1. ABN AMRO North America U.S. Home Market Analyst Presentation June 20, 2002

2. 0 2 N. Bobins Contents Background Strategy Retail Business Mortgage Business Commercial Business Managing for Value and Financial Performance Concluding Remarks

3. 0 3 C&CCWCSPCAM Consumer and Commercial Clients Wholesale Client Services Private Clients and Asset Management U.S. Brazil The Netherlands Rest of the World ABN AMRO, N.A. ABN AMRO Global Network

4. 0 4 ABN AMRO, N.A. Local Brands  Trusted, respected, admired  Relationship focused  Involved in the community Local, hometown banks One Bank/Two Brands

5. 0 5 Relative to U.S. Banks of Comparable Size: Think Global, Act Local  Superior technology  International capabilities  Financial strength ABN AMRO Advantages

6. 0 6 Source: ABN AMRO Annual Report, 2001 ABN AMRO Assets ABN AMRO Earnings All Other ABN AMRO ABN AMRO, N.A. 18% 82% 61% 39% Important Component of ABN AMRO

7. 0 7 ABN AMRO, N.A. Profit Contribution by Business Segment 2001 Retail 19% Mortgage 26% Commercial 55% Overview of Business Segments

8. 0 8 ABN AMRO, N.A. Assets (Billions) 20011979 Size USD 97 Organic Acquisition USD 51 USD 46 USD 1 A History of Growth…

9. 0 9 ABN AMRO, N.A. U.S. Earnings (Millions) * Source: FDIC Profits USD 8 19792001 USD 742 ABN AMRO, N.A. Industry* USD 74 Mgmt. estimates at least one-half due to organic sources …and Profits

10. 0 10 The U.S. banking industry consists of 9,000 banks holding nearly USD 8 trillion in assets ABN AMRO, N.A.  11th largest commercial loan portfolio  11th largest deposit base  5th largest mortgage originator  Largest U.S. chartered bank owned by a non-US financial institution  11th largest by assets Sources: SNL Securities, Mortgage Bankers Association, FDIC and American Banker Current Position in the United States

11. 0 11 The ABN AMRO N.A. Culture  Relationship driven  Superior marketing  Adhere to our regional footprint  Long-term approach to the market  Emphasize credit risk management  Invest in and keep our talent  Commitment to the communities we serve

12. 0 12 II. Centralized Risk Management  Centralized credit command –Reports up through Herman Siegelaar EVP/CCO  Sophisticated tracking and monitoring II. Centralized Risk Management  Centralized credit command –Reports up through Herman Siegelaar EVP/CCO  Sophisticated tracking and monitoring I. Relationship-Driven Front Line  Long-term relationship model  Regional and client focus  High degree of familiarity with our clients and our markets I. Relationship-Driven Front Line  Long-term relationship model  Regional and client focus  High degree of familiarity with our clients and our markets III. Diversification of Business  Geographic and product diversity –Mortgage banking –Commercial banking –Asset-based lending –Leasing III. Diversification of Business  Geographic and product diversity –Mortgage banking –Commercial banking –Asset-based lending –Leasing Focus on Credit Risk Management

13. 0 13 Norm Bobins President and CEO 21 year tenure 35 years in banking Harry Tempest Chairman 15 year tenure 37 years in financial services Sam Halim CIO 29 year tenure 32 years in banking Hill Hammock 27 year tenure 32 years in banking COO H. Siegelaar CCO 32 year tenure 32 years in banking Tom Heagy Vice Chairman 22 year tenure 35 years in banking Scott Heitmann Vice Chairman 25 year tenure 29 years in banking Tom Goldstein CFO 4 year tenure 15 years financial services, 19 finance Long Track Record as a Team

14. 0 14 Charitable Leadership: Community Development: Employee Volunteerism: The LaSalle Bank Chicago Marathon:  Affordable housing programs  Financial literacy programs  Non-profit board representation  Community outreach Commitment to the Community

15. 0 15 N. Bobins Contents Background Strategy Retail Business Mortgage Business Commercial Business Managing for Value and Financial Performance Concluding Remarks

16. 0 16 Strategy Driven by Goals  1979 – ABN acquires LaSalle Bank Goal: To be the best bank in Chicago  1990 Goal: To be the best bank in Illinois  1995 Goal: To widen our scope of influence in the Midwest  2002 Goal: To be the best middle market bank in the Midwest

