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Additional information

Additional information. Results first quarter 2006 ING Group. Note on accounting standards: As from 2005 figures based on full IFRS 2004 figures restated for IFRS excluding IAS 32/39 and IFRS 4 Figures prior to 2004 not restated, based on Dutch GAAP

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  1. Additional information Results first quarter 2006 ING Group Note on accounting standards: As from 2005 figures based on full IFRS 2004 figures restated for IFRS excluding IAS 32/39 and IFRS 4 Figures prior to 2004 not restated, based on Dutch GAAP 2006/2005 P&L’s restated to underlying basis: impact divestments and special items are excluded from income and expenses. Underlying profit = profit excluding divestments and special items www.ing.com

  2. Contents (1) ING Group general Underlying profit before tax 5 of 71 Profit before tax and underlying profit before tax 6 of 71 Net profit and underlying net profit 7 of 71 Insurance, pre tax impact of divestments and special items 8 of 71 Banking, pre tax impact of divestments and special items 9 of 71 Insurance, net profit impact of divestments and special items 10 of 71 Banking, net profit impact of divestments and special items 11 of 71 P&L Insurance 12 of 71 P&L Insurance Europe 13 of 71 P&L Insurance Americas 14 of 71 P&L Insurance Asia/Pacific 15 of 71 P&L Banking 16 of 71 P&L Wholesale Banking 17 of 71 P&L Retail Banking 18 of 71 P&L ING Direct 19 of 71 Insurance Europe, impact divestments and special items 20 of 71 Insurance Americas, impact divestments and special items 21 of 71 Insurance Asia/Pacific, impact divestments and special items 22 of 71 Wholesale Banking, impact divestments and special items 23 of 71 Retail Banking, impact divestment and special items 24 of 71 Operating expenses 25 of 71 Tax ratio 26 of 71

  3. Contents (2) ING’s capital position27 of 71 The composition of ING’s capital base 28 of 71 Information on the capital base 29 of 71 Financial leverage ING Group and ING Insurance 30 of 71 Capital position ING Insurance 31 of 71 Capital position ING Bank 32 of 71 Capital position ING Bank 33 0f 71 Capital position ING Bank vs Tier I ratio 34 of 71 ING Group insurance operations 35 of 71 Underlying premium income (I) 36 of 71 Underlying premium income (II) 37 of 71 Underlying operating expenses 38 of 71 Underlying profit before tax 39 of 71 Developing markets 40 of 71 Developing markets 41 of 71 New business information, 3 months 2006 42 of 71 New business information, 3 months 2005 43 of 71 Non-life operations by class of business 44 of 71 Underlying profit non-life insurance by class of business 45 of 71 Ratios non-life 46 of 71 ING Insurance investments by product type 47 of 71 Fixed income securities by rating class 48 -51 of 71

  4. Contents (3) ING Group banking operations 52 of 71 Underlying Income banking operations 53 of 71 Banking: underlying profit before tax 54 of 71 Banking: development interest margin 55 of 71 Underlying RAROC and economic capital 56 of 71 Cost/income ratio (underlying) 57 of 71 Risk costs ratio (in bps of average CRWA) 58 of 71 Value at Risk trading and treasury positions 1Q 2006 59 of 71 Loan portfolio ratios 60 of 71 ING Direct 61 - 70 of 71 Disclaimer 71 of 71

  5. Underlying profit before tax, 1Q 2006 Insurance Asia/Pacific 20% Life 30% Bank 55% Insurance Europe 40% Insurance Americas 40% Non-life 15% Life (excl. Other) Total ING Direct 11% Insurance Europe 43% WholesaleBanking 51% Insurance Americas 57% RetailBanking 38% Banking (excl. Other) Non-life (excl. Other)

