PRESS RELEASE: ING Rebalances Hedge Portfolio For Employee Options

ING Groep N.V. has sold 1,450,000 (depositary receipts for) ordinary 
shares for its delta hedge portfolio, which is used to hedge employee 
options. The shares were sold in the open market on 1 September and 2 
September at an average price of EUR 10.53 per share. 
 
ING does not issue new shares to cover employee options. Instead, 
employees receive shares from the delta hedge portfolio, which is 
maintained to minimise the market risks and price fluctuations that 
arise from the employee option programmes. The hedge position is 
adjusted periodically, generally on a quarterly basis, in accordance 
with regulatory requirements and ING's policies to prevent market 
manipulation. 
 
The hedge book currently holds 34.3 million (depositary receipts for) 
ordinary ING shares, representing 1.7% of the 2,063 million shares 
outstanding. 
 
Press enquiries 
Raymond Vermeulen 
ING 
[phone] 
[e-mail] 
 
ING Profile 
ING is a global financial institution of Dutch origin offering 
banking, investments, life insurance and retirement services to over 
85 million private, corporate and institutional clients in more than 
40 countries. With a diverse workforce of about 110,000 people, ING 
is dedicated to setting the standard in helping our clients manage 
their financial future. 
 
Important legal information 
Certain of the statements contained herein are statements of future 
expectations and other forward-looking statements. These expectations 
are based on management's current views and assumptions and involve 
known and unknown risks and uncertainties. Actual results, 
performance or events may differ materially from those in such 
statements due to, among other things, (i) general economic 
conditions, in particular economic conditions in ING's core markets, 
(ii) performance of financial markets, including emerging markets, 
(iii) the frequency and severity of insured loss events, (iv) 
mortality and morbidity levels and trends, (v) persistency levels, 
(vi) interest rate levels, (vii) currency exchange rates (viii) 
general competitive factors, (ix) changes in laws and regulations, 
(x) changes in the policies of governments and/or regulatory 
authorities, (XI) conclusions with regard to purchase accounting 
assumptions and methodologies, (XII) ING's ability to achieve 
projected operational synergies. ING assumes no obligation to update 
any forward-looking information contained in this document. 
 
 
This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement. 
 
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