17. 0 17 Strategy 2002 Goal  Leveraging our regional footprint with select acquisitions and geographic expansion  Expanding our penetration of additional products and services across existing client base  Increasing our market share in our home states and regional offices  Continuing to adapt operations to enhance efficiency

18. 0 18  Management changes  Name changes  Strategy changes  Decentralized decision making  Management changes  Name changes  Strategy changes  Decentralized decision making  Relationship focus  Strong regional footprint  Trusted, well-established brands  Service through advanced technology  Long tenure of senior management  Relationship focus  Strong regional footprint  Trusted, well-established brands  Service through advanced technology  Long tenure of senior management Major local competitors digesting acquisitions Opening up of the competitive landscape… … plays right into our strengths A Changing Landscape

19. 0 19 A homogeneous market with a stable base of service and manufacturing industries  Population: 57 million  GDP USD: 1.9 trillion –Strategically positioned regional footprint –Hub and spoke philosophy –Platform for significant regional expansion Regional Focus

20. 0 20 1.3 million km 2 1.4 million km 2 U.S. Midwest Western Europe The U.S. Midwest in Perspective GDP (USD trillions) United States …….…... European Union ……... Germany ……………… U.S. Midwest ……….… France …………….…... U.K. …………...……...... 9.3 8.0 1.9 1.4 1.3 Midwest Market Size

21. 0 21  Mortgage  Asset-Based Lending  Leasing  Global Securitized Trust  CMBS National BusinessesMarket Size  USD 2,100 B asset origination  USD 100+ B assets  USD 280 B assets  USD 260 M revenue  USD 70 B asset origination National Businesses

22. 0 22 The LaSalle Bank’s ABN AMRO Plaza, in the Chicago Loop  1.3 million square feet, 41 stories  Occupancy in 2003  Key features: –State-of-the-art facility –Five locations into one –Increased security –Reduced cost –Strengthens the culture Advanced Technology

23. 0 23 Contents S. Heitmann Background Strategy Retail Business Mortgage Business Commercial Business Managing for Value and Financial Performance Concluding Remarks

24. 0 24 Consumer Credit Products Mass Market and Mass Affluent Consumers Mass Market and Mass Affluent Consumers Investment and Annuity Products Consumer Banking Products Retail Business Segment Retail Business Description

25. 0 25 0 100 200 300 400 500 600 1992199319941995199619971998199920002001 Deposit Growth USD Billions $11 $17 $22 $35 $12 $18 $36 $40 $42 $48 CAGR 17.8% A History of Growth

26. 0 26 Source: American Banker, FDIC –#2 deposit position –10% share of deposits Illinois –#2 deposit position –18% share of deposits Michigan Current Market Position

27. 0 27 Michigan National Branch Expansion Talman Exchange National Comerica-Illinois CNBC Cragin Savings of America Standard Federal Number of Branches Lane Financial 1997199619991998200020011995 287 114 300 293 299 390 104 Growth Fueled by Acquisition

28. 0 28 Retail Segment Leadership Tom Zidar Jeff ConnerAl Harker Investments and Insurance Consumer Lending and Mortgage Consumer Banking 14 year tenure 32 years in banking 30 year tenure 30 years in banking 5 year tenure 12 years in banking Management Team

29. 0 29 Regional dominance through relationship banking Pursue the Mass Affluent customer segment …focusing on the most profitable customers Building long-term banking relationships... Building Value in the Retail Market High economic profit businesses Retail Strategy

30. 0 30 This market segment represents a large opportunity for ABN AMRO, N.A. Over 1.5 million Mass Affluent households in Illinois and Michigan Average Mass Affluent customer is four times as profitable as an average Mass Market customer Why Target Mass Affluent Customers?

31. 0 31 Education Home Ownership Home Improvement Retirement Estate Management College Savings Mutual Funds Retirement Accounts Annuities Insurance Financial Planning Demand Deposits Consumer Loans Savings/Time Deposits Banking Products Life Event Customer Offerings

32. 0 32 Identified seven distinct Mass Affluent customer segments Leverage existing retail relationships by targeting retirees, pre-retirees, established families and small business owners, many who are already retail clients Focus on those customer segments that can be influenced using a consultative selling approach Pursuing the Mass Affluent Customer

33. 0 33 Data Warehouse Sets foundation for marketing decisions: –Customer segmentation –Targeting –Positioning of product offering Data Mining Customer Profiles Profitability Matrix Knowledge Management and Data Mining

