*  2Q09 underlying net profi t of EUR 229 million shows improvement    from underlying net loss of EUR -305 million in 1Q09    - Bank interest result up 19.4% versus 2Q08 and 4.7% versus 1Q09    on improvements in savings and lending margins    - Group operating expenses down 5.5% from the second quarter of    2008 and 2.4% from the fi rst quarter of 2009    - Results dampened by market impacts including EUR -584 million of    real estate revaluations    - EUR -763 million of pre-tax hedge results offset by positive    equity-related DAC unlocking and unrealised gains through equity    - Net addition to loan loss provisions of EUR 852 million at ING    Bank, equivalent to 118 bps of average credit-risk weighted assets    - Divestments and special items totalled EUR -159 million,    bringing the quarterly net result to EUR 71 million or EUR 0.03    EPS *  De-leveraging, de-risking and cost-containment measures    progressing on track or ahead of targets    - Cumulative reduction in Bank balance sheet of EUR 164 billion,    or 15%, since 3Q08 exceeds target for 10% reduction    - 53% of targeted EUR 1 billion cost savings achieved in fi rst    half of 2009; cost savings expected to reach EUR 1.3 billion for    full year    - Total FTE reduction of 8,219 realised by end of 2Q09, ahead of    7,000 planned reductions for full-year 2009    - Risk-reduction efforts help offset credit rating migration,    limiting the increase in risk-weighted assets to 1.7% *  All key capital and leverage ratios robust during the quarter;    shareholders' equity increases by EUR 2.9 billion    - All key capital and leverage ratios remained strong during the    quarter; Bank Tier 1 ratio of 9.4% and core Tier 1 ratio of 7.3%    - Shareholders' equity increased by EUR 2.9 billion driven by    tightening credit spreads and the uptick in equity markets    - Bank asset leverage ratio of 28.9x at the end of 2Q09, down from    30.1x at the end of 1Q09    - ING has decided not to pay an interim dividend on common shares    over 2009 

Chairman's Statement

"ING posted solid commercial performance in the quarter, as a more favourable interest rate environment and improved margins on savings and lending led to a 19.4% increase in interest income at the banking operations. In Insurance, the recovery of equity markets in the second quarter helped boost fees on assets under management. However, sales of investment-linked products remained subdued as customers awaited a sustained market rally or opted for traditional life products," said Jan Hommen, CEO of ING.

"Benefi ts of Back to Basics and improvements in equity and credit markets helped the Group return to profi t with an underlying net result of EUR 229 million.