press release

Overwhelming majority of Dexia Bank Nederland clients accept the Duisenberg Arrangement, hereby substantially reducing legal risks

An overwhelming majority of the share leasing clients of Dexia Bank Nederland (Dexia) consider the Duisenberg Arrangement as a fair proposal.
On January 25, 2007, the Amsterdam Court of Appeal granted binding force to the Duisenberg Arrangement.  Pursuant to this judgement, the application of the "Law of Settlement of Mass Damage" binds all concerned clients to the Duisenberg Arrangement as long as they do not opt out within a six month period which ended on July 31, 2007.
Out of the 190,000 clients who were involved, about 24,700 opted out during the 6 months period. The opt-outs are in majority members of Leaseproces B.V. (some 16,000). Besides, about 2,400 clients who had already started a legal procedure against the bank opted out. This means that only 6,400 clients, who are not part of Leaseproces and had not yet started a legal procedure, decided to opt out.
Above all, this means that the legal uncertainty linked to the 165,300 clients who did not opt out is eliminated.
Dexia remains convinced that the Duisenberg Arrangement is a fair agreement and will continue to defend its position with the clients who opted out. 
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