34. 0 34 Data Mining Results Product Design and Positioning Advertising Mass Affluent Customer Channels Direct Marketing Branches Agent Services VRU Tele-salesInternet eCareATMs Focused Marketing

35. 0 35 Revenue Growth Annuities 41% growth Investment Products 81% growth Home Equities 37% growth Growth Record

36. 0 36 Increased Market Share Acquisition Increased Delivery Capacity de Novo Branch Expansion Affluent Customer Strategy Product Development National Home Equity Lending Geographic Expansion Future Growth Drivers

37. 0 37 Contents S. Heitmann Background Strategy Retail Business Mortgage Business Commercial Business Managing for Value and Financial Performance Concluding Remarks

38. 0 38 The U.S. Mortgage Banking Industry USD 15 billion in industry profits Servicing USD 5.8 trillion in assets 6% Annual Growth Origination USD 2.1 trillion in assets 14% Annual Growth (62% brokers) Source: Inside Mortgage Finance; Marakon Analysis Mortgage Business Description

39. 0 39 No prepayment penalty: –Refinance leads to higher origination market Capital requirements are low U.S. Market Key Structural Differences between U.S. and European Markets Prepayment penalty: –No refinance market and lower origination volume Limited secondary market, assets kept on books: –Credit risk stays with bank –Funded via bond issuances Government agencies create liquid securitization market: –Credit risk sold off –Need not be self funded Capital requirements are high European Market

40. 0 40 …create significant advantages in the U.S…. –U.S. banks require much less self-funding than Europeans –U.S. funding instruments are much less expensive –U.S. credit risks can be sold to investors –U.S. has a refinance market, boosting origination volumes …but U.S. banks must manage prepayment option risk Structural Differences between U.S. and European Markets

41. 0 41 –Product is commoditized and customers more price sensitive –Technology is lowering cost to serve –Origination market migrating to Internet channel –Prepayment speeds increasing with each refinance wave Increased scale economies and narrowing margins are driving market consolidation 1 Staying closer to the customer through Servicing is becoming a competitive advantage 2 U.S. Mortgage Market Trends

42. 0 42 Keys to Success –Multiple distribution channels –Manage retention –Scale –Efficiency –Prepayment risk management ProfitabilityGrowth U.S. Mortgage Market

43. 0 43 Building Value in the Mortgage Market Gaining competitive advantage in customer access… …and retaining relationships to ensure long-term profitability Build relationships with wholesale originators focused on brokers Origination: Retaining servicing to create push refinance and cross-sell market Servicing: High economic profit businesses Mortgage Strategy

44. 0 44 ANB AMRO, N.A. Rank: Market Share: #5 4.5% Strategy has allowed ABN AMRO, N.A. to build substantial position in the market Source: Inside Mortgage Finance. Numbers as of 1Q 02 Market Share: #7 2.7% ANB AMRO, N.A. Rank: OriginationServicing ABN AMRO, N.A. Market Position

45. 0 45 Source: Mortgage Origination Growth 19961997199819992000Today2001 National Rank #9 1.8% Market Share #8 2.0% #6 2.3% #5 4.5% #9 1.8% #8 2.2% #6 3.9% A History of Growth

46. 0 46 Mortgage Servicing Growth National Rank 1996 0.6% 1997199819992000Today2001 #31 #18 1.0% Market Share #15 1.3% #13 1.6% #10 2.1% #7 2.7% #8 2.5% A History of Growth

47. 0 47 Mortgage Business Leadership Willie Newman 13 year tenure 16 years in banking Rich Geary COO, Mortgage Servicing Stan Rhodes 29 year tenure 29 years in banking CEO, Mortgage Jeff Conner 14 year tenure 32 years in banking Mortgage and Consumer Lending 28 year tenure 28 years in banking COO, Mortgage Origination Management Team

48. 0 48  Distribution channels  High credit quality  Scale and low cost base  Flexible cost structure  Sales and marketing effort Keys to success:  National network of broker relationships  Advantaged broker support infrastructure with MOAI.com  Advantaged cost position  Branch network sales skills ABN AMRO, N.A. position: Mortgage Origination

49. 0 49  Cost structure  Quality of service  Customer retention at refinance  Cross-sell fee products Keys to mortgage servicing: ABN AMRO, N.A. position:  Retention ensured by National Lending Center  Customer profitability warehouse to drive marketing  Cross-sell to improve customer loyalty Mortgage Servicing