  6. Profit before tax and underlying profit before tax

  7. Net profit and underlying net profit

  8. Insurance, pre tax impact of divestments and special items

  9. Banking, pre tax impact of divestments and special items

  10. Insurance, net profit impact of divestments and special items

  11. Banking, net profit impact of divestments and special items

  12. P&L Insurance 2006 2005 4Q 11,694 2,528 354 14,576 11,894 246 1,407 7 13,554 1,022 758 264 17 1,039 1Q 12,525 2,517 606 15,648 12,805 341 1,297 14,443 1,205 806 399 49 1,254 3Q 11,440 2,629 573 14,642 11,899 319 1,321 13,539 1,103 802 301 19 1 1,123 2Q 11,443 2,583 159 14,185 11,797 266 1,258 -1 13,320 865 514 351 -78 7 794 1Q 11,130 2,176 609 13,915 11,469 269 1,188 4 12,930 985 692 293 29 8 1,022 Premium income Income from investments Commission and other income Total income underlying Underwriting expenditure Other interest expenses Operating expenses Other impairments Total expenditure underlying Underlying profit before tax Of which: -Life insurance -Non-life insurance Gains/losses on divestments Profit from divested units Special items Total profit before tax

  13. P&L Insurance Europe 2006 2005 1Q 3,236 1,091 243 4,570 3,549 141 437 4,127 443 311 132 34 477 4Q 2,651 1,087 253 3,991 2,837 111 477 5 3,430 561 431 130 561 3Q 2,478 1,209 112 3,799 2,728 134 473 -1 3,334 465 374 91 465 2Q 2,421 1,218 112 3,751 2,678 118 466 3,262 490 395 95 490 1Q 3,152 1,047 283 4,482 3,401 118 454 3 3,976 506 396 110 10 516 Premium income Income from investments Commission and other income Total income underlying Underwriting expenditure Other interest expenses Operating expenses Other impairments Total expenditure underlying Underlying profit before tax Of which: -Life insurance -Non-life insurance Gains/losses on divestments Profit from divested units Special items Total profit before tax

  14. P&L Insurance Americas 2005 2006 1Q 6,196 1,092 331 7,619 6,380 126 629 7,135 484 310 174 484 4Q 5,875 1,052 127 7,054 6,046 -83 666 1 6,630 424 287 137 -10 414 3Q 5,997 1,147 506 7,650 6,347 131 603 7,081 569 376 193 19 588 2Q 5,656 1,208 -2 6,862 5,770 -24 567 6,313 549 313 236 -78 5 476 1Q 5,165 988 274 6,427 5,373 73 544 5,990 437 274 163 19 7 463 Premium income Income from investments Commission and other income Total income underlying Underwriting expenditure Other interest expenses Operating expenses Investment losses Total expenditure underlying Underlying profit before tax Of which: -Life insurance -Non-life insurance Gains/losses on divestments Profit from divested units Special items Total profit before tax

  15. P&L Insurance Asia/Pacific 2006 2005 1Q 2,810 193 45 3,048 2,697 2 180 2,879 169 168 1 1 170 1Q 3,088 251 -35 3,304 2,907 3 238 3,148 156 154 2 15 171 4Q 3,159 258 -68 3,349 2,992 2 243 3,237 112 110 2 27 139 3Q 2,960 255 -65 3,150 2,803 2 232 3,037 113 112 1 1 114 2Q 3,357 205 48 3,610 3,346 2 209 3,557 53 51 2 2 55 Premium income Income from investments Commission and other income Total income underlying Underwriting expenditure Other interest expenses Operating expenses Investment losses Total expenditure underlying Underlying profit before tax Of which: -Life insurance -Non-life insurance Gains/losses on divestments Profit from divested units Special items Total profit before tax

  16. P&L Banking 2006 2005 1Q 2,395 705 114 447 3,661 2,213 1,448 -25 1,473 1,473 4Q 2,409 626 126 223 3,384 2,230 1,154 26 1,128 -8 1,120 3Q 2,456 639 96 268 3,459 2,198 1,261 16 1,245 -15 1,230 2Q 2,134 540 175 446 3,295 2,279 1,016 50 966 47 1,013 1Q 2,158 543 161 408 3,270 2,082 1,188 -4 1,192 347 14 1,553 Interest result Commission income Investment income Other income Total income underlying Operating expenses underlying Gross result Addition to the provision for loan losses Underlying profit before tax Gains/losses on divestments Profit from divested units Special items Total profit before tax

  17. P&L Wholesale Banking 2006 2005 1Q 707 336 93 385 1,521 820 701 -63 764 764 4Q 755 327 114 169 1,365 874 491 -11 502 -8 494 3Q 836 327 87 113 1,363 816 547 -21 568 -15 553 2Q 636 243 159 369 1,407 920 487 6 481 47 528 1Q 696 249 142 357 1,444 801 643 -82 725 285 14 1,024 Interest result Commission income Investment income Other income Total income underlying Operating expenses underlying Gross result Addition to the provision for loan losses Underlying profit before tax Gains/losses on divestments Profit from divested units Special items Total profit before tax

