Milano, 16 June 2005

ABN AMRO and Banca Intesa announce today that Banca Intesa has exercised its right to sell to ABN AMRO one third of its existing 11.58% holding in the capital of Banco ABN AMRO Real. ABN AMRO will issue on June 20th 2005 10,278,482 new shares to Banca Intesa to pay for the Banco ABN AMRO Real shares.


Banca Intesa had obtained its holding in Banco ABN AMRO Real in 2003 as partial consideration for the sale of its 94.57% stake in Banco Sudameris Brasil to Banco ABN AMRO Real. In relation to that transaction, Banca Intesa had obtained the right to sell one third of its position in Banco ABN AMRO Real to ABN AMRO in June 2005. Banca Intesa has the right to sell a further one third of its holding in June 2006 and the remainder of its holding in June 2007. ABN AMRO retains the right to call Banca Intesa’s shares in Banco ABN AMRO Real at any time. In all cases, ABN AMRO has the option to pay Banca Intesa either in cash or shares. 


The value of the Banco ABN AMRO Real shares is based on a price to book value of 1.82x, as agreed at the time of the Banco Sudameris transaction in 2003. 


Banca Intesa will include these newly-issued shares as financial assets held for trading.





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