50. 0 50 Mortgage application Pipeline hedged to expected fallout Loan funded Hedge adjusted Mortgage Origination Process Hedge closed, offsets realized as fee income Gain on sale recognized Servicing asset (MSR) booked at market Net interest income realized Loan warehoused Loan securitized, sold Credit risk transferred Mortgage Risk Management

51. 0 51 MSR Value = PV of expected future servicing cash flows –MSR value depleted by principal payments and prepayments –Prepayments accelerate when interest rates fall Mortgage Servicing Process MSR monthly beginning balance New originations + Principal payments - Pre- payments - MSR month ending balance = Pre- payments Mortgage Risk Management

52. 0 52 OriginationServicing Hedges Origination and Servicing are natural hedges against one another Kept in balance through use of hedge instruments Hedges adjusted when out of balance Origination Servicing Hedges Origination Servicing Hedges OriginationServicing Hedges Mortgage Risk Management

53. 0 53 Source: The U.S. mortgage industry has experienced volatility over the past 13 quarters... 0 100 200 300 400 500 Refinance Origination Volume (USD Billions) Q1 Q2 Q3Q4Q1Q2Q3Q4 Q1Q2Q3Q4 Q1 1999200020012002 Risk Management in Practice

54. 0 54 …ABN AMRO, N.A. has successfully managed risk through the cycle Originations MSR Hedging Servicing Q1 1999 Q2Q3Q4Q1 2000 Q2Q3Q4Q1 2001 Q2Q3Q4Q1 2002 Risk Management in Practice

55. 0 55 –Refinance market will soften –“Purchase originations will be stronger than last year,” and home sales, which hit new highs in 2001 will do so once again in 2002. –Fannie Mae chief economist David Berson Short-term: –Based on demographic trends, Freddie Mac projects total U.S. mortgage debt outstanding to double by 2010 Long- term: U.S. Mortgage Market Outlook

56. 0 56 Contents N. Bobins Background Strategy Retail Business Mortgage Business Commercial Business Managing for Value and Financial Performance Concluding Remarks

57. 0 57 Revenue Contribution Commercial Real Estate 17% Wealth Mgmt 8% Middle Market 37% Small Business 10% Trust 7%ABL 14% Financial Institutions 3% Leasing 4% Commercial Segment

58. 0 58 Seasoned Commercial Segment Leadership John Newman John LynchMark HoppeDavid Rudis Larry Richman Commercial Real Estate Metro Chicago and Financial Institutions Michigan Middle Market and Small Business Leasing and Wealth Management Illinois Middle Market Mike Sharkey Asset-Based Lending 32 year tenure 32 years in banking 28 year tenure 32 years in banking 21 year tenure 25 years in banking 20 year tenure 26 years in banking 21 year tenure 26 years in banking 18 year tenure 24 years in banking R. Hampton Corporate and Securitized Trust 5 year tenure 31 years in banking Management Team

59. 0 59 –Developers, REITs, operators and servicers, pension funds Middle Market Metro/Small Business Commercial Real Estate Financial Institutions –Companies with sales between USD 50 million and USD 1 billion –Companies with sales below USD 50 million –Full product suite for regional peers and downstream community banks Key Client Segments

60. 0 60 Most attractive corporate market: –Clients do not have ready access to capital markets –Limited number of providers –Clients are relationship driven, not price driven ABN AMRO, N.A. approach: –Provide credit at profitable spreads –Emphasize cross-sales opportunities –Offer a combination of a broad product line and strong local market presence Why Target the Middle Market?

61. 0 61 –High-quality relationship managers –Ability to customize the product –Capitalize on transitional challenges facing our competitors –Sell through a powerful network of relationships –Emphasize consistent execution, customer knowledge, and building the local brand –Commercial clients with $50MM to $1B in revenue –Cross-sell a comprehensive suite of financial services, including cash management, foreign exchange, etc. Middle Market Commercial Banking Business Definition Competitive Advantage Business Model

62. 0 62 –Long-standing presence –Well-established brand –Eight regional commercial offices located in the Chicagoland area –Serve small business market through 125 branches –Services emerging middle market and small business clients –Target clients with revenue of less than $50MM Metro/Small Business Business Definition Competitive Advantage Business Model

