Dutch Banking and Insurance Group ING has Announced a Plan, Involving the Dutch Government, to Ring-fence its Toxic Alt-A Assets.

LONDON, January 27 /PRNewswire/ -- The news comes amidst a raft of announcements including Michel Tilmant
stepping down as CEO to be replaced by Chairman of the Supervisory Board Jan
Hommen; a variety of steps to de-risk, de-leverage and shrink the Group's
balance sheet and significant cost reductions that will see 7,000 jobs lost.
"We have a plan for reducing a number of activities. That will have some
impact on our employees, unfortunately." Jan Hommen, Chairman and CEO
designate said, "we are adjusting the economic activities and business
activities that we do to the economic reality of the outside world."

ING also announced a loss for the full year following a very difficult
fourth quarter. Mr Hommen commented "the financial markets in Q4 really,
really went into a tailspin. Basically, after the demise of Lehman's the
financial markets all over the world collapsed."

It's free to view. All you need to do is register at
http://www.cantos.com. Cantos.com, the online financial broadcaster, features
in-depth interviews, documentaries and webcasts with senior company
executives. If you would like to contact us, please email
enquiries@cantos.com or phone +44(0)207-936-1333.

ING Group