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PRESS RELEASE Corporate Communications CONTACT TELEPHONE David Brilleslijper (+31) 20 594 44 88 Amsterdam, 30 July 2008 GROSS PREMIUM INCOME UP 29% TO €4.4 BILLION DELTA LLOYD GROUP LEADS PENSIONS MARKET Against the backdrop of challenging economic conditions Delta Lloyd Group achieved gross premium income growth of almost thirty per cent. In the first half of 2008 the Group was again successful in winning group pension contracts for various large companies. The current turbulence in the financial markets is also having an impact on Delta Lloyd Group. However, the Group’s financial position remains robust. According to Executive Board chairman Niek Hoek, “It is specifically now, in today’s difficult financial climate, that Delta Lloyd Group is demonstrating its strength by achieving strong growth in income. The results may be below the record year of 2007, but our financial position in the Dutch insurance market is stronger than ever. The strength of our position means we have every confidence that we will be able to fulfil our ambition of being one of the top three insurers in the Netherlands by 2010.” Financial • Premium income rises 29% to €4.4 billion, primarily due to large pension contracts. • Net result of €138 million. This was lower than in the record year of 2007 (€380 million), owing to the volatile financial markets (rising long-term interest rates and increasing credit spreads). • Solvency remains high at 245%. • Shareholders’ equity falls to €4.2 billion as a result of equity prices and valuation effects. Operational • Life premium income increases 53% to €2.7 billion, General by 10% to €790 million. • New production: NAPI rises strongly to €293 million. • German operations show some signs of recovery after a number of difficult years; premium volume up 3%. Strategic • Acquisition of Swiss Life Belgium completed; Delta Lloyd is now one of the top five life insurance companies in Belgium. • Talks about termination of ABN AMRO Insurance joint venture are ongoing. • New distribution channels via the internet (iZio, NSF, Virtes) gain momentum. • Discussions of unit-linked insurance cast a shadow over the market. Delta Lloyd Group sees a solution as imperative if customer confidence is to be restored. Delta Lloyd Group key figures (in millions of euros) First half First half Change 2008 2007 Result before tax 146 446 (67%) Result after tax 138 380 (64%) Gross premium income 4,383 3,400 29% - of which gross premium income in the Netherlands 3,960 3,022 31% Shareholders’ equity 4,213 5,366 (21%) PAGE 1/14 DELTA LLOYD GROUP IN THE FIRST SIX MONTHS OF 2008 Income and result Gross premium income of Life and General once again rose to new record levels, amounting to €4.4 billion in the first six months of 2008. Life was extremely successful in its acquisition of customers for large pension contracts: this made an important contribution to the 53% increase in premium income to €2.7 billion. Despite fierce competition, the General insurance portfolio continued to grow, achieving an increase of 10% to €790 million. Competition and price pressure in the general insurance market were already fierce, but have intensified further due to new entrants in the market. This is continuing to squeeze margins. In addition, our General insurance business is having to contend with lower investment results and the increased cost of claims. The result before tax of €146 million was substantially lower than in the first half of the record year 2007 (€446 million). The result was adversely affected by falling equity prices, rising interest rates and the increasing credit spreads. The credit crisis has also had an impact on Delta Lloyd Group’s balance sheet and result. The Group’s financial position nevertheless remains strong. The fixed income portfolio amounts to approximately €15 billion, half of which consists of government bonds (AAA ratings), while the other half comprises primarily of bonds with AAA or AA ratings. The value of this portfolio, as measured at fair value, is under pressure from the rising interest rates and the widening credit spreads. The composition of the portfolio provides very solid foundations for the Group’s strong financial position. However, the credit crisis has increased the assumed risk exposure, and this market sentiment has affected the value of Delta Lloyd Group’s fixed income portfolio. The increasing credit spreads are having a specific effect on the value of the fixed income portfolio (which is of very low risk) and translated into a net result that was €125 million lower. The very low risk profile (AAA/AA) of the portfolio means, however, that the chances of the current low valuations materialising are low. The low tax charge resulted in a net result of €138 million (2007: €380 million). One of the reasons for this charge being low is the successful policy of investing in 5% participating interests, where realised sales proceeds are exempt from tax. Costs need to be carefully