  18. P&L Retail Banking 2006 2005 1Q 1,149 337 12 49 1,547 963 584 18 566 566 4Q 1,125 272 18 41 1,456 925 531 25 506 506 3Q 1,125 283 9 91 1,508 1,001 507 6 501 501 2Q 1,102 271 -4 39 1,408 976 432 18 414 414 1Q 1,045 272 8 37 1,362 927 435 41 394 62 456 Interest result Commission income Investment income Other income Total income underlying Operating expenses underlying Gross result Addition to the provision for loan losses Underlying profit before tax Gains/losses on divestments Profit from divested units Special items Total profit before tax

  19. P&L ING Direct 2006 2005 1Q 556 33 12 6 607 424 183 20 163 163 4Q 547 28 -10 10 575 379 196 12 184 184 3Q 516 30 11 3 560 350 210 31 179 179 2Q 432 24 24 17 497 344 153 26 127 127 1Q 452 22 11 2 487 323 164 37 127 127 Interest result Commission income Investment income Other income Total income underlying Operating expenses underlying Gross result Addition to the provision for loan losses Underlying profit before tax Gains/losses on divestments Profit from divested units Special items Total profit before tax

  20. Insurance Europe, impact divestments and special items

  21. Insurance Americas, impact divestments and special items

  22. Insurance Asia/Pacific, impact divestments and special items

  23. Wholesale Banking, impact divestments and special items

  24. Retail Banking, impact divestments and special items

  25. Underlying operatingexpenses • Personnel expenses • - insurance operations • - banking operations • Other expenses • - insurance operations • - banking operations • Total operating expenses • - insurance operations • - banking operations (3 months) 2006 2005 % 738 1,256 1,994 559 957 1,516 1,297 2,213 3,510 690 1,192 1,882 498 890 1,388 1,188 2,082 3,270 7 5 6 12 8 9 9 6 7

  26. Tax ratio Total Insurance operations Banking operations Group (3 months) 2006 2005 24.1 21.0 22.2 24.8 28.2 26.6 19.7 25.9 23.1 18.9 25.9 22.8 Underlying Insurance operations Banking operations Group

  27. ING’s capital position

  28. The composition of ING’s capital base Group Insurance Bank 31 March 2006, in EUR million Capital and reserves Group hybrid capital Core debt Total capitalisation Revaluation reserve fixed income securities etc. Revaluation reserve deducted from Tier-1 Insurance hybrid capital Minorities Regulatory capital Other qualifying capital DAC/ViF adjustment (50%) Group leverage Adjusted equity 36,362 8,636 3,836 48,834 -3,169 -3,836 41,829 20,808 1,788 22,596 -1,367 2,250 1,315 24,794 4,476 29,270 20,769 6,552 27,322 -1,906 -1,292 653 24,777 11,893 36,670

  29. Capital and reserves: represents equity on an accounting basis (B/S item). Group hybrid capital: all Tier-1 instruments issued by the Group (e.g. perpetual debt securities, preference shares). All Group hybrid Tier-1 instruments other than preference shares are injected as hybrid capital in Insurance or Bank. Group core debt: investments minus equity (incl. hybrids) of the Group holding company. This net debt position is injected as equity in Insurance and Bank and is the numerator of the Group D/E-ratio (= core debt / (adjusted equity + core debt). Group core debt is excluded from Group’s adjusted equity as it is already part of Insurance and Bank capital and reserves. Adjusted equity is the basis of ING leverage (D/E) ratios. To calculate regulatory capital ING deducts the revaluation reserve fixed incomesecurities, cash flow hedges and goodwill (prudential filter). The Dutch banking regulator requires this deduction to be made from Tier-1 capital. ING applies this prudent method to Bank, Insurance and Group. Secondly, to calculate the Bank’s Tier-1 capital, the revaluation reserve containing the Bank’s participations (e.g. Kookmin, Bank of Beijing), its real estate for own use and its investment portfolio is deducted (added back as tier-2). To calculate Insuranceadjusted equity, 50% of the present value of future profits generated by policies in force (Value in Force) is added, while part of the DAC (deferred acquisition costs) is deducted. The bank’s “adjusted equity” represents total BIS capital. ING internally manages and allocates on the basis of economic capital (EC). Information on the capital base

