1. CEO’s closing address Willy Duron Group Chief Executive and head of insurance business 5

2. 2 Group focus and profit growth Traditional strenghts: - Belgium - retail /SME Merger: Cross selling banking/insurance Cost synergies (1st phase) Expansion to CEE: New home markets/ acquisitions Mitigated ‘wholesale’ profile Consolidation (6 C dimensions): Cross selling Customer satisfaction Canvassing affluent customers Control of risks Cost efficiency enhancement Cross border synergies Stronger organic growth (and add- on acquisitions) Refinement of C- programs Profit growth Leading bancassurer in Belgium and CEE, delivering superior return levels “Consolidating business platform" "Broadening business platform" "Realising full potential of the platform" 1998-2001 2001-2004 2004-… Reconfirmed confidence in our strategy fundamentals

3. 3 Valuation still not too demanding * Sources EPS forecasts for KBC: KBC (2004) and I.B.E.S. (2005) Situation as of 31 May, 2004 P/E 04-05 CEE banks (1) 13.8 Eurozone banks (2) 12.3 CEE exposed banks (3) 11.5 KBC 10.3 Bel banks (4) 9.8 Unweighted IBES data : (1) OTP, Komercni, Pekao, BPH PBK, BRE (2) Top 25 of DJ Euro Stoxx banks (3) BACA, Erste, KBC, Unicredito, Soc Gen (4) KBC, Fortis, Dexia Key figures : Price : 46.8 EUR Net Asset Value : 35.4 EUR EPS 2003: 3.68 EUR Analysts estimates : EPS 2004 consensus : 4.35 EPS 2005 consensus : 4.75 P/E forward 2 years : 10.3 Recommendations : Positive : 10 Neutral : 7 Negative : 5 Valuation relative to peer group :

4. 4 Emile CelisChristian DefrancqJan VanhevelGuido Segers Herman AgneessensAndré BergenWilly DuronFrans Florquin Looking forward to meeting you

5. 5 Group CEO Head of insurance business Deputy Group CEO Head of banking business Co-ordination CEE Retail bancassurance HRM and Communication Group CFRO Transaction processing Non-life & reinsurance Claims management Corporate banking West-European, US & SE Asian bank network Retail credit Information technology Insurance subsidiaries Treasury & markets Asset Management International credit Emile CelisChristian DefrancqJan VanhevelGuido Segers Herman AgneessensAndré BergenWilly DuronFrans Florquin

6. 6 Contact information Investor Relations Office : Luc Cool Nele Kindt Tel. : +32 2 429 49 16 E-mail : investor.relations@kbc.cominvestor.relations@kbc.com Visit www.kbc.com for the latest update.www.kbc.com