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ING Group : ING U.S. files update of preliminary prospectus



         ING Group : ING U.S. files update of preliminary prospectus

ING announced today that ING U.S., Inc., its U.S.-based retirement, investment
and insurance  business, has filed an update of its preliminary prospectus
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. In this context, ING U.S. filed an initial registration
statement with the SEC in November 2012 and amendments to that registration
statement in January, March and April. A preliminary prospectus was filed on
16 April 2013 and is also included in today's filing.

As described in the preliminary prospectus filed on 16 April 2013, ING U.S. is
in the process of preparing its consolidated U.S. GAAP financial statements
for the quarter ended 31 March 2013. The amendment filed today includes more
detailed preliminary estimates of the financial information as of and for the
three months ended 31 March 2013 regarding operating earnings and operating
ROC for the ongoing business, net flows for the Investment Management and
Retirement segments, AUM and AUA figures, results of the Closed Block Variable
Annuity hedge program and net result. 

These preliminary estimates are not a comprehensive statement of ING U.S.
financial results for this period, and actual results may differ materially
from these estimates due to the completion of financial closing procedures,
final adjustments and other developments that may arise between now and the
time that the consolidated financial statements for this period are issued.
The preliminary estimates are qualified by, and should be read together with,
"Management's Discussion and Analysis of Results of Operations and Financial
Condition" and the consolidated financial statements and the related notes
included in the preliminary prospectus dated 16 April 2013.

The preliminary estimates of the financial information included in the
amendment filed today have been prepared under U.S. GAAP. They may differ
materially from the Insurance United States results ING Group presents on the
basis of IFRS-EU. ING Group will publish its full results for the first
quarter of 2013 on 8 May 2013.

The offering of the ING U.S. shares will be made only by means of a
prospectus. Copies of the prospectus relating to the offering may be obtained
for free from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180
Varick Street, 2nd Floor, New York, NY 10014, email:
prospectus@morganstanley.com, telephone: +1 (866) 718-1649; Goldman, Sachs &
Co., Prospectus Department, 200 West Street, New York, NY 10282, telephone: +1
(866) 471-2526, facsimile: +1 (212) 902-9316 or by emailing
prospectus-ny@ny.email.gs.com; and Citigroup Global Markets Inc., c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717
(telephone: +1 (800) 831-9146).

The registration statement relating to these securities has been filed with
the U.S. Securities and Exchange commission but has not yet become effective.
These securities may not be sold nor may offers to buy be accepted prior to
the time the registration statement becomes effective. A copy of the
registration statement may be obtained by visiting the SEC website at
www.sec.gov. 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 jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction.

Press enquiries                            Investor enquiries
ING Group: Raymond Vermeulen               ING Group: Investor Relations
+31 20 57 66369                            +31 20 57 66396
Raymond.Vermeulen@ing.com                  Investor.Relations@ing.com
ING U.S.: Dana E. Ripley                   ING U.S.: Darin Arita
+1 212 309 8444                            +1 212 309 8999
Dana.Ripley@us.ing.com                     IR@us.ing.com
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 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 securities.

PDF version of press release

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This announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
the
information contained therein.

Source: ING Group via Thomson Reuters ONE
HUG#1696663
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