KBC Ancora SA — Net Asset Value 2012

Oct 29, 2012

Press Release Regulated information Under embargo until 29 October 2012 (17.40 hrs CET) Interim statement

Regulated information, Leuven, 29 October 2012 (17.40 hrs CET)

Interim statement on the first months of the financial year 2012/2013

Notes on the first months of the current financial year 2012/2013

Development of net asset value of KBC Ancora

The first months of the current financial year of KBC Ancora were characterised by its usual operating costs and interest charges. No income was realised. The participating interest in KBC Group remained unchanged and comprises 82,216,380 shares, or 22.97% of the total number of KBC Group shares in issue. KBC Ancora's net debt position increased in the first three months of the current financial year by EUR 0.10 to EUR 8.12 per share as at 30 September 2012.

The net asset value of one KBC Ancora share as at 30 September 2012 was equivalent to the price of 1.05 KBC Group shares less EUR 8.12.

Based on the closing price of the KBC Group share on 28 September 2012 (EUR 18.67), the net asset value of one KBC Ancora share amounted to EUR 11.48, and the KBC Ancora share price (EUR 7.58) was trading at a discount of 34.0% to the net asset value.

Based on the closing price of the KBC Group share on 26 October 2012 (EUR 17.875), the net asset value of one KBC Ancora share amounted to EUR 10.65, and the KBC Ancora share price (EUR 7.69) was trading at a discount of 27.8% to the net asset value.

Cera's participating interest in KBC Ancora

On 26 August 2012 Cera SCRL, the biggest shareholder of KBC Ancora, reported (pursuant to Article 74 §8 of the law of 1 April 2007 on public takeover bids) that as at 30 June 2012 it (still) held more than 30% of the voting rights in KBC Ancora. More specifically, Cera reported that it held 46,215,978 of the total of 78,301,314 KBC Ancora shares, or 59.02%.

General Meeting of Shareholders held on 26 October 2012

Among the matters dealt with at KBC Ancora's General Meeting of Shareholders on 26 October 2012, the financial statements for the financial year 2011/2012 were adopted, the appropriation of the result for the year was approved and discharge was granted to the manager and the auditor.

Press Release Regulated information Under embargo until 29 October 2012 (17.40 hrs CET) Interim statement

Changes at the statutory manager, Almancora Société de gestion

On 21 September 2012 Ms Danielle Sougné was appointed a C director of Almancora Société de gestion with immediate effect. With effect from the same date, she was also appointed a member of the Audit Committee. She replaces Mr Léopold Bragard, who stood down earlier this year on health grounds.

On 26 October 2012 Mr Koen Kerremans was appointed a B director of Almancora Société de gestion commencing on 1 November 2012.

Responsibility for preparing this interim statement

This interim statement was prepared under the responsibility of the Board of Directors of Almancora Société de gestion, statutory manager of KBC Ancora. The figures presented in this statement have not been audited.

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KBC Ancora is a listed company which holds approximately 23% of the shares in KBC Group and which together with Cera, MRBB and the Other Permanent Shareholders is responsible for the shareholder stability and further development of the KBC group. As core shareholders of KBC Group, these parties have signed a shareholder agreement to this effect.

Financial calendar

25 January 2013	Interim financial report (1H)
3 May 2013	Quarterly statement (3Q)
30 August 2013	Annual press release

This press release is available in Dutch, French and English on the website www.kbcancora.be.

KBC Ancora Investor Relations & Press contact: Jan Bergmans tel.: +32 (0)16 27 96 72 fax: +32 (0)16 27 96 94 e-mail: jan.bergmans@kbcancora.be