August 28, 2006 12:37 ET

Joop Feilzer steps down from executive functions

Fortis announced today that Joop Feilzer has decided after consultation with the Executive Committee to focus on non-executive roles and step down from all executive positions as of 1st October 2006.

BRUSSEL, BELGIUM -- (MARKET WIRE) -- August 28, 2006 -- On 1st November 2005 Feilzer decided to step down as a member of the Fortis Executive Committee. As a member of the Management Committee of Fortis Bank SA/NV he continued with responsibility for overseeing Fortis Investments and remained Chairman of the Supervisory Board of Fortis Bank Netherlands. Joop Feilzer's commitment was to remain in this role until such a point when the Fortis Board was in a position to announce a replacement. With the appointment of Lex Kloosterman (announced 10th August 2006) Feilzer feels he can now step down from his executive positions.

Before Fortis, Joop Feilzer was involved with major financial institutions such as Amro Bank, American Express and the Nederlandsche Credietbank. He spent more than ten years at Heller Overseas in Chicago, where he was responsible for Europe (1975-1985). In 1985 he joined VSB Group in the function of Vice Chairman where he was later appointed Chairman of the Executive Board. In 1990, when VSB, AMEV and AG merged, he became Vice Chairman of the Executive Board of AMEV and a member of the Executive Committee of Fortis.

Since then he has held a number of posts at Fortis, both at group level and in the banking and insurance divisions. In 1999 and 2000 he was Managing Director of Fortis (B) and Fortis (NL), with various responsibilities at group level.

"Joop Feilzer's contribution to Fortis has been tremendous," said Jean-Paul Votron, CEO of Fortis, "and his desire and agreement to fulfil a number of non-executive mandates is highly appreciated."

Fortis is an international financial services provider engaged in banking and insurance. We offer our personal, business and institutional customers a comprehensive package of products and services through our own channels, in collaboration with intermediaries and through other distribution partners. With a market capitalisation of EUR 36,2 billion (31/07/2006), Fortis ranks among the twenty largest financial institutions in Europe. Our sound solvency position, our presence in 50 countries and our dedicated, professional workforce of 58,000 enable us to combine global strength with local flexibility and provide our clients with optimum support. More information is available on

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