ING Selected by State of Minnesota to Provide Retirement Services

ING Institutional Plan Services Group is pleased to announce that it has been selected by the State of Minnesota to be the administrator for its 457 deferred compensation plan. ING also will provide administration for the State Health Care Savings Plan, the Unclassified Employees Retirement Plan and the Hennepin County Supplemental Retirement Plan.

ING will provide complete administration for all four plans, which have about 140,000 participants and $3.9 billion in assets. Services will also include self-directed brokerage, online investment advice and managed account services to participants in the 457 plan.

The selection by Minnesota points to ING's continued leadership in the large government sector. ING is a retirement plan provider to nearly half the states in the nation, and also serves approximately 4,000 municipal and county governments.

"We are pleased to have the opportunity to build on the momentum we have gained in this market, by partnering with yet another large state with a long history of dedicated service to its employees," said Sandy McCarthy, President of ING Institutional Plan Services. "We look forward to working with the State of Minnesota and its plan participants, and offering them the highest level of personalized service and technology to assist in their retirement planning," she added.

ING's US Wealth Management business has a leadership position in a wide range of businesses, including defined contribution retirement plans, defined benefit pension plans, retirement income solutions, managed accounts, retirement plan rollovers, stable value programs, as well as a health and welfare operation. It ranks as the largest defined contribution business in the US based on number of plans, the second largest based on number of plan participants, and the third largest based on combined assets under management and administration, with more than US $300 billion.(1)

  (1) 2008 PLAN SPONSOR record keepers survey data


  About ING:

ING is a global financial institution of Dutch origin offering banking, investments, life insurance and retirement services to over 85 million residential, corporate and institutional clients in more than 50 countries. With a diverse workforce of about 130,000 people, ING comprises a broad spectrum of prominent companies that increasingly serve their clients under the ING brand.

In the U.S., the ING (NYSE: ING) family of companies offer a comprehensive array of financial services to retail and institutional clients, which includes life insurance, retirement plans, mutual funds, managed accounts, alternative investments, direct banking, institutional investment management, annuities, employee benefits, financial planning, and reinsurance. ING holds top-tier rankings in key U.S. markets and serves over 14 million customers across the nation. For more information, visit www.ing.com.

Recordkeeping and Plan Administrative Services provided by ING Institutional Plan Services, LLC. Advisory Services provided by ING Investment Advisors, LLC.

C08-1027-006 (11/2008)

First Call Analyst:
FCMN Contact: debroah.pont@us.ing.com

SOURCE: ING

CONTACT: Deborah Pont, ING US Wealth Management, +1-860-580-2678, or
deborah.pont@us.ing.com

Web site: http://www.ing.com/