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CEO’s closing address Willy Duron Group Chief Executive and head of insurance business

5. CEO’s closing address Willy Duron Group Chief Executive and head of insurance business. Group focus and profit growth. "Realising full potential of the platform". Leading bancassurer in Belgium and CEE, delivering superior return levels. “Consolidating business platform".

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CEO’s closing address Willy Duron Group Chief Executive and head of insurance business

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  1. 5 CEO’s closing addressWilly DuronGroup Chief Executive and head of insurance business

  2. Group focus and profit growth "Realising full potentialof the platform" Leading bancassurer in Belgium and CEE, delivering superior return levels “Consolidatingbusiness platform" "Broadeningbusiness platform" • Stronger organic growth (and add-on acquisitions) • Refinement of C- programs • Profit growth • Consolidation (6 C dimensions): • Cross selling • Customersatisfaction • Canvassing affluent customers • Control of risks • Cost efficiency enhancement • Cross border synergies • Merger: • Cross sellingbanking/insurance • Cost synergies(1st phase) • Expansion to CEE: • New home markets/ acquisitions • Mitigated ‘wholesale’ profile Traditionalstrenghts: - Belgium - retail /SME 2004-… 2001-2004 Reconfirmed confidence in our strategy fundamentals 1998-2001

  3. Key figures : Price : 46.8 EUR Net Asset Value : 35.4 EUR EPS 2003: 3.68 EUR Analysts estimates : EPS 2004 consensus : 4.35 EPS 2005 consensus : 4.75 P/E forward 2 years : 10.3 Recommendations : Positive : 10 Neutral : 7 Negative : 5 Valuation still not too demanding Situation as of 31 May, 2004 Valuation relative to peer group : Unweighted IBES data : (1) OTP, Komercni, Pekao, BPH PBK, BRE (2) Top 25 of DJ Euro Stoxx banks (3) BACA, Erste, KBC, Unicredito, Soc Gen (4) KBC, Fortis, Dexia * Sources EPS forecasts for KBC: KBC (2004) and I.B.E.S. (2005)

  4. Looking forward to meeting you Willy Duron André Bergen Frans Florquin Herman Agneessens Jan Vanhevel Christian Defrancq Emile Celis Guido Segers

  5. Willy Duron André Bergen Frans Florquin Herman Agneessens • Group CEO • Head of insurance business • Deputy Group CEO • Head of banking business • Co-ordination CEE • Retail bancassurance • HRM and Communication • Group CFRO • Transaction processing • Corporate banking • West-European,US & SE Asian bank network • Retail credit • Information technology • Insurance subsidiaries • Non-life & reinsurance • Claims management • Treasury & markets • Asset Management • International credit Jan Vanhevel Christian Defrancq Emile Celis Guido Segers

  6. Contact information Investor Relations Office :Luc CoolNele KindtTel. : +32 2 429 49 16 E-mail : investor.relations@kbc.com Visit www.kbc.com for the latest update.

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