ageas SA/NV — Capital/Financing Update 2008

May 26, 2008

THIS COMMUNICATION IS NOT AN OFFER FOR SALE OF SECURITIES IN THE UNITED STATES. THE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT") AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. THE COMPANY DOES NOT INTEND TO OFFER ANY OF THE SECURITIES WITHIN THE UNITED STATES.

Press release

Brussels / Utrecht, 23 May 2008

Fortis successfully places EUR 625 million with nondilutive Core Tier 1 Capital instrument

Fortis today announces that it has successfully placed an amount of EUR 625 million through a Core Tier 1 capital transaction ("NITSH II" or "Non-Innovative Tier 1 Subordinated Hybrid Securities II"). The transaction carries a cash coupon of 8.00%.

Fortis announced the launch of NITSH II on 15 May 2008. The transaction was the second of its kind, was non-dilutive and euro-denominated, and mainly targeted retail and institutional investors across Europe.

Gilbert Mittler, Member of Fortis Executive Committee responsible for Finance, Risk and General Counsel comments: "Fortis is happy with this outcome. We have reached our stated benchmark target, further solidifying Fortis's capital position."

The NITSH II was distributed by the mandated banks, including Fortis and ABN AMRO, through their retail networks and via institutional intermediaries in Europe.

This instrument is non-equity-linked, perpetual and subordinated debt, callable in year 5 (2013) at the issuer's option. As with the NITSH I launched in February 2008, the securities qualify as "non-innovative Tier 1" not subject to a 15% regulatory limit.

After the successful placement of NITSH I for an amount of USD 750 million - mainly in Asia - this new transaction demonstrates the ability of Fortis to benefit from market opportunities to further strengthen its capital ratios, in line with its capital management policy.

Fortis is an international provider of banking and insurance services to personal, business and institutional customers. We deliver a total package of financial products and services through our own high-performance channels and via intermediaries and other partners. Fortis ranks among Europe's top 20 financial institutions, with a market capitalisation of EUR 38.5 billion (30/04/2008). Together with ABN AMRO, we have a presence in over 50 countries and a dedicated, professional workforce of more than 85,000. All this makes us a leader in financial services in Europe, a top 3 private banker and a top tier asset manager. More information is available at www.fortis.com.

Press Contacts:

Fortis

Rue Royale 20 1000 Brussels Belgium

Archimedeslaan 6 3584 BA Utrecht The Netherlands

www.fortis.com

Investor Relations:

Brussels: +32 (0)2 565 53 78 Utrecht: +31 (0)30 226 65 66