ING and Public Bank Malaysia reach 10-Year Cooperation Agreement

Amsterdam, 7 November 2007

ING Group today announced that it has reached a 10-year alliance agreement with Public Bank Berhad (Public Bank), Malaysia’s second largest banking group. This alliance will see Public Bank exclusively distributing ING ’s insurance products via the bank’s multiple distribution channels, including its nearly 300 national and regional branches, insurance advisors, telemarketers and to its small & medium-sized industry and corporate clients. The agreement enables both parties to cooperate throughout the entire Asia/Pacific region and initially in the markets where both parties are active.

This alliance enables ING and Public Bank to be one of the top-3 players in Malaysia’s bancassurance sector over three years. ING is currently the fourth largest insurer in Malaysia.

Hans van der Noordaa, executive board member ING Group and Chairman of Insurance Asia/Pacific, said: “The formalisation of a long-term alliance with Public Bank in Malaysia marks a significant milestone for ING. Partnering with a premier banking group such as Public Bank offers ING a strong and dynamic platform for growth opportunities initially in Malaysia and Hong Kong, and later elsewhere in the region as Public Bank expands. In addition, this alliance will also play an integral role in enhancing our multi-channel distribution capability where we are able to distribute our products via more platforms to different market segments.”

ING products that will be exclusively offered to all Public Bank customers via this alliance include investment linked plans, employee benefits and credit life and traditional life products.

Press enquiries

Debbie Brand
ING Group
+31 20 5416526
Debbie.Brand@ing.com

Karen Williams

ING Asia/Pacific

+852 3762 8236

karen.williams@ap.ing.com

Tony Wong

ING Asia/Pacific

+852 3762 8292

tony.wong@ap.ing.com

ING is a global financial institution of Dutch origin offering banking, insurance and asset management to over 75 million private, corporate and institutional clients in more than 50 countries.
With a diverse workforce of about 120,000 people, ING comprises a broad spectrum of prominent companies that increasingly serve their clients under the ING brand