managed in times of a weakened economic environment. The Executive Board is taking a series of measures to boost results and margins in the short term. The number of employees on a full-time basis rose by 2% to 6,398 as a result of acquisitions being consolidated. Equity position and solvency The factors currently affecting the market resulted in the Group’s solvency decreasing from 326% to 245% of the statutory requirement, but it nevertheless remains high. The solvency of the insurance operations is 269% (2007: 387%). Shareholders’ equity is €4.2 billion (year-end 2007: €5.1 billion). The bank’s BIS ratio is 11.8%. ABN AMRO Insurance ABN AMRO Bank Netherlands has informed Delta Lloyd Group that it wishes to terminate the ABN AMRO Insurance joint venture. To this end it plans to buy back Delta Lloyd Group’s 51% interest in the joint venture. PAGE 2/14 PRESS RELEASE First-half 2008 figures – Delta Lloyd Group Progress of the ‘Future Secured’ strategy Delta Lloyd Group maintains its ambition to attain at least a top three position in the Dutch insurance market in the coming years. Its strong financial position means it is well-placed to achieve this goal. Some years ago Delta Lloyd Group introduced its ‘Future Secured’ strategy, which is based on five strategic pillars (efficiency, reputation, distribution power, expertise and core values), as a means of achieving its ambition. The progress achieved in the five pillars over the past six months was as follows: 1. Efficiency Cost reductions and the simplification of processes and IT remain crucially important to the Group as these are propellants of strong growth. The ‘Sharing programme’, which focuses on integrating the back offices, is a key driver in this respect. IT costs decreased thanks to improved contract management and system standardisation. The process of concentrating activities made good progress, following the establishment on 1 January of the Pensions Expertise Centre and the income & absenteeism product group. Further opportunities for combining general insurance activities are being studied. The developments surrounding ABN AMRO Insurance are clearly influencing the business case of this programme. Simplifying processes in various business units help to increase efficiency and enable further growth. 2. Reputation Delta Lloyd Group’s reputation of being a reliable pensions partner is prompting more large companies to place their pension obligations with Delta Lloyd Group, and this successful development is expected to continue. Having a strong reputation also makes the Group more attractive as an employer, thus increasing the chances of filling vacancies with new permanent employees and reducing the need to use – expensive – temporary staff. A long-term recruitment campaign designed to improve Delta Lloyd Group’s position as an employer is set to be launched in October. Unit-linked insurance In the debate about the costs of unit-linked insurance Delta Lloyd Group is acutely aware of the need to achieve a structural solution with all parties involved as this is the only way to restore customers’ confidence and trust. Delta Lloyd Group is adopting the recommendations of the Financial Services Ombudsman (Wabeke) and is fully cooperating with investigations and requests for information from the government and supervisory authorities. As agreed within the Dutch Association of Insurers, all Delta Lloyd Group customers were sent value statements (Model 3 De Ruijter) by 1 April. The current discussions on unit-linked insurance are still, however, continuing. It is very important in Delta Lloyd Group’s view for agreement to be reached soon with all those involved. The Group has a preference for an industry-wide solution as the problems affect the entire sector. 3. Distribution power Reinforcing the distribution power is of strategic importance to the Group. The launch of the new insurer iZio and the comprehensive switch to the internet at National Savings Funds have strengthened the Group’s position among customers who appreciate speed, convenience and efficiency. Izio is an internet insurer that provides consumers with an all-in-one insurance solution for the most common types of insurance cover at fixed, low premiums. Delta Lloyd Bank Belgium has been successfully introducing ATMs outside its branches. 4. Expertise Delta Lloyd Insurance is offering intermediaries a new type of support in the form of well-researched sector reports that provide a practical understanding of specific sectors and ensure that the services offered match the needs of customers. PAGE 3/14 PRESS RELEASE First-half 2008 figures – Delta Lloyd Group Delta Lloyd Germany is organising roadshows to give advisers information on the changed insurance legislation in Germany ( VVG reform) . Delta Lloyd Life in Belgium received considerable media coverage for its Entrepreneurial Spirit Survey, while the weblog www.kapitalevragen.be has been attracting 30,000 visitors a month.

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