Decisions taken by 2004 Annual General Meetings

Dividend

The Annual General Meetings of Shareholders of Fortis N.V. and Fortis SA/NV have declared a gross dividend of EUR 0.92 per Fortis share for the financial year 2003. The dividend will be paid as from 17 June 2004.

 

The Fortis share represents one share in each of the two parent companies, Fortis N.V. and Fortis SA/NV. Shareholders can opt to receive dividend from Fortis N.V., thus from the Dutch source, or from Fortis SA/NV, the Belgian source. They need to make their preference known between 28 May and 11 June.

The schedule is as follows:

 

28 May 2004            Ex-dividend quotation

28 May 2004             Opening date for giving instructions on dividend source

11 June 2004     Closing date for giving instructions on dividend source (before market closes)

17 June 2004             Dividend released for payment

 

Net dividend paid out by Fortis N.V. in the Netherlands will amount to EUR 0.69 per Fortis share, being gross dividend less Dutch withholding tax of 25%.

 

Net dividend paid out by Fortis SA/NV in Belgium will amount to EUR 0.69 per Fortis share, being gross dividend less Belgian withholding tax of 25%. Any shares accompanied by coupon no. 33 from the VVPR strip will be subject to Belgian withholding tax of only 15%, so net dividend of EUR 0.782 per share will be paid on those shares.

 

 

Fortis's Annual General Meetings of Shareholders have re-appointed CEO Anton van Rossum as executive director of Fortis for the next three years, namely until the Annual General Meeting in 2007. Baron Philippe Bodson, Richard Delbridge, Jacques Manardo, Ronald Sandler and Rana Talwar have been appointed non-executive directors of Fortis.

 

To prevent several directors from having to step down at the same time, Jacques Manardo and Rana Talwar have been appointed for four years, i.e. until the AGM in 2008. Baron Philippe Bodson and Ronald Sandler have been appointed for three years, i.e. until the AGM in 2007, and Richard Delbridge has been appointed for two years, i.e. until the AGM in 2006.

 

Jan-Michiel Hessels and Piet Van Waeyenberge have been re-appointed non-executive directors of Fortis for three years, i.e. until the AGM in 2007.

 

Besides Anton van Rossum (59), as executive director, the Board of Directors of Fortis now includes the following non-executive directors:

 

Maurice Lippens (61, Belgian), Chairman                                  Jacques Manardo (57, France)

Jan Slechte (66, Dutch), Deputy-Chairman                                  Annemieke Roobeek (47, Dutch)

Philippe Bodson (60, Belgian)                             Ron Sandler (52, German)

Richard Delbridge (61, British)                                     Rana Talwar (56, Indian)

Jan-Michiel Hessels (62, Dutch)                                      Piet Van Waeyenberge (66, Belgian)

Daniel Janssen (68, Belgian)                         Klaas Westdijk (63, Dutch)

Subsequent to the changes to the Board of Directors, the members of the Audit Committee, Risk & Capital Committee and Nomination & Remuneration Committee are now composed as follows:

 

Audit Committee:                         Risk & Capital Committee:                        Nomination & Remuneration Committee:

Klaas Westdijk, Chairman                        Jan-Michiel Hessels, Chairman                                  Maurice Lippens, Chairman

Philippe Bodson                         Jacques Manardo                                   Daniel Janssen

Richard Delbridge                         Rana Talwar                             Annemieke Roobeek

Ron Sandler                         Piet Van Waeyenberge                           Jan Slechte

Fortis's Annual General Meetings of Shareholders have also approved the proposed amendments of the Articles of Association. These amendments refer to the composition and powers of the governing bodies, the simplification and harmonisation of the Articles of Association, and compliancewith new legislation and corporate governance practices.