NIBC Bank to buy back another EUR 1 billion of Government-guaranteed bonds

The European tender offer referred to in the following press release is not being made, and will not be made, directly or indirectly in or into, or by use of the mail of, or by any means or instrumentality of interstate or foreign commerce of or of any facilities of a national securities exchange of, the United States. This includes, but is not limited to, facsimile transmission, electronic mail, telex, telephone, the internet and other forms of electronic communication. The European tender offer referred to in the following press release may not be accepted by any such use, means, instrumentality or facility from or within the United States as defined by Regulation S of the U.S. Securities Act of 1933, as amended (the Securities Act). Accordingly, the following press release and any other documents or materials relating to the European tender offer referred to in the following press release are not being, and must not be, directly or indirectly mailed or otherwise transmitted, distributed or forwarded (including, without limitation, by custodians, nominees or trustees) in or into the United States. Any purported acceptance of the European tender offer referred to in the following press release resulting directly or indirectly from a violation of these restrictions will be invalid and any purported acceptance of the European tender offer referred to in the following press release made by a person located in the United States or any agent, fiduciary or other intermediary acting on a non-discretionary basis for a principal giving instructions from within the United States will be invalid and will not be accepted.

By proceeding to access the following press release the reader represents that it is not located in the United States and it is not participating in the European tender offer referred to in the following press release from the United States, or it is acting on a non-discretionary basis for a principal located outside the United States that is not giving an order to participate in the European tender offer referred to in the following press release from the United States. For the purposes of this and the above paragraph, United States means the United States of America, its territories and possessions, any state of the United States of America and the District of Columbia.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, TO ANY PERSON LOCATED OR RESIDENT IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS DOCUMENT

NIBC to accelerate buyback due to strong financial and business position

Today, NIBC Bank announced two tender offers for the buy back of Government-guaranteed bonds (GGBs) expiring in April and December 2014 to a maximum of the equivalent of EUR 1 billion. These tender offers, one in the US and one in Europe, substantially accelerate the buyback of the outstanding Government-guaranteed bonds. In 2012, NIBC Bank already bought back EUR 500 million of GGBs expiring in April 2014.

Jeroen Drost, CEO of NIBC Bank: "We are pleased that our strong financial position and stable business activity allow for another early buyback of a substantial part of the outstanding debt securities guaranteed by the Dutch State. Our strategy of diversifying our funding and further strengthening our liquidity position continues to be successful."

The tender offers involve three bonds: one is the EUR GGB bond expiring in April 2014. This bond will be bought back to a maximum of EUR 500 million. The other two are the USD GGB bonds expiring in December 2014. The buyback of these USD GGB bonds shall not exceed the EUR 500 million equivalent, unless the amount accepted under the EUR GGB buyback is lower than the EUR 500 million maximum. In that case, NIBC has the option to increase the cap amount for the USD GGB. The combined offer shall not exceed the equivalent of EUR 1 billion. The EUR offer expires on Tuesday 12 February and the USD offer on Tuesday 5 March with an early tender time falling on Tuesday 19 February.

In accordance with the regulations regarding the buyback of Government-guaranteed bonds by Dutch financial institutions, NIBC Bank received approval from the Dutch Ministry of Finance and the Dutch Central Bank (DNB) for this buyback. Dealer Managers for the transactions are NIBC, Citigroup and RBS.

Several legal restrictions apply to these offers. In particular, this document is not an offer of securities for sale, a solicitation of an offer to buy or a tender offer for securities in the United States or any other jurisdiction. All restrictions are set out in the respective tender-offer memoranda relating to these offers, dated 5 February 2013.