ING GROEP : closes sale of its Asian Private Banking business

ING announced today that it has completed the sale of its Asian Private Banking
business to Oversea-Chinese Banking Corporation Limited (OCBC Bank). OCBC Bank
is Singapore's longest established local bank and offers a wide range of
specialist financial services.

As announced on 15 October 2009, the divestment is in line with ING's Back to
Basics strategy tofocus on fewer franchises and reduce the complexity of the
group.

The transaction will generate an estimated net profit for ING of approximately
EUR 300 million.
ING remains active in Asia with retail banking, insurance, commercial banking,
investment management and real estate.


INGwill continue its private banking activities in China through the stakes in
Bank of Beijing, in India through ING Vysya Bank and in Thailand through TMB
Bank. ING Private Banking activities in the Benelux and in Central Eastern
Europe belong to ING's core businesses.




 Press Enquiries                                      Investor Enquiries

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ING Profile
ING is a global financial institution of Dutch origin offering banking,
investments, life insurance and retirement services. As of 30 September 2009,
ING served more than 85 million private, corporate and institutional clients in
more than 40 countries. With a diverse workforce of about 110,000 people, ING is
dedicated to setting the standard in helping our clients manage their financial
future.

IMPORTANT LEGAL INFORMATION
Certain of the statements contained herein are statements of future expectations
and other forward-looking statements. These expectations are based on
management's current views and assumptions and involve known and unknown risks
and uncertainties. Actual results, performance or events may differ materially
from those in such statements due to, among other things, (i) general economic
conditions, in particular economic conditions in ING's core markets, (ii)
performance of financial markets, including developing markets, (iii) the
implementation of ING's restructuring plan to separate banking and insurance
operations, (iv) 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, (v) the frequency and severity of insured loss events, (vi)
mortality and morbidity levels and trends, (vii) persistency levels, (viii)
interest rate levels, (ix) currency exchange rates, (x) general competitive
factors, (xi) changes in laws and regulations, (xii) changes in the policies of
governments and/or regulatory authorities, (xiii) conclusions with regard to
purchase accounting assumptions and methodologies, (xiv) changes in ownership
that could affect the future availability to us of net operating loss, net
capital loss and built-in loss carryforwards, and (xv) ING's ability to achieve
projected operational synergies. ING assumes no obligation to update any
forward-looking information contained in this document.



[HUG#1378406]





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