Fortis opts for Gold Standard carbon credits Press Release

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(1)Press Release Brussels / Utrecht / Basel, 3 May 2007. Fortis opts for Gold Standard carbon credits The Gold Standard Foundation – supported by 38 non-governmental organisations (NGOs) – endorses Fortis’s carbon offset programme Fortis is committed to saving energy, using green electricity and offsetting any remaining carbon (CO2) emissions. This leads to carbon neutrality for Fortis’s operations worldwide as of January 2007 1 . At least 50% of Fortis’s carbon offsets should be Gold Standard. The Gold Standard Foundation, a labelling body created by a group of NGOs, has reviewed the strict quality criteria that Fortis uses when purchasing offsets, and fully endorses them. Fortis attempts to minimise its carbon emissions by saving energy and purchasing green electricity. It will offset its remaining emissions, which are expected to amount to some 180,000 tons of carbon 2 in 2007 – 15% less than in 2006. The result is carbon neutrality, involving the netting out of all emissions at all Fortis’s operations worldwide as from January 2007.. Fortis Rue Royale 20 1000 Brussels Belgium Archimedeslaan 6 3584 BA Utrecht The Netherlands. Fortis will purchase carbon credits originating from projects like windmills and solar or biomass power stations, preferably in emerging economies. We will select only credits that comply with the highest quality standards. Credits must represent real additional emission savings and support non-fossil fuel-based energy systems. They must also make a valid contribution to (local) sustainable development, e.g. by facilitating small projects that promote local employment 3 .. www.fortis.com. Michael Schlup, Executive Director of the Gold Standard Foundation, comments: ‘As a quality labelling organisation for carbon credits, the Gold Standard Foundation is happy with Fortis’s choice of premium quality. This shows that Fortis takes its carbon neutrality programme very seriously. Furthermore, by choosing the Gold Standard, Fortis can be sure of making a real contribution to combating climate change, and to strengthening (local) 1. For more details, please refer to our press release of 20 December 2006. This figure has been extrapolated from 2006 emissions (as reported in Fortis’s 2006 Corporate Social Responsibility Report). It assumes 10% growth in FTEs in 2007, constant emission intensity and source spread per FTE, and takes into account the carbon-preventing effect of green electricity purchases for our operations in Belgium (as from January 2007) and the Netherlands (according to expectations as from the second half 2007). Emissions grew from about 195,000 metric tons in 2005 to about 220,000 metric tons in 2006, driven by robust business growth and the fact that the carbon neutrality programme did not come into effect until 2007. 3 Fortis prefers the Clean Development Mechanism (CDM) to Joint Implementation (JI) projects for credits sourced within the Kyoto Protocol framework, as the former focuses on underdeveloped countries. We exclude carbon sinks / sequestration (including forests), large-scale hydropower (over 15MW), and waste gas or industrial gas flaring projects (including HFCs). Fortis prefers renewable energy projects (wind, solar, small-scale hydro [below 15MW], biomass / biogas or liquid biofuel [if used to produce electricity]). 4 The choice of a 50% threshold (instead of 100%) is to ensure some flexibility in a market that is currently experiencing excess demand for Gold Standard CERs. If Fortis cannot meet this target in any given year, it will comply with it on aggregate within the time horizon of the carbon neutrality programme, i.e. 2007 to 2010. 2. WorldReginfo - cf534ce5-df89-404b-8eac-e483aaf6bfbc. To ensure these requirements are met, at least 50% 4 of Fortis’s offset portfolio should consist of credits bearing the internationally recognised Gold Standard label. The remainder will have to undergo a rigorous selection procedure that Fortis Corporate Social Responsibility (CSR) and Fortis Carbon Bank have established in close collaboration with the Gold Standard Foundation..

(2) sustainable development. We applaud Fortis’s comprehensive and rigorous approach, and so do the 38 non-governmental organisations that endorse the Gold Standard. ‘ Lex Kloosterman, Fortis Chief Strategy Officer and Executive Committee member responsible for CSR, explains: ‘The Gold Standard Foundation marries support for high social and environmental objectives with expert advice. Wide-ranging consultation among stakeholders and the key actors in the carbon market (including governments) led to the formulation of the Gold Standard. This ensures a realistic, robust, and widely acknowledged appraisal procedure for offset projects, and results in the highest quality credits for voluntary buyers like Fortis. Our collaboration with the Gold Standard Foundation and our choice of premium quality credits shows that we consider climate change to be one of the most important challenges facing the world and business leaders today. We want to make a meaningful contribution to fighting climate change, and to establishing Fortis as a climate leader.’. Fortis will give regular updates on the programme’s progress by means of its formal reporting channels, such as its annual Corporate Social Responsibility Report.. Press Office: Brussels:. +32 2 565 3584. Utrecht:. +31 30 226 3219. Investor Relations: Brussels:. +32 2 565 5378. Utrecht:. +31 30 226 3220. 2. WorldReginfo - cf534ce5-df89-404b-8eac-e483aaf6bfbc. Fortis is an international financial services provider engaged in banking and insurance. We offer our personal, business and institutional customers a comprehensive package of products and services through our own channels, in collaboration with intermediaries and through other distribution partners. With a market capitalisation of EUR 44.6 billion (31/03/2007), Fortis ranks among the 20 largest financial institutions in Europe. Our sound solvency position, our presence in 50 countries and our dedicated, professional workforce of 60,000 enable us to combine global strength with local flexibility and provide our clients with optimum support. More information is available at www.fortis.com..

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