SNS REAAL statement on Lehman Brothers exposure

SNS REAAL reports its exposure to Lehman Brothers shares and debt is negligible.

Lehman Brothers has acted as counterparty to SNS REAAL in several derivatives transactions. Sufficient collateral is deemed available to unwind and replace these transactions without a material impact on SNS REAAL's earnings or capital position. The derivatives transactions include an interest rate swaption, as reported in SNS REAAL's 2008 interim report.
In the first half of 2008, Lehman Re Ltd has acted as counterparty to SNS REAAL in a Quota Share Reinsurance Transaction. Also this transaction is backed by collateral. At this stage it is unclear if Lehman Re Ltd is part of the companies that have filed for bankruptcy. SNS REAAL is actively monitoring the situation.
The solvency- and liquidity position of SNS REAAL remains strong.