BNG Profit EUR 278 Million

THE HAGUE, The Netherlands, March 8, 2010 - BNG closes the 2009 financial year with a net profit of EUR 278 million
(2008: EUR 158 million). As a result of the low money market interest rate,
interest results have risen by EUR 60 million. The increased marketability of
interest bearing securities has lead to an increase of the result financial
transactions by EUR 104 million. The proposed dividend payout to shareholders
amounts to EUR 139 million.

BNG is the bank of and for authorities and public sector institutions.
Despite difficult market conditions, during the year under review, the bank
continued to offer uninterrupted lending at competitive rates to its core
client groups - local authorities, housing associations and health care and
educational institutions - and strengthened its market position.

The long-term lending amounts to EUR 8.6 billion (2008: EUR 10.5
billion). This development is a repercussion of clients' reduced willingness
to invest as a result of the uncertain economic developments. In contrast,
the short-term lending offered to clients in 2009 averages EUR 5.8 billion
(2008: EUR 3.9 billion). Anticipating the economic recovery and making use of
the very low rates for short-term lending, local authorities in particular
have financed themselves short-term to a greater extent than in the past.

The cautious but continuous recovery of confidence in financial
institutions during 2009 has increased the activity on the international
capital markets. This had a favourable effect, particularly in the second
half of 2009, on the amount of the spreads payable by the bank for credit and
liquidity risks and on the variation in maturity of new issues. In 2009, BNG
attracted EUR 14.1 billion in long-term funding for long-term lending and
refinancing (2008: EUR 13.1 billion). The triple A ratings of the bank were
reconfirmed and investor confidence in BNG has been maintained. This was
amongst others reflected in relatively favorable purchase prices. That
benefit was transferred to clients in their rates.

BNG is confidently looking forward to 2010. The interest result is
expected at about the level of 2009. However, given the fragile economic
recovery, the increased volatility of results and all of the remaining
uncertainties, the bank does not consider it wise to make a statement about
the 2010 net profit.

On 29 April 2010 BNG will publish its Annual Report 2009 on its investors
site (www.bng.com).

    CONSOLIDATED INCOME STATEMENT 2009
    in millions of Euros

                                         2009                 2008

    - Interest income                   2,628                4,524
    - Interest expenses                 2,291                4,247
    Interest result                       337                  277

    Income from associates and              2                   (1)
    joint ventures

    - Commission income                    36                   25
    - Commission expenses                   6                    5
    Commission result                      30                   20

    Results financial transactions         40                  (64)

    Foreign exchange results                0                    2
    Other income                            2                    9
    Total income                          411                  243

    - Staff costs                          35                   32
    - Other administrative expenses        24                   27
    Staff costs and other administrative   59                   59
    expenses

    Depreciation                            2                    2
    Operating expenses                     61                   61

    Profit before tax                     350                  182

    Taxation                              (72)                 (24)

    Net profit                            278                  158

    CONSOLIDATED BALANCE SHEET AS OF 31 DECEMBER 2009
    in millions of Euros

    Assets                            31/12/2009      31/12/2008         

    Cash and cash equivalents                655             497
    Banks                                  7,683           8,956
    Loans and advances                    79,305          75,699
    Financial assets at fair value
    via the income statement               2,983           3,001
    Financial assets available
    for sale                               5,531           5,185
    Other financial assets                 8,002           7,695
    Associates and joint ventures            106             105
    Property and equipement                   23              24
    Other assets                             208             203
    Total assets                         104,496         101,365

    Liabilities
    Banks                                  5,615           3,285
    Funds entrusted                        7,070           6,439
    Subordinated loans                       174             170
    Debt securities                       79,935          79,157
    Financial liabilities at fair
    value via the income statement           351             791
    Other financial liabilities            8,854           9,359
    Other liabilities                        244             185
    Total liabilities                    102,243          99,386
    Equity                                 2,253           1,979
    Total liabilities and equity         104,496         101,365

This is an unofficial translation of the press release Winst BNG EUR 278
miljoen which is provided for convenience only. In the event of any
ambiguity, the Dutch text will prevail.

For further information contact: BNG, Aart Rietveld, BNG spokesman, Postbus 30305, 2500 GH THE HAGUE, T +31-70-3750-609, E mc at bng.nl.