ING New Zealand appoints a new managing director

January 15, 2009

ING New Zealand appoints a new managing director - funds management

ING New Zealand announced today that Paul Butler has been appointed to the
newly-created role of Managing Director - Funds Management to oversee the
continued growth and development of all aspects of the company's funds
management business.

Paul is currently ING New Zealand's chief financial officer and is
responsible for all the finance functions within the INGNZ Group as well
as strategy and acquisitions. An accountant by profession, Paul has more
than 20 years' experience in the finance industry. Before joining ING in
mid-1994, Paul held a variety of senior positions in both accounting and
general management for a large corporate bank.

Paul has also had a strong involvement in the key growth activities of ING
New Zealand, such as the formation of the joint venture with the ANZ Bank
in 2002, and the acquisition of Club Life (now ING Life) in 2004.

He is also a member of ING New Zealand's general management team and has
played an active role in establishing ING as the leading retail fund
manager in New Zealand.

"I am delighted that Paul has accepted this new role. Paul has played a
key role in the growth of our company over the past 14 years and over that
time he has seen the company grow from a boutique fund manager into the
widely-based financial services company we are today," INGNZ CEO Helen
Troup said.

ING New Zealand operates three business lines - funds management,
insurance and real estate. Insurance is managed by Naomi Ballantyne, and
Real Estate is managed by Jeremy Nicoll.

Paul will begin his new role in February.

Ends

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