  offer to  buy the  New Securities  in the  United States  or any  other 
jurisdiction. No  action has  been or  will be  taken in  any jurisdiction  in 
relation to the New Securities to permit a public offering of securities.

Ageas Hybrid  Financing S.A.  is  a fully  owned  Ageas company  with  limited 
liability under Luxembourg law registered  in Luxembourg with the Register  of 
Commerce and Companies under number R.C.S. Luxembourg B116.671. The object  of 
AHF is  the  issuing  of  securities  ranking  pari  passu  among  themselves, 
qualifying as solvency  for ageasSA/NV  and the  group of  companies it  owns 
and/or controls (the  "Ageas Group")  and to on-lend  proceeds in  instruments 
issued or loans  entered into by  any of the  Ageas Group operating  companies 
that qualify as solvency for such Group entity, with the exclusion of ordinary
shares.

Ageas Hybrid Financing S.A.
65 Boulevard Grande-Duchesse Charlotte
L-1331 Luxembourg

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