ING Group: Update on leadership changes at ING

                ING Group: Update on leadership changes at ING

ING announced today that, as proposed in February 2013 and approved by the
Annual General Meeting in May 2013, Ralph Hamers has succeeded Jan Hommen as
CEO of ING Group."It is an honour to follow in the footsteps of Jan, who has
shown great determination and personal commitment in the most testing times
for ING. On behalf of all at ING, I want to thank him again for leaving us
with a stronger, simpler and more customer focused company. It is now up to us
to take ING into the next phase - for the bank as well as for our insurance
and investment management businesses," Ralph Hamers said.

As the European Insurance and Investment Management businesses continue to
work towards a stand-alone future with the aim of being ready for a base case
Initial Public Offering (IPO) in 2014, the governance of ING Insurance has
been adapted as of today. Lard Friese has been appointed vice-chairman of ING
Insurance. In this new role he is responsible for business strategy,
performance and day-to-day operations of ING Insurance. As vice-chairman of
ING Insurance, Lard Friese will report to Ralph Hamers who as CEO of ING Group
is also chairman of the Management Board Insurance.

Lard Friese currently is member of the Management Board Insurance EurAsia and
in that role responsible for the European Insurance and Investment Management
businesses. Delfin Rueda, Doug Caldwell and Dorothee van Vredenburch, also
members of the Management Board Insurance EurAsia, have also been appointed to
the Management Board Insurance in their respective roles, reporting to Lard
Friese. The governance changes have become effective as of today.

"These appointments are an important and logical step in the preparations for
a successful IPO. I am confident that in this period of change, Lard, with his
longstanding expertise in the international insurance industry, will lead this
business forward," Ralph Hamers said. "The strong executive team, is
determined to continue to build an agile organisation that is able to drive
change and performance while keeping our customers as the highest priority."

As announced earlier, in order to expedite the IPO process, ING U.S. has been
transferred out of ING Insurance to ING Group per 30 September 2013, clearing
the way to use ING Insurance (ING Verzekeringen N.V.) as the IPO entity.

Following the leadership changes, the composition of the Executive Board, the
Management Board Banking and the Management Board Insurance will be as

Executive Board
- Ralph Hamers, Chief Executive Officer
- Patrick Flynn, Chief Financial Officer
- Wilfred Nagel, Chief Risk Officer

Management Board Banking
- Ralph Hamers, CEO
- Koos Timmermans, vice-chairman
- Patrick Flynn, CFO
- Wilfred Nagel, CRO
- William Connelly, CEO Commercial Banking
- Eli Leenaars, CEO Retail Banking Direct and International
- Hans van der Noordaa, CEO Retail Banking Benelux

Management Board Insurance
- Ralph Hamers, CEO
- Lard Friese, vice-chairman
- Patrick Flynn, CFO
- Wilfred Nagel, CRO
- Delfin Rueda, CFO Insurance
- Doug Caldwell, CRO Insurance
- Dorothee van Vredenburch, corporate development, HR, communications

In a special edition of, ING's quarterly online magazine, Ralph
Hamers discusses customers, trust, innovation, courage and more in a video
interview. The edition, released today, also highlights Jan Hommen'syears as
CEO and can be found

Editors can visit the media kit at ing.comfor pictures of ING's board members
that are free to use. Footage (B-roll) of ING head offices and branches can be
downloaded, or requested by emailing

Press enquiries ING Group      Investor enquiries
Raymond Vermeulen               ING Group Investor Relations
+31 20 576 6369                 +31 20 576 6396
Press enquiries ING Insurance

Ingeborg Klunder

+31 20 576 6371

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.

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Source: ING Group via Thomson Reuters ONE
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