BRUSSELS, Belgium, Nov. 18, 2004 (PRIMEZONE) -- In keeping with its strategy of growing into a leading player in the European leasing market, Fortis today announced its decision to re-group its leasing activities into a single new company, Fortis Lease Group. Based in Luxembourg, Fortis Lease Group will be responsible for the strategy, co-ordination and follow-up of all of Fortis's leasing activities.By increasing the visibility and cohesion of Fortis's leasing businesses, the creation of Fortis Lease Group should speed up development into a leading European leasing operator.
Fortis's leasing operations will be transferred to Fortis Lease Group through a series of intra-company deals which, because of their exclusively internal nature, should have no material effect on Fortis's overall results.
Fortis Lease
Fortis Lease is a financial leasing company specialising in leasing products such as private cars, company cars, machinery, forklift trucks, IT equipment and real estate. Fortis Lease currently operates in Belgium, the Netherlands, Luxembourg, France, Spain, Portugal, the United Kingdom, Germany, Italy and Poland. With leasing assets of EUR6bn, Fortis Lease ranks twelfth among European leasing companies. Through its product expertise, knowledge of the international leasing market and international presence, Fortis Lease is able to meet the growing demand of its customers for European solutions. Fortis Lease Group, Fortis's new, integrated leasing company, will be incorporated in Luxembourg as a wholly-owned subsidiary of Banque Generale du Luxembourg.
Fortis
Fortis is an integrated financial services provider active in the fields of insurance and banking. With a market capitalisation of EUR 25.8 billion (31/10/2004) and over 52,000 employees, Fortis ranks in the top 20 of European financial institutions. In its home market, the Benelux countries, Fortis occupies a leading position and offers a broad range of financial services to individuals, companies and the public sector. Fortis is drawing on the expertise it has acquired in its home market to realise its European ambitions via growth platforms. Fortis also operates successfully worldwide in selected activities. In specific countries in Europe and Asia it effectively exploits its know-how and experience in bancassurance. Fortis is listed on the exchanges of Amsterdam, Brussels and Luxembourg and has a sponsored ADR programme in the United States. For more information, visit www.fortis.com
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