63. 0 63 –Unchallenged leader in Chicago market –Prominent position within the Midwest –Substantial capital markets capabilities A full range of services, including: –Interim construction financing –Commercial mortgages –For-sale housing –Corporate services providers –REITS –Securitization –Relationship driven –Disciplined lending approach –Experienced staff –Geographic expansion –Interest rate protection Commercial Real Estate Business Definition Competitive Advantage Business Model

64. 0 64 –More than 40 years of experience –Achieved scale: #5 market share in the U.S. –Established geographic network –Diversified portfolio –Expands offerings and type of clientele –Extends life cycle –Higher yielding assets –Collateral monitoring and tight controls –Collateral-based lending Asset-Based Lending Business Definition Competitive Advantage Business Model

65. 0 65 –Leverages long- standing client relationships –Enhances client retention –Creates “one-stop shop” –Target family business owners –Integrate commercial and personal wealth issues –Work in conjunction with personal legal and tax experts –Investments –Financial Planning –Insurance –Succession Planning –Business Valuation Wealth Management Business Definition Competitive Advantage Business Model

66. 0 66 –70 years of experience –Specialize in bank stock lending –Becoming the Internet Correspondent Bank Offers a full range of correspondent services, including: –Bank stock loans –Check clearing services –Fed funds purchased –Trade finance –Foreign exchange –Call on > 1,000 banks within regional footprint –Use technology to expand service and reduce costs –Emphasize client responsiveness Financial Institutions Business Definition Competitive Advantage Business Model

67. 0 67 –Superior service capability –Installed client base –Augments economic profit –Sold by Commercial relationship managers –Initial contact is heavily sales and marketing driven –Repeat business is strongly service driven –Corporate Trust Services –Employee Benefit Service –Land Trust –Deferred Exchange Corporate and Institutional Trust Business Definition Competitive Advantage Business Model

68. 0 68 –Brand name –Superior service capability –Reputation –High economic profit business –National business –Referral driven –Repeat business is strongly service driven -Fewer, larger clients -Institutional investors -Asset managers Comprehensive trust and collateral services –CMBS/RMBS –Cash Managed Loans –CLOs/CBOs –Document Services Business Definition Competitive Advantage Business Model Global Securitized Trust

69. 0 69 44% Average Pre-tax Margin Middle Market Financial Institutions Commercial Real Estate 32% growth 48% growth 12% growth Wealth Management 39% growth Small Business 22% growth Trust 16% growth Regional Businesses: Asset-Based Lending Leasing 37% growth 20% growth National Businesses: Global Securitized Trust 25% growth Commercial Performance

70. 0 70 Geographic Expansion Increased Market Share Acquisition Further Penetration of Local Markets Cross-Selling One Culture Add Regional Offices Leverage National Business Future Growth

71. 0 71 Contents Background Strategy Retail Business Mortgage Business Commercial Business Managing for Value and Financial Performance Concluding Remarks T. Goldstein

72. 0 72 Historically embedded in ABN AMRO, N.A. culture –Interest rate risk management –Disciplined pricing –Strategy –Interest rate risk management –Disciplined pricing –Disciplined acquisitions –Intelligent credit –Performance Future Growth Drivers

73. 0 73 Three-Pronged Approach:  Broaden product/service offering to customers  Expand Midwest presence to create dominant position in a third market  Fortify position in Michigan and Illinois Disciplined Acquisitions

74. 0 74 LaSalle National19791.0 Lane Financial19881.6 Exchange National19903.2 Talman19925.3 Cragin19942.7 Savings of America19941.6 Comerica-Illinois19961.3 CNBC19960.8 Standard Federal199716.0 Michigan National200112.0 AcquisitionYear –10 acquisitions –USD 45 billion in assets –Successful track record of integration: –Cultural migration –High cost takeouts –Short timelines –Minimal customer disruptions –Economic profit generating acquisitions Assets (USD B) Acquisition Track Record

75. 0 75 –Interest rate risk management –Disciplined pricing –Strategy –Interest rate risk management –Disciplined pricing –Intelligent credit –Disciplined acquisitions –Performance Historically embedded in ABN AMRO, N.A. culture Managing for Value Mindset

76. 0 76 Nonaccrual Loans to Total Loans* 0.0% 0.2% 0.4% 0.6% 0.8% 1.0% 1.2% 1.4% 1.6% 1.8% 1Q 012Q 013Q 014Q 011Q 02 IllinoisMichiganMidwest Peer Group *excludes Loans Held for Sale Source: Uniform Bank Performance Report, OCC Intelligent Credit

