Press release Date: 23 April 2014 For information: M.G.F.M.V. Janssen - Secretary to the Managing Board T: +31 20 557 52 30 I: www.kasbank.com Sharp rise in operating profit compared to Q1 2013; at €3.5 million, total profit down by about a quarter mainly due to a non-recurring income of about €2 million in 2013 Assets under administration up 3% in Q1 to €336 billion due to organic growth in the portfolio. Commission income was stable at €16.7 million (2013: €16.7 million) Restructuring proceeding according to plan. Costs fell by approximately 8% compared with Q1 2013 due to lower expenditure on pensions and hiring in external staff At 25%, capital adequacy remained high based on Basel 3 standards. The first quarter of 2014 was stable for KAS BANK. Interest income rose slightly as a result of the modest recovery in short-term interest rates and a marginal decline in liquidity in the European markets. Although interest rates are not returning to normal, narrow fluctuations are already having a positive effect on the bank's interest income. The introduction of new European regulations for both fund managers and derivatives settlement processes (AIFMD and EMIR) is resulting in additional commercial activity for KAS BANK. A substantial percentage of this new business will generate turnover for the bank from the second half of 2014 onwards, which is when the majority of the new regulations enter into force in Europe. Pension funds, insurers and fund managers are not always aware of the imperative nature of the new regulations, so they may be taken by surprise by the new rules this year. The restructuring measures which began at the start of 2014 are going according to plan. Costs will fall by around 10% in 2014, particularly staff costs and costs of purchasing services from third parties. There has already been a slight fall in costs during the first quarter and this trend will continue over the coming quarters. Very limited use was made during the first quarter of the restructuring provision formed in 2013. The bank's capital adequacy and liquidity remain strong and stable. Disclaimer: Although the information in this press release has been compiled with the utmost care and, in KAS BANK's view, accurately reflects the situation at the time of publication, KAS BANK cannot guarantee that this information is and/or will remain accurate and complete. Therefore, KAS BANK accepts no liability for damages resulting from the use of, reliance on or actions or omissions on account of the information in this press release. Press release Profile KAS BANK N.V. KAS BANK is a European specialist in wholesale securities services. As an independent bank, we connect professional financial institutions both within Europe and across the globe. We focus on providing added-value services to national and international organisations active in the pensions and securities industries. KAS BANK pursues a ‘pure play’ strategy, underlining the bank’s absolute neutrality and independence. A low risk profile is integral to its services and is reflected in the quality of its balance sheet and its high solvency ratio. We view the market from the perspective of our clients – tailor-made services and complete transparency are paramount in helping them to meet their business objectives. Founded in 1806 and listed on the NYSE Euronext Amsterdam stock exchange, KAS BANK is a European institution with a strong international presence. KAS BANK has offices in Amsterdam, London and Wiesbaden. Disclaimer: Although the information in this press release has been compiled with the utmost care and, in KAS BANK's view, accurately reflects the situation at the time of publication, KAS BANK cannot guarantee that this information is and/or will remain accurate and complete. Therefore, KAS BANK accepts no liability for damages resulting from the use of, reliance on or actions or omissions on account of the information in this press release.