BRUSSELS, Belgium, Aug. 17, 2005 (PRIMEZONE) -- At the time of the announcement of the Fortis' execution of a Share Sale and Purchase Agreement (the "Agreement") with Dogan Sirketler Grubu Holding A.S. and certain other sellers for acquiring a 89.34% stake in Disbank (12 April 2005), Fortis had stated that final purchase price would be determined by way of considering the difference in the net asset value as stated in the Disbank's audited financial accounts for the period ending 31 May 2005 and the 31 December 2004 audited financial account. The parties have, on this basis, entered into negotiations for determining the final purchase price in accordance with the price adjustment mechanism stipulated in the Agreement.
Both parties have agreed on a positive adjustment of YTL 3 million (EUR 1,79 million) for 100% of Disbank's shares. As a result, the total acquistion price will amount to EUR 986.8 million.
Fortis is an integrated financial services provider active in the fields of banking and insurance. With a market capitalization of EUR 31.4 billion (31/07/2005) and around 55,000 employees, Fortis ranks in the top 20 of European financial institutions. In its home market, the Benelux countries, Fortis occupies a leading position which it aims to develop and bolster. Fortis is drawing on the expertise it has acquired in its home market to realize its European ambitions via growth platforms. Fortis also operates successfully worldwide in selected activities. In specific countries in Europe and Asia it effectively exploits its know-how and experience in bancassurance. Fortis is listed on the exchanges of Amsterdam, Brussels and Luxembourg and has a sponsored ADR programme in the United States. More information is available on www.fortis.com