ABN AMRO has received all required approvals from the regulators for the legal merger between ABN AMRO Bank and ABN AMRO Group. The merger deed will be passed on 28 June. This brings the legal merger into effect on 29 June. ABN AMRO Bank becomes the acquiring legal entity and ABN AMRO Group ceases to exist. As a result, all shares in ABN AMRO Group become shares in ABN AMRO Bank and each certificate will represent one share in ABN AMRO Bank. The certificates keep their listing on Euronext Amsterdam. The legal merger has no consequences for holders of debt securities issued by ABN AMRO Bank. The merger will have a positive impact on various capital ratios. On a pro forma basis, the capital ratios (at the end of the first quarter) improve as follows: the Tier 1 capital ratio improves to 19.8 percent (from 18.9 percent), the total capital ratio to 25.8 percent (from 21.7 percent) and the leverage ratio to 4.3 percent (from 4.1 percent). With the legal merger, the MDA shortfall (Maximum Distributable Amount) disappears and the administrative processes are simplified. Furthermore, the merger has no material consequences.