  30. Financial leverage ING Group and Insurance in EUR million and in % * D/E ratio = core debt / (adjusted equity + core debt)

  31. Capital position ING Insurance in EUR million and in %

  32. ING GAAP IFRS Jan. 1st 1Q 2Q 3Q 4Q 1Q year-end 2002 2003 2004 2005 2005 2005 2005 2005 2006 Core Tier-1 14,000 14,435 16,114 13,959 15,570 16,633 16,922 17,643 18,224 Hybrid Tier-1 4,080 4,639 5,025 5,025 5,166 5,367 5,699 5,764 6,552 Tier-1 capital 18,080 19,074 21,139 18,984 20,736 22,000 22,621 23,407 24,777 Other capital 9,071 9,408 10,294 9,677 10,181 10,241 11,383 11,318 11,893 BIS capital 27,151 28,482 31,433 28,661 30,917 32,241 34,004 34,725 36,670 RWAs 247,287 251,266 274,138 274,138 287,398 305,543 313,905 319,653 333,365 Tier-1 ratio 7.31% 7.59% 7.71% 6.92% 7.21% 7.20% 7.21% 7.32% 7.43% BIS ratio 10.98% 11.34% 11.47% 10.46% 10.76% 10.55% 10.83% 10.86% 11.00% Capital position ING Bank in EUR million and in %

  33. Capital position ING Bank EUR bln 40 35 11.9 30 11.3 11.4 10.2 10.2 25 9.7 6.6 5.8 20 5.7 5.4 5.2 5.0 15 10 18.2 17.6 16.9 16.6 15.6 14.0 5 0 2002 2003 2004 2005 2006 Other capital Shaded: ING GAAP Solid: IFRS Core capital funded by group hybrids Core capital (excl. hybrids)

  34. Required regulatory capital (4% of RWAs) Tier-1 ratio (ING GAAP) Tier-1 capital (ING GAAP) Tier-1 ratio (IFRS) Tier-1 capital (IFRS) Capital position ING Bank vs Tier-1 ratio EUR bln 10% 30 25 8% 20 6% 15 4% 10 2% 5 0% 0 2002 2003 2004 2005 2006

  35. ING Group insurance operations

  36. Underlying premium income (I) The Netherlands Belgium Central Europe & Spain Insurance Europe United States Canada Latin America Insurance Americas Japan Korea Taiwan Australia & NZ Rest of Asia Insurance Asia/Pacific Total Life % Non-life % (3 months 2006) 1,582 334 451 2,367 5,066 183 5,249 1,481 727 643 35 190 3,076 10,695 4 4 24 7 21 35 21 -7 49 19 21 25 10 14 749 106 14 869 588 359 947 12 1,830 -9 2 -8 16 13 14 20 3

  37. Underlying premium income (II) Insurance Europe Insurance Americas Insurance Asia/Pacific Life % % excl. FX (3 months 2006) 2,367 5,249 3,076 10,695 7 21 10 14 7 9 6 8 Insurance Europe Insurance Americas Insurance Asia/Pacific Non- Life % % excl. FX 869 947 12 1,830 -8 14 20 3 -8 -2 4 -5

  38. Underlying operating expenses Insurance Europe - personnel expenses - other expenses Insurance Americas - personnel expenses - other expenses Insurance Asia/Pacific - personnel expenses - other expenses (3 months 2006) Op. expenses % % excl. FX 437 280 157 629 345 284 238 106 132 -4 -5 -1 16 16 15 32 17 48 -4 3 24

  39. Underlying profit before tax The Netherlands Belgium Central Europe & Spain Insurance Europe United States Canada Latin America Insurance Americas Japan Korea Taiwan Australia & NZ Rest of Asia Insurance Asia/Pacific Corporate line Total (3 months 2006) Life % Non-life % 23 0 0 20 11 -13 7 36 119 11 2 132 147 27 174 2 91 399 224 21 66 311 276 34 310 38 66 0 42 8 154 31 806 -28 -28 16 -21 9 70 13 73 65 -9 -8 16

