SOURCE: Van Lanschot

December 13, 2005 11:48 ET

Collaboration Between Friesland Bank and Van Lanschot Formalised in a Revised Agreement


Partly in view of the proposed changes to corporate governance at Van Lanschot (including removing the protective function of depositary receipts for shares), Friesland Bank and Van Lanschot have decided to amend the 1999 shareholder agreement.

Friesland Bank has reconfirmed that it will continue to respect the independence of Van Lanschot. In connection with this, it will not lend assistance to third parties to acquire a shareholding in Van Lanschot of more than 20% of the share capital. Furthermore, Friesland Bank's total percentage shareholding in Van Lanschot is subject to a maximum of 29%. In the case of share issues - including the issue of protective preference shares - Van Lanschot will give Friesland Bank the opportunity to subscribe for up to 20% of the shares. As long as Friesland Bank holds an interest of at least 20% in Van Lanschot, it will have the right to nominate one person to be appointed to the Supervisory Board of Van Lanschot.

The new agreement has a term of three years.

's-Hertogenbosch/Leeuwarden, 13 December 2005

F. van Lanschot Bankiers NV is the oldest independent bank in the Netherlands, with a history dating back to 1737. The Bank focuses on three target groups: high net-worth individuals, midsize businesses (including family businesses) and institutional investors. Van Lanschot stands for high-quality services founded on integrated advice, personal service and customised solutions. Van Lanschot NV is listed on the Euronext Amsterdam Stock Market.

Friesland Bank is an independent bank group that was founded in 1913 and is headquartered in Leeuwarden, The Netherlands. Mid-2005 the size of Friesland Bank Group was EUR 9.4 billion. Its net profit over 2004 was EUR 72.3 million. The bank group is owned by Vereniging Friesland Bank. Friesland Bank topratings: long-term A3 and short-term P-1 (Moody's Investors Service) and long-term A and long-term F-1 (Fitch Ratings). Its services portfolio includes: general banking services (Friesland Bank), insurance (Friesland Bank Assurantiën/AECUM) and private equity (Friesland Bank Investments). Friesland Bank owns financial shareholdings in Kempen & Co. N.V., Van Lanschot N.V. and Triodos Bank N.V. amongst others. The Friesland Bank Group has a total of over 1000 employees.


Press contacts Van Lanschot:
Frank L. Bouman, spokesperson
Telephone: +31 (0)73 548 36 76
mobile: +31 (0) 6 549 146 87
fax: +31 (0)73 548 33 49

Investor Relations Van Lanschot:
Arno J.J. Barens, Corporate
Communications Director
Telephone: +31 (0)73 548 30 96
fax: +31 (0)73 548 33 49

Press contacts Friesland Bank:
Saskia Noteboom-Toor, spokesperson
Telephone +31 (0)58 299 44 23
mobile +31 (0) 651 505 600.
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