Fines de la evaluación

F. VAN LANSCHOT BANKIERS N.V.

F. van Lanschot Bankiers N.V. (the 'Issuer' or the 'Bank') was incorporated on 1 January 1978, but can be considered to be the oldest independent Dutch bank with a history dating back to 1737. All outstanding shares in the capital of the Issuer are held by the holding company Van Lanschot N.V. and accordingly, Van Lanschot N.V. has complete control over the Bank. Both companies are public companies with limited liability ("naamloze vennootschappen") incorporated under Dutch law and have their statutory seats at 's-Hertogenbosch, the Netherlands. The Bank is active in different countries and operates under the law of various countries. F. van Lanschot Bankiers N.V. is registered in the Oost-Brabant Chamber of Commerce and Industry under No. 16038212. Van Lanschot N.V. is registered in the Oost-Brabant Chamber of Commerce and Industry under No. 16014051. The address of both the Issuer and Van Lanschot N.V. is Hooge Steenweg 27-31, 5211 JN 's-Hertogenbosch, the Netherlands, phone number +31 (0)73 6153911. The date of incorporation of Van Lanschot N.V. is 21 February 1953.

The objects and purposes of the Bank are described in article 2 of its articles of association. The objects of the Bank are to carry on the business of banking and of dealings in stock exchange securities, to administer the property of others, to act as insurance agent, to participate in other companies and to perform all kinds of other activities and to render all kinds of other services which are connected therewith or may be conducive hereto, all this to be interpreted in the widest sense. In pursuing the above objects the Bank shall, within the scope of a proper banking management, direct itself to the lasting interest of all those who are associated with the Bank and the business connected with it. The Bank's services mainly focus on high net-worth individuals and entrepreneurs. In addition, the Bank's subsidiary Kempen & Co N.V. also concentrates on the institutional market and offers investment services. Under the "Van Lanschot Kempen" brand, the Bank focuses on the top segment of high net-worth individuals (> € 5 million). Furthermore, the Bank offers financial services specifically for the healthcare sector under the "CenE Bankiers" brand. The Bank's services are organised into four business segments: Private Banking, Asset Management, Business Banking and Corporate Finance and Securities.

The services to high net-worth individuals revolve around wealth creation and protection. In this context, the Bank is able to offer a wide range of products and services. The Bank applies the principle of open architecture when offering products to clients, which means offering third-party products when this is in the client's interest. In the corporate sector, the Bank seeks to meet the private and professional needs of business owners and managers. The main clients are family businesses and their directors/majority shareholders, as well as medium sized enterprises. In the institutional market, the Bank mainly focuses on comprehensive fiduciary investment solutions.

The Bank consciously chooses a size which guarantees the right balance between complete and high-quality services and a personal approach, with short communication lines. The Bank is attentive and responsive to its clients' needs, while also offering a high degree of flexibility and discretion. Personal relationships are paramount. In business banking, co-entrepreneurship is the main ingredient of the Bank's client relationship. For this reason, most of the clients of the Bank expressly choose to bank with the Bank as a deliberate alternative to the large banks. The Bank greatly values its independence, being the cornerstone of its business model, in which the Bank puts the interests of its clients before all other interests. Therefore, the Bank's actions are guided by its clients' interests.

The Bank has 30 branches in the Netherlands, which means that the Bank is represented in most of the country's big towns and cities. This network allows the Bank to offer all financial services throughout the country. In addition, the Bank has eight branches in Belgium, giving the Bank a solid presence in the country's Dutch-speaking region and in Brussels. Unlike the operations in The Netherlands, Van Lanschot Belgium focuses exclusively on high net-worth individuals and institutional investors. Furthermore, the Bank has branches on Curaçao, on Jersey, in Luxembourg and Switzerland to serve its private clients elsewhere.

The Bank continues to invest in people, advanced ICT-solutions and in product and service concepts that meet its clients' needs. This allows the Bank to build a longterm relationship with its clients. The investments the Bank needs to make require a certain critical mass. At the same time, the personal approach imposes limits on how large the Bank can be.

The Bank aims to achieve organic growth (in terms of both the size of its client base and services and products sold), in addition to making selective acquisitions where necessary.

Depositary receipts of Van Lanschot N.V. shares, representing 52,96 per cent. of the ordinary share capital, are traded on Euronext Amsterdam.

Van Lanschot N.V. has issued a written undertaking of joint and several liability for all debts arising from any legal act of the Issuer under Section 403, Book 2 of the Netherlands Civil Code (the '403-Declaration'). As a consequence thereof, the Issuer does not publish a balance sheet and profit & loss account. The figures stated below refer to the semi-annual financial statements of Van Lanschot N.V. as per 30 June 2009.

On the basis of the 403-Declaration, Van Lanschot N.V. will be jointly and severally liable with the Bank for the debts resulting from legal acts of the Bank. Van Lanschot N.V. will have the right to withdraw the 403-Declaration at any time by depositing a declaration to this effect with the Oost-Brabant Chamber of Commerce and Industry. Nevertheless, the liability shall continue in respect of obligations which arise from legal acts performed before the withdrawal could be invoked against a creditor. Van Lanschot N.V. can also file a notice of its intention to terminate its remaining liability after withdrawal of the 403-Declaration. Such remaining liability will terminate if certain conditions are met, inter alia, that (i) the Bank no longer belongs to the same group of companies as Van Lanschot N.V. and (ii) a two month notice period has expired and the relevant creditor has not opposed the intention to terminate in time or such opposition was dismissed by the court.

Regulatory Status

The Bank qualifies as a bank within the meaning of EU directive 2000/12/EC. The Bank is authorised by the Dutch Central Bank to pursue the business of a bank ("bank") in the Netherlands, in accordance with the Act on Financial Supervision ("Wet op het financieel toezicht") and is consequently supervised by the Dutch Central Bank. In addition, the Bank is supervised by the AFM for the purpose of market conduct supervision.