  40. Developing markets (3 months) Underlying Premiums Underlying Profit before tax Europe Latin America Asia Total Asia excl. Taiwan Total excl. Taiwan 2006 2005 % 2006 2005 % 282 542 1,591 2,415 246 452 1,191 1,889 15 20 34 28 63 61 76 200 76 200 49 51 106 206 47 147 28 20 -28 -3 63 36

  41. Developing markets Poland Czech Republic Slovakia Hungary Romania Bulgaria Russia Mexico Brazil Chile Peru Latin America Corporate South Korea Taiwan China Hong Kong India Malaysia Thailand Total Total excl. Taiwan (Due to rounding differences may be possible) Underlying Profit before tax Underlying Premiums (3 months) 2006 2005 2006 2005 62 76 17 97 30 0 0 352 0 190 0 0 727 642 14 64 38 92 14 2,415 58 69 15 79 25 0 0 307 0 145 0 0 489 541 10 56 14 74 9 1,889 33 10 1 18 3 -1 0 42 0 15 6 -1 66 0 1 8 -8 10 -1 200 200 23 10 -2 17 2 0 0 40 -2 7 6 0 40 59 -1 5 -4 8 -1 206 147

  42. New business information, 3 months 2006 • Annual Premium Equivalent = 100% of Annual plus 10% of Single • Value of New Business • New Business Margin (Defined as (VNB /APE) * 100%.) (*) NBM = New Business Margin (defined as (VNB/APE)*100

  43. New business information, 3 months 2005 • Annual Premium Equivalent = 100% of Annual plus 10% of Single • Value of New Business • New Business Margin (Defined as (VNB /APE) * 100%.) (*) NBM = New Business Margin (defined as (VNB/APE)*100

  44. Non-life operations by class of business Underlying premium income Underlying profit before tax 2006 2005 2006 2005 (3 months) Fire Marine & Aviation Motor Health Income/Accident Miscellaneous Indirect business Total 385 25 614 189 411 192 14 1,830 342 31 548 157 489 200 12 1,779 56 6 155 2 77 67 36 399 60 2 119 10 54 46 2 293

  45. Underlying profit non-life insurance by class of business (3 months 2006) Fire M.& A. Motor Health Acc. Misc. Indirect Total The Netherlands Belgium Central Eur./Spain North America Latin America Asia Other Total 16 3 43 -14 8 56 2 1 3 6 20 5 2 113 16 1 -2 155 -1 1 2 2 73 3 1 77 8 -1 -10 20 50 67 1 35 36 119 11 2 147 27 2 91 399

  46. Ratios non-life Claims ratio Expense ratio Combined ratio (3 months) The Netherlands Belgium Central Europe/Spain USA Canada Latin America Asia Total 2006 2005 2006 2005 2006 2005 54% 66% 53% 60% 72% 49% 59% 61% 68% 50% 82% 59% 67% 54% 63% 20% 26% 36% 38% 28% 38% 28% 17% 26% 36% 24% 37% 29% 36% 25% 74% 92% 89% 98% 100% 87% 87% 78% 94% 86% 106% 96% 96% 90% 88%

  47. ING Insurance investments by product type 31 March 2006 Europe Americas Asia/Pacific Total Fixed income: Debentures Private loans Mortgages Policy loans Other Total fixed income Real estate Equities Total 44,093 4,560 17,795 127 947 67,522 3,420 10,744 81,686 64,180 325 9,216 2,039 712 76,472 342 2,301 79,115 17,692 25 653 1,406 1,126 20,902 91 1,997 22,990 125,965 4,910 27,664 3,572 2,785 164,896 3,853 15,042 183,791 Note: table includes general account portfolios only

  48. Fixed income securities by rating class Total ING Insurance 31 March 2006 • AAA 28% • AA 31% • A 23% • BBB 14% • BB 2% • Rest 1% Table does not include unrated securities, policy loans and “other” fixed income investments Note: table includes general account portfolios only

  49. Fixed income securities by rating class Insurance Europe 31 March 2006 • AAA 24% • AA 52% • A 15% • BBB 6% • BB 3% • Rest -% Table does not include unrated securities, policy loans and “other” fixed income investments Note: table includes general account portfolios only

  50. Fixed income securities by rating class Insurance Americas 31 March 2006 • AAA 37% • AA 9% • A 26% • BBB 23% • BB 3% • Rest 2% Table does not include unrated securities, policy loans and “other” fixed income investments Note: table includes general account portfolios only

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