SOURCE: FORTIS

October 11, 2007 01:57 ET

97.995 per cent acceptance for Fortis 2 for 3 Rights Issue

BRUSSELS, BELGIUM--(Marketwire - October 11, 2007) -


Results of the Subscription with Preferential Rights

Fortis announces that the 2 for 3 Rights Issue of up to 896,181,684 New Fortis Units ("New Shares") at EUR 15.00 per New Share closed for acceptances on 9 October 2007.

878,216,262 New Shares and 878,216,262 VVPR strips Fortis SA/NV, representing approximately 97.995% of the total number of New Shares offered to shareholders pursuant to the fully underwritten Rights Issue, were subscribed to.

Settlement of the Rights Issue will occur with value on 15 October 2007.

Listing and Trading of the New Shares and VVPR Strips Fortis SA/NV

It is expected that the New Shares will commence trading on the regulated market of Euronext Brussels, Eurolist by Euronext Amsterdam and the EU regulated market of the Luxembourg Stock Exchange on 15 October 2007. On the same day, the VVPR Strips Fortis SA/NV will be listed on the regulated market of Euronext Brussels.

Sale of the remaining New Shares via Placing of Scrips

Merrill Lynch International, in its role as Sole Bookrunner, and Fortis Bank, in its role as Co-Bookrunner, will jointly be seeking subscribers for the remaining 17,965,422 New Shares through an accelerated private placement on Thursday 11 October 2007 in the European Economic Area and Switzerland, only to Qualified Investors (as defined respectively, in the European Directive 2003/71/EC and in the Swiss Federal Act on Collective Capital Investments) and in compliance with Regulation S under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), in the US only to qualified institutional buyers (as defined in Rule 144A under the U.S. Securities Act). Subject to, and as described in greater detail in the prospectus regarding the offering of the New Shares, the excess net proceeds, if any, of the accelerated private placement due to holders of unexercised rights will be made available to them upon presentation of coupon number 40. The results of such a placement will be announced by a press release on Thursday 11 October 2007; the global results of the Rights Issue as well as the amount of the excess net proceeds, if any, will be published on Saturday 13 October 2007.

Enquiries:

Fortis

Press Offices

Brussels +32 (0)2 565 35 84 Utrecht +31 (0) 302 26 32 19

Investor Relations

Brussels +32 (0)2 565 53 78 Utrecht +31 (0) 302 26 32 20

Merrill Lynch International

Andrea Orcel +44 (0) 207 628 1000

Rupert Hume-Kendall

Jim O'Neil

Richard Slimmon

Fortis Bank

Simon Barnasconi +31 (0) 205 27 23 73

Disclaimer

Merrill Lynch International and Fortis Bank are acting for Fortis only and no one else in relation to the Offering, and will not be responsible to anyone other than Fortis for providing the protections offered to their respective clients nor for providing advice in relation to the Offering. Merrill Lynch International did not approve this document and makes no representation or warranties as to the accuracy of the information contained herein.

This document is not an offer of securities for sale nor the solicitation of an offer to purchase securities in the United States or in any other jurisdiction where such offer may be restricted. Securities may not be offered or sold in the United States unless they are registered under the U.S. Securities Act of 1933, as amended ("U.S. Securities Act") or exempt from registration. The securities of Fortis referred to in this press release have not been and are not being registered under the U.S. Securities Act and Fortis will not make a public offer of such securities in the United States.

This announcement does not constitute an offer or invitation to sell or issue, or any solicitation of an offer to purchase or subscribe for securities and any subscription for or purchase of, or application for, Shares in Fortis, Rights or Scrips to be issued or sold in connection with the Offering should only be made on the basis of information contained in the Prospectus. Fortis has not authorised any offer to the public of Shares, Rights or Scrips in any Member State of the European Economic Area other than Belgium, the Netherlands and Luxembourg. With respect to each Member State of the European Economic Area other than Belgium, the Netherlands and Luxembourg and which has implemented the Prospectus Directive (each, a "Relevant Member State"), no action has been undertaken or will be undertaken to make an offer to the public of Shares, Rights or Scrips requiring a publication of a prospectus in any Relevant Member State. As a result, the Shares, Rights or Scrips may only be offered in Relevant Member States:

(a) to legal entities which are authorised or regulated to operate in the financial markets or, if not so authorised or regulated, whose corporate purpose is solely to place securities;

(b) to any legal entity which has two or more of the following criteria: (1) an average of at least 250 employees during the last financial year; (2) a total balance sheet of more than EUR 43.0 million and (3) an annual net turnover of more than EUR 50.0 million, as shown in its last annual or consolidated accounts; or

(c) in any other circumstances, not requiring Fortis to publish a prospectus as provided under Article 3(2) of the Prospectus Directive.

For the purposes of this paragraph, the expression an "offer to the public of Shares, Rights or Scrips" in any Relevant Member State means the communication in any form and by any means of sufficient information on the terms of the Offering and the New Shares and Rights to be offered so as to enable an investor to decide to purchase any securities, as the same may be varied in that Member State by any measure implementing the Prospectus Directive in that Member State and the expression "Prospectus Directive" means Directive 2003/71/EC and includes any relevant implementing measure in each Relevant Member State.

This document does not constitute an offer of securities to the public in the United Kingdom. This document is for distribution in the United Kingdom only to and is directed at (i) persons who have professional experience in matters relating to investments falling within Article 19(1) of The Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (b) high net worth entities, and other persons to whom it may otherwise lawfully be communicated, falling within Article 49(1) of the Order (all such persons being referred to as "relevant persons"). This document must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this communication relates is only available to relevant persons and will be engaged in only with relevant persons. Persons distributing this document must satisfy themselves that it is lawful to do so.

The release, publication or distribution of this press release in certain jurisdictions may be otherwise restricted by law or regulations. Therefore, persons in such jurisdictions into which this press release is released, published or distributed must inform themselves about and observe such laws and restrictions.

This announcement and the information contained herein are not for publication, distribution or release directly or indirectly in, or into, the United States, Canada, Australia or Japan.

The content of this announcement includes statements that are, or may be deemed to be, "forward-looking statements". These forward- looking statements can be identified by the use of forward- looking terminology, including the terms "believes", "estimates", "anticipates", "expects", "intends", "may", "will", or "should", and include statements we make concerning the intended results of our strategy. By their nature, forward-looking statements involve risks and uncertainties and readers are cautioned that any such forward-looking statements are not guarantees of future performance. The Company's actual results may differ materially from those predicted by the forward-looking statements. The Company undertakes no obligation to publicly update or revise forward- looking statements, except as may be required by law.

pdf version of the press release: http://hugin.info/134212/R/1159252/224528.pdf



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