ING Group : ING U.S. files update of IPO registration statement

       ING Group : ING U.S. files update of IPO registration statement

ING announced today that ING U.S., Inc., its U.S.-based retirement, investment
and insurance business, has filed an update of its registration statement
with the U.S. Securities and Exchange Commission (SEC) in connection with its
proposed Initial Public Offering (IPO).

ING has previously announced it is divesting its insurance and investment
management businesses as part of a restructuring programme agreed with the
European Commission. While all options for divestment remain open, the base
case for the divestment of ING U.S. is through an IPO. In this context, ING
U.S. filed an initial registration statement with the SEC in November 2012 and
amendments to that registration statement in both January and March 2013.

The amendment filed today includes, amongst others, further disclosure on ING
U.S.'s recapitalization plan. For instance, it is the intention of ING U.S. to
raise USD 600 million from a primary offering in the proposed IPO to partly
offset the cancellation of a USD 1.5 billion contingent funding facility by
ING Bank. There will also be a secondary offering of shares in ING U.S. by
parent company ING Group. The size of this secondary offering has not yet been

Today's amended registration statement may be obtained by visiting the SEC
website at The registration statement has not yet become
effective. The securities to which it relates may not be sold nor may offers
to buy be accepted prior to the time the registration statement becomes
effective. This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, any securities, nor shall there be any offer,
solicitation or sale of any securities in any state in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state.

Press enquiries                             Investor enquiries
Victorina de Boer                           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 or referenced 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

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Source: ING Group via Thomson Reuters ONE
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