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KBC Groep (EBR:KBC) Regulated information* - 15 September 2008 (13.15 p.m. CEST)
In view of the market turmoil and uncertainty caused by concerns over the American investment bank, Lehman Brothers, KBC wishes to detail its risk exposure to Lehman Brothers.
As of this morning, KBC's risk exposure on Lehman was as follows:
- Bonds purchased: 145 million EUR - Credit facilities outstanding: 85 million EUR (of which 30 million EUR secured)
Moreover, there is some indirect exposure included in the underlying assets of the CDOs in which KBC has invested. Stress tests are currently being run to compute the exact value at risk. The impact is expected to be below 50 million EUR.
Finally, KBC has a payment obligation towards Lehman Brothers, which is secured by collateral and results from professional transactions. The mark-to-market value accrued in favour of Lehman amounts to approximately 200 million EUR.
* This news item contains information that is subject to the transparency regulations for listed companies.