77. 0 77 Net Charge-offs to Total Loans* 0.0% 0.2% 0.4% 0.6% 0.8% 1.0% 1.2% 1Q 012Q 013Q 014Q 011Q 02 IllinoisMichiganMidwest Peer Group *excludes Loans Held for Sale Source: Uniform Bank Performance Report, OCC Intelligent Credit

78. 0 78 –Interest rate risk management –Disciplined pricing –Strategy –Interest rate risk management –Disciplined pricing –Intelligent credit –Disciplined acquisitions –Performance –Intelligent credit Historically embedded in ABN AMRO, N.A. culture Managing for Value Mindset

79. 0 79 432 508 606 742 1998199920002001 (USD Millions) Pro forma: Excludes EAB Source: C&CC U.S. segment reporting (excl. EAB) for 2001, comparable internal management reporting for prior years Earnings Growth

80. 0 80 Q1 2001Q1 2002 Source: C&CC U.S. segment reporting (excl. EAB, incl. MNC in Q1 2001) Q1 2001 versus Q1 2002 (USD Millions) Pro forma: Excludes EAB, includes MNC prior to acquisition MNC 36 220 247 184 Earnings Growth

81. 0 81 19% 16% 15% 14% 1998199920002001Q1 2002 Peer Normalized Return on Common Equity* Pro forma: Excludes EAB Source: C&CC U.S. segment reporting (excl. EAB) for 2001 and 2002, comparable internal management reporting for prior years * Common Equity calculated as 7.6% of RWA with corresponding adjustment to Net Interest Income (annualized) Return on Common Equity

82. 0 82 86 74 67 68 1998199920002001 Period-End Assets (USD Billions) Pro forma: Excludes EAB MNC Source: C&CC U.S. segment reporting (excl. EAB) for 2001, comparable internal management reporting for prior years 97 11 Asset Growth

83. 0 83 39% 32% 26% 25% 1998199920002001 Non-interest Income as a Percentage of Total Net Revenue Pro forma: Excludes EAB Source: C&CC U.S. segment reporting (excl. EAB) for 2001, comparable internal reporting for prior years Fee Income Ratio

84. 0 84 53% 56% Q1 2001Q1 2002 Q1 2001 vs. Q1 2002 Pro forma: Excludes EAB, includes MNC prior to acquisition Source: C&CC U.S. segment reporting (excl. EAB, incl. MNC in Q1 2001) Efficiency Ratio

85. 0 85 Source: C&CC U.S. segment reporting; AANA Inc. FRY9-C C&CC U.S. - Q1 2002 * Head Office Accounting Adjustments include differential for Dutch provision, amortization of security gain/losses and purchase accounting Reconciliation of Segment vs. Legal Entity Reporting (USD Millions) Net Income - AANA Inc. Legal 198.2 NIAC - C&CC Segment Reporting247.0 Head Office Accounting Adjs* (0.4) FAS 133/MSR Specific (49.0) Other SBUs 14.2 Structure Differences (26.6) Preferred Dividend 13.0

86. 0 86 Mortgage Pipeline Pipeline10 Yr Bond Rate The mortgage pipeline began to slow in March Source: C&CC U.S. internal management reporting, Federal Reserve 0 2 4 6 8 10 12 14 Jan '01 FebMarAprMayJunJulAugSepOctNovDecJan '02 FebMar USD Billions 4.5% 4.7% 4.9% 5.1% 5.3% 5.5% Performance Outlook

87. 0 87 Starting in 2nd quarter 2001, loan volume plateaued as a result of economic weakness Commercial Loans 10 20 30 40 Q1 '99 Q2 '99 Q3 '99 Q4 '99 Q1 '00 Q2 '00 Q3 '00 Q4 '00 Q1 '01 Q2 '01 Q3 '01 Q4 '01 Q1 '02 USD Billions IllinoisMichigan Deliberate MNC portfolio reduction Source: C&CC U.S. internal management reporting MNC acquisition Performance Outlook

88. 0 88 Contents Background Strategy Retail Business Mortgage Business Commercial Business Managing for Value and Financial Performance Concluding Remarks N. Bobins

89. 0 89 Themes… Strong and growing presence in the U.S. Midwest with marketing scale 1 2 Three businesses with synergistic benefits and operational scale 3 An experienced and accomplished management team 4 A strong marketing culture with a bottom-line orientation 6 Strong support from ABN AMRO N.V. 5 Continued opportunities for growth Retrospect

91. 0 91