SOURCE: Van Lanschot

May 10, 2006 08:07 ET

Van Lanschot: growth in earnings per share for 2006 of at least 10%

'S-HERTOGENBOSCH, NETHERLANDS -- (MARKET WIRE) -- May 10, 2006 --

During the Annual General Meeting of Shareholders today, Van Lanschot announced that it expects to report growth in earnings per share for 2006 of at least 10%.


"Based on the first four months of the year, 2006 has made a promising start," according to Floris Deckers, Chairman of the Board of Managing Directors of Van Lanschot NV. "Favourable stock market developments have led to more securities transactions by private investors. The net inflow of new funds continued at the good level of the final months of 2005. However, the interest margin remained under strong pressure. Furthermore, we are facing a higher level of operating expenses in 2006 compared with last year due to an increase in staff costs and higher budgeted costs of the IT project. Taken together, the developments in the first four months of 2006 give us confidence for the year as a whole. At this point in time, we expect earnings per share for 2006 to increase by at least 10%."

This profit forecast is based on the amount available to shareholders for 2005 of EUR 4.99 per share. The forecast excludes the impact of the release of the provision for healthcare insurance premiums of EUR 19.7 million gross announced in March.



Refocused strategy

During the Annual General Meeting of Shareholders, Mr Deckers also presented the refocused strategy of the bank geared towards the interests of the clients and other stakeholders of Van Lanschot. As part of this strategy, new ambitious financial targets were announced, as summarised below.


+-------------------------------------------------------------------+
| Former financial targets        | New financial targets           |
|                                 |                                 |
|---------------------------------+---------------------------------|
| Annual EPS growth of 10% on     | Annual EPS growth of at least   |
| average                         | 10%                             |
|---------------------------------+---------------------------------|
| -                               | Annual revenue growth of at     |
|                                 | least 5%                        |
|---------------------------------+---------------------------------|
| Return on equity of 15% on      | Return on equity of 18% on      |
| average                         | average                         |
|---------------------------------+---------------------------------|
| Efficiency ratio of between 50% | Efficiency ratio of between 50% |
| - 60%                           | - 60%                           |
|---------------------------------+---------------------------------|
| Capital ratios:                 | Capital ratios:                 |
| BIS total capital ratio of at   | BIS total capital ratio of      |
| least 10%                       | 12.5%                           |
|                                 | Tier 1 ratio of 9.5%            |
|                                 | Core tier 1 ratio of 7.5%       |
|---------------------------------+---------------------------------|
| Single A rating from at least 2 | Single A rating from at least 2 |
| rating agencies                 | rating agencies                 |
+-------------------------------------------------------------------+




The complete PowerPoint presentation given by Mr Deckers will be available on the bank's website (www.vanlanschot.com) as from 4pm this afternoon. The presentation can be found on the English website under the links Investor relations / Financial information / Presentations.


's-Hertogenbosch, 10 May 2006



Van Lanschot Bankiers NV is the oldest independent bank in the Netherlands, with a history dating back to 1737. The bank focuses on two target groups: high net-worth individuals and medium-sized businesses (including family businesses). 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.

*****

Press contacts Van Lanschot: Frank L. Bouman, spokesperson
Telephone +31 (0)73 548 36 76; mobile +31 (0) 6 549 146 87;
e-mail F.Bouman@vanlanschot.com; fax +31 (0)73 548 33 49

Investor Relations Van Lanschot: Geraldine A.M. Bakker-Grier,
Investor Relations Manager.
Telephone +31 (0)73 548 33 50; mobile +31 (0)6 13 97 64 01;
e-mail G.A.M.Bakker@vanlanschot.com; fax +31 (0)73 548 33 49.

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