NIBC Holding raised EUR 400 million new equity

NIBC Holding successfully raised EUR 400 million new cash equity in the first quarter of 2008. Funding was provided in the form of a subscription for newly issued ordinary shares in the capital of NIBC Holding.

NIBC Holding has a remaining US commercial real estate securities portfolio with a notional value of EUR 0.7 billion per 31 March 2008 (notional value year end 2007: EUR 0.9 billion). NIBC Holding decided to an after tax write down of this portfolio of EUR 0.3 billion to approximately 30 pct of the notional value (year end 2007: 78 pct), which leads to a fair value of the remaining portfolio of EUR 0.2 billion per 31 March 2008. Following this share issue the Tier-I ratio of NIBC Holding is expected to increase to above 12 pct (year end 2007: 11.2 pct).

NIBC Bank expects to show a solidly profitable first quarter. First quarter results will be presented on 16 May 2008. This firm commitment of our shareholders together with the appointments of Mr. Jeroen Drost as Chief Executive Officer and Mr. Jan Sijbrand as Chief Risk Officer endorse NIBC's strategy as an independent merchant bank.