Wolf Haldenstein Adler Freeman & Herz LLP and Kohn, Swift, & Graf, P.C. Commence Class Action Lawsuit on Behalf of ING Groep N.V. 8.5% ING Perpetual Hybrid Capital Securities Investors

NEW YORK--(Business Wire)--
Wolf Haldenstein Adler Freeman & Herz LLP and Kohn, Swift, & Graf, P.C. today
filed a class action lawsuit in the United States District Court, Southern
District of New York, on behalf of all persons who acquired the 8.5% ING
Perpetual Hybrid Capital Securities (the "Securities") of ING Groep N.V. ("ING"
or the "Company") [NYSE:IGK] pursuant to a registration statement and June 2008
Prospectus (as defined in the Complaint, collectively, as the "Offering
Documents") issued in connection with the Company`s June 2008 offering of the
Securities (the "Offering") against ING, its senior insiders, the investment
banks that underwrote the Offering and ING`s auditor pursuant to §§11, 12(a)(2)
and 15 of the Securities Act of 1933 [15 U.S.C. §§77k, 77l(a)(2) and 77o] (the
"Class").

The case name is styled Emery v. ING Groep N.V., et al. A copy of the complaint
filed in this action is available from the Court, or can be viewed on the Wolf
Haldenstein Adler Freeman & Herz LLP and Kohn, Swift, & Graf, P.C. websites at
www.whafh.com and www.kohnswift.comrespectively.

As detailed in the Complaint, ING sold the Securities at $25 per share for
proceeds of approximately $1.7 billion. The Offering Documents incorporated
ING`s financial results for 2007 as well as quarterly reports through March
2008.

The Complaint alleges that the Offering Documents, however, omitted material
information, namely, that: (a) Defendants` assets, including loans and
mortgage-related securities, were impaired to a much larger extent than the
Company had disclosed; (b) Defendants failed to properly record losses for
impaired assets; (c) the Company`s internal controls were inadequate and
prevented the Company from properly reporting the value of its assets; and (d)
ING was not as well capitalized as represented, and, notwithstanding the
billions of dollars raised in the Offering, the Company would have to raise an
additional €10 billion by selling equity in the Company to the Dutch government
in order to prevent ING`s total collapse.

After the Offering, ING announced €2 billion in impairment charges associated
with its exposure to bad loans, mortgage-related securities and other
"pressurized" assets, causing the price of the Securities issued in the Offering
to decline.

As a direct and proximate result of the conduct engaged in by each of the
defendants in issuing materially false and misleading Offering documents,
plaintiff and the other members of the Class have sustained substantial damage
in connection with the purchase of the securities issued pursuant to or
traceable to the Offering Documents.

If you purchased the Securities during the Class Period, you may request that
the Court appoint you as lead plaintiff no later than April 6, 2009. A lead
plaintiff is a representative party that acts on behalf of other class members
in directing the litigation. In order to be appointed lead plaintiff, the Court
must determine that the class member`s claim is typical of the claims of other
class members, and that the class member will adequately represent the class.
Under certain circumstances, one or more class members may together serve as
"lead plaintiff." Your ability to share in any recovery is not, however,
affected by the decision whether or not to serve as a lead plaintiff. You may
retain Wolf Haldenstein and Kohn Swift, or other counsel of your choice, to
serve as your counsel in this action. Wolf Haldenstein and Kohn Swift have
extensive experience in the prosecution of securities class actions and
derivative litigation in state and federal trial and appellate courts across the
country.

Wolf Haldenstein has approximately 70 attorneys in various practice areas; and
offices in Chicago, New York City, San Diego, and West Palm Beach. The
reputation and expertise of this firm in shareholder and other class litigation
has been repeatedly recognized by the courts, which have appointed it to major
positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions, please contact Wolf
Haldenstein Adler Freeman & Herz LLP at 270 Madison Avenue, New York, New York
10016, by telephone at (800) 575-0735 (Gregory M. Nespole, Esq., David L. Wales,
Esq., Matthew M. Guiney, or Derek Behnke), via e-mail at classmember@whafh.com
or visit our website at www.whafh.com. All e-mail correspondence should make
reference to the IGK Securities.

Wolf Haldenstein Adler Freeman & Herz LLP
Gregory M. Nespole, Esq., David L. Wales, Esq., Matthew M. Guiney, or Derek
Behnke
800-575-0735
classmember@whafh.com
www.whafh.com

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