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FORTIS (EBR:FORB) Fortis announces that Messrs. Camille Fohl and Lex Kloosterman will step down from the Executive Committee as per 31/10/2008. The Board thanks them for their valuable contribution.
Mr. Kloosterman will pursue his career outside the company.
Mr Camille Fohl will remain member of the Executive Board of Directors of Fortis Bank.
Confronted with a systemic financial crisis in 2008, Fortis has undergone a complete metamorphosis. Its banking and insurance activities have been acquired by the Dutch and Belgian States of which the non-Dutch activities will be acquired by BNP Paribas subsequently. Fortis holding will henceforth include the international insurance activities, a 66% stake in a structured credit portfolio entity and financial assets and liabilities of the different financing vehicles.
Fortis Insurance International is present in UK, France, Hong Kong, Luxembourg (Non-Life), Germany, Turkey, Russia, Ukraine and has joint-ventures in Luxembourg (Life), Portugal, China, Malaysia, India and Thailand. As of 30 June 2008, Fortis Insurance International had a total equity of EUR 1.6 billion and funds under management within consolidated companies in the Life business of EUR 21 billion.
