SOURCE: ING Real Estate

May 20, 2008 07:43 ET

ING Real Estate acquires three prime properties in France for its European funds

THE HAGUE, NETHERLANDS--(Marketwire - May 20, 2008) -

ING Real Estate recently acquired two office properties in France for approximately EUR 70 million on behalf of the ING Real Estate Office Fund:

  * Le Millenium 1, a multi-tenant building covering 6,873m2 of
    office space and 110 parking spaces, located in the city centre
    of Bordeaux. The building has been fully let to six tenants.
  * L'Open Building providing 8,028m2 of prime office space across
    eight floors and a six-level underground car park. The building
    is located in the Forum Seine area of Issy-les-Moulineaux, south
    west of Paris. The main tenant CMP Medica occupies 75% of the
    building. The two other tenants are Oxya and A.P.C.

The company has also acquired a Gazeley Canly, a new grade A state-of-the art logistics centre covering 23,819m2 located in Canly, Oise, 60 kilometres north of Paris. The building has been fully let to Recall France SA and provides 22,066m 2GLA of logistics warehouses, 994 m² GLA of offices, a 759 m² technical zone, parking spaces for five heavy goods vehicles and a car park for over 85 cars. The building was acquired for approximately EUR 17 million from the Gazeley and CalEast Global Logistics joint venture on behalf of the ING Real Estate Industrial Fund Europe.

Commenting on the acquisitions, Leo Weidenaar said: "We are delighted that we have been able to secure these top quality properties in prime locations across France. As a major player in Europe, France is a key market for our European fund business. The acquisition of these three properties will enable us to reinforce our presence in that country."

| Media Relations ING Real Estate                                 |
| Sara Thijssen, +31 70 341 9115, |

About ING Real Estate ING Real Estate is an integrated real estate group focused on the development, financing and investment management of quality real estate in all major global markets with a total portfolio of over EUR 100 billion. ING Real Estate ranks among the world's leading real estate companies and serves a broad client base from offices in 21 countries in Europe, North America, Asia and Australia.

ING Real Estate is part of ING Group, a global financial institution of Dutch origin offering banking, investments, life insurance and retirement services to over 75 million private, corporate and institutional clients in more than 50 countries.

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