Online Banking Report Names ING DIRECT a Top Innovation of 2002; Recognition Underscores Success of Direct Banking Business Model

Business Wire, April 2, 2003

Business Editors

WILMINGTON, Del.--(BUSINESS WIRE)--April 2, 2003

Online Banking Report has named ING DIRECT as one of the Top Ten Innovations in the financial services industry for 2002, an acknowledgement given to ING DIRECT for proving the viability of the direct business model.

ING DIRECT's selection was based upon its tremendous growth, having amassed one million customers as of September 2002 after just two years of operation, up from 250,000 customers in September 2001. Assets also significantly increased during the same time period, up from $3 billion to $10 billion. Additionally, ING DIRECT ranked in the top 10 of the most visited financial services web sites in 2002.

These achievements were capped by achieving profitability in 2002, two years ahead of plan.

"We are pleased to be recognized by Online Banking Report for leading so many Americans back to saving in our first two years in operation in the U.S.," said Arkadi Kuhlmann, President and CEO, ING DIRECT. "Our key has been to focus on delivering a few key products where we can provide unusually good value. We are glad both consumers and Online Banking Report recognize that our products and way of doing business represent a very meaningful breakthrough. The simplicity of doing business with us is also very important. Making a deposit or withdrawal is as easy as calling us or visiting www.ingdirect.com. Customers simply tell us how much they want to transfer, and the funds are transferred electronically at no charge between the customer's current checking account and their Orange Savings Account. The money in an Orange Savings Account earns America's highest yield with no fees and no minimums."

Offering savings and loan products through a direct business model allows ING DIRECT to operate with low overhead, without the expense of maintaining traditional bank branches, allowing ING DIRECT to pass this cost savings on to its more than one million customers in the form of great rates.

Online Banking Report also recognized ING DIRECT's web site as one of the top 10 most visited financial web sites in 2002, noting a 200% increase from November 2001 to November 2002 in the number of ING DIRECT online users.

In the last year, ING DIRECT has added many new features to its web site to help customers simplify their financial world. One of the additions is an instant conditional approval feature on the Orange Home Equity Line of Credit that lets customers know immediately whether they have been approved and the amount of the loan.

ING DIRECT also added a Tips and Tools section in response to customer requests for guidance on various financial topics.

About ING DIRECT

Headquartered in Wilmington, DE, ING DIRECT is the operating name of ING Bank, fsb (Member FDIC), a federally chartered savings bank offering the Orange Savings Account, the nation's highest yield with no minimums and no fees. ING DIRECT is part of ING (NYSE:ING), one of the top 25 largest financial organizations in the world with more than $700 billion in assets.

ING has been operating in the U.S. for over 100 years, with more than 11,000 employees working for ING companies. ING DIRECT USA has over 1,000,000 customers and more than $13 billion in assets.

ING DIRECT USA is one of seven direct banks operated globally by ING; the other locations are Canada, Australia, France, Spain, Italy and Germany (where ING DIRECT is known as DiBa), with a total worldwide customer base of five million (including U.S. customers). For product information or to open an account, visit ingdirect.com or call 800/ING-DIRECT.

Style note to Editors: ING DIRECT is always capitalized and never referred to as ING.