SNS REAAL and KAS BANK negotiate outsourcing SNS Bank securities services

Press release 9 June 2008
SNS REAAL intends to outsource securities processing to KAS BANK. Both parties signed a letter of intent today. The outsourcing will include back office activities for SNS Bank’s securities services, which involves approximately 35 employees. Outsourcing these activities to KAS BANK will enable SNS REAAL to process transactions more efficiently.

KAS BANK focuses entirely on securities services and pursues a pure-play strategy, both of which are perfectly in line with the needs of major financial companies such as SNS REAAL. The deal will strengthen KAS BANK’s position in the field of securities services, affording it the opportunity to expand its activities even further.

Both parties expect to reach an agreement by the end of 2008’s third quarter.

About SNS REAAL
SNS REAAL is an innovative service provider in the banking and insurance sector with a prime focus on the Dutch retail market and on small and medium-sized enterprises. Its activities cover three main product groups: mortgages and property finance, savings and investments and insurance. From its historical background, SNS REAAL has always felt close to Dutch society. With a balance sheet total of Euro 103 billion (as of end of 2007), SNS REAAL is one of the major financial bancassurance companies in the Netherlands. The company has a staff of nearly 8,000 (FTE) and is headquartered in Utrecht, the Netherlands.

About KAS BANK
KAS BANK is a European specialist in wholesale securities services. As an independent bank, KAS BANK connects professional financial institutions both within Europe and across the globe.

KAS BANK focus is providing added-value services to national and international organisations active in the pensions and securities industries. KAS BANK views the market from the perspective of her clients – tailor-made services and complete transparency are paramount in helping them to meet their business objectives.

More information on SNS REAAL:

SNS REAAL Corporate Communications
Danielle Dielissen / Erna van der Neut
Danielle.dielissen@snsreaal.nl / Erna.vanderNeut-terBalkt@snsreaal.nl
Tel: +31 (0) 30 291 48 90 / Tel: +31 (0) 30 291 48 71

Disclaimer
This press release contains factual information and should not be regarded as an opinion or recommendation on the sale or purchase of shares or other securities issued by SNS REAAL N.V, SNS Bank N.V. and/or KAS BANK N.V. This press release does not contain any value judgment or predictions with respect to the financial performance of SNS REAAL N.V., SNS Bank N.V. and/or KAS BANK N.V.