ABN AMRO Bank N.V. and Deutsche Bank AG sign Share Purchase Agreement

Press release -

ABN AMRO Bank N.V. and Deutsche Bank AG today signed the Share Purchase Agreement (SPA) confirming the agreements reached for the sale of NEW HBU II N.V. and IFN Finance B.V. ("NEW HBU II" and "IFN Finance").

The sale price agreed for NEW HBU II and IFN Finance, including a guarantee provided for 75% of the credit losses ('credit umbrella') and an amount for other liabilities and costs, is EUR 700 million.

With the signing, the sale is now close to completion. The final steps in the process prior to the closing are the transfer of the NEW HBU II shares to the new ABN AMRO Bank N.V. and the legal demerger of the majority of the businesses acquired by the Dutch State into the new ABN AMRO Bank N.V. The closing of the NEW HBU II and IFN Finance transaction is expected to take place thereafter in the early spring of 2010.

ABN AMRO has analysed the impact of the transaction on the Group's results and capital ratios. According to its analysis, the transaction will have a negative impact of between EUR 800 and EUR 900 million. The total loss on the transaction includes the impact of a provision for the credit umbrella. ABN AMRO expects to account for these losses as soon as the conditions for effecting the closing have been met, immediately following the legal demerger. To cover the negative impact on capital, a capital injection of the Dutch State has been approved by the Dutch Parliament.

This sale enables compliance with the condition set by the European Commission for integration of the Dutch businesses of ABN AMRO acquired by the Dutch State and those of Fortis Bank Nederland, which is now one step closer.

For more information, please contact:

ABN AMRO Press Office
+31 20 6288900

RBS Group Investor Relations
+44 207 672 1758

RBS Group Media Relations
+44 131 523 4414



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