Press Releases

ABN AMRO Mellon Announces Four New Insurance Company Mandates

LONDON, November 5, 2002—ABN AMRO Mellon, the global custody alliance, has won new mandates to provide custody and value-added services to four Dutch insurance companies. ABN AMRO Mellon will provide a combination of core custody and value-added services to DBV Levensverzekeringsmaatschappij N.V., DELA Natura Uitvaartverzekeringen N.V., Monuta Verzekeringen and Nieuwe Hollandse Lloyd (NHL). The combined value of the funds is more than EUR 1 billion.

Details of the mandates are as follows:

• DBV Levensverzekeringsmaatschappij N.V. has appointed ABN AMRO Mellon to provide core custody as well as recordkeeping, U.S. GAAP- based investment accounting, and securities lending services to its Life funds, which cover some 130,000 policyholders.

• DELA Natura Uitvaartverzekeringen N.V. has appointed ABN AMRO Mellon to provide custody for, amongst others, its European equity fund. The company provides funeral insurance for more than 2.2 million people.

• Monuta Verzekeringen has appointed ABN AMRO Mellon to provide core custody and securities lending services to its European fixed income and equity funds. Monuta provides funeral insurance in its capacity as the Netherlands' largest undertaker.

• NHL, a Dutch subsidiary of Munich Re, has appointed ABN AMRO Mellon to provide core custody as well as accounting and performance measurement for its two Life and Damage portfolios.

Central to ABN AMRO Mellon's appointment was the need of these insurance companies for increased efficiency and integration, and the ability to take advantage of ABN AMRO Mellon's extensive online reporting capabilities and ability to work with multiple accounting principles.

Comments Jan van Beek, Manager, Finance at NHL, "ABN AMRO Mellon was selected as the best match for our specific requirements during the tender process, and we had the added surety of a number of independent recommendations from existing clients during industry discussions."

"Our continued momentum in winning new mandates is testament to the fact that we have the right people and strategy in place to meet our clients needs," comments Rene Wiegel, Head of Relationship Management Europe for ABN AMRO Mellon. "ABN AMRO Mellon has developed a strong track record in translating specific client requirements into tailored solutions, and we are pleased to be able to continue this trend with these four insurance companies."

ABN AMRO Mellon Global Securities Services is a 50-50 joint marketing alliance between ABN AMRO Bank N.V. and Mellon Financial Corporation, providing global custody securities services to institutions around the world with the exception of North America. In July 2002, ABN AMRO and Mellon agreed to formalise the alliance which, subject to regulatory approval, will create a new, separately capitalised financial services company. The alliance combines ABN AMRO's worldwide servicing presence with Mellon's advanced technology and product capabilities. ABN AMRO Mellon focuses on providing both global custody and value-added products and services, such as compliance monitoring, investment accounting, performance measurement and analytics. Visit ABN AMRO Mellon's web site at www.abnamromellon.com.