Take-over FGH Bank by Rabobank finalised

Today the shares in FGH Bank of HYPO Real Estate Bank AG have been transferred to Rabobank Groep. This take-over was already announced in July; on the 22nd of that month both parties signed the letter of intent. Since that day the required approvals of De Nederlandsche Bank and the NMA have been received and the spin-of of the real estate activities of the HVB Group has also taken place.

This take-over changes the constitution of both the Board of Directors and the management of FGH Bank. Therefore the Board of Directors from the mentioned take-over date will formed by; Mr. mr. drs. L.C. Brinkman (member of the Board of Directors since 30 July 1999), Mr. drs. J.C. ten Cate (Chairman of the Board of Directors) and Mr. drs. J.H.P.M. van Lange.

The constitution of the management of FGH Bank will also slightly change. Mr. F.B. Overdijk RA will be appointed per 1 November 2003 as a new member of the management. He is currently working at Rabobank Nederland where he has worked in several functions since 1982. Mrs. M.M.A. Better will remain a member of the management until the end of the year at the explicit request of Rabobank Nederland. Mr. P.C. Keur will act as chairman from today onwards.

Source: FGH Bank

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