Fortis Finance Bondholders Can Opt for Early Redemption

• Press Release
• Source: FORTIS
• On 1:39 pm EST, Monday December 8, 2008

BRUSSEL, BELGIUM--(MARKET WIRE)--Dec 8, 2008 -- Further to information provided in the context of the general shareholders meeting held in Brussels on 2 December, Fortis wishes to clarify the position of holders of bonds issued by Fortis Finance N.V. under its Euro Medium Term Note Program.

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Fortis confirms that, under the terms of the bonds and given the recent structural changes to the Fortis group, holders of Fortis Finance bonds have the opportunity to demand the early redemption of their claim in accordance with Conditions 7(a)(vii) and 7(a)(ix) of the Terms and Conditions. For all bonds other than credit-linked notes, such redemption will proceed at nominal amount increased with accrued interest until the date of effective payment.

Investors in Fortis Finance bonds who wish to be redeemed are advised to proceed through their customary bank channel or financial intermediary from 16 December 2008.

The total amount of bonds outstanding under the EUR 15.0 billion Euro Medium Term Note Program today stands at EUR 7.6 billion.

Fortis holding (Fortis SA/NV and Fortis N.V.) will, after the conclusion of the deal with BNP Paribas, include only (1) international insurance activities, (2) a 66% stake in a structured credit portfolio entity and (3) financial assets and liabilities of various financing vehicles.

The international insurance activities (Fortis Insurance International) are located in UK, France, Hong Kong, Luxembourg (Non-Life), Germany, Turkey, Russia, and Ukraine, and in joint ventures in Luxembourg (Life), Portugal, China, Malaysia, India and Thailand.

Fortis holding is therefore no longer involved in any banking activities, and once the deal with BNP Paribas is concluded, will concern only international insurance activities.

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

Copyright © Hugin AS 2008. All rights reserved.

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