Statement by Darren Carter, CEO of KBC Financial Products in response to New York Times article of July 1, 2009

NEW YORK--(Business Wire)--
"At the time we executed our transactions, KBC Financial Products was acting
responsibly and prudently. Unlike a number of other institutions, KBC FP
purchased insurance protection to cover its above-AAA-rated financial exposures,
principally from MBIA Inc., a company rated AAA at that time, well before the
then-impending current financial crisis became apparent. All these business
decisions made by KBC FP were pre-approved and vetted by the market and credit
risk committees of the parent company, KBC Group, at its headquarters in
Brussels."

"When we executed these trades, we thought we were making the right decisions
under the facts and circumstances as we understood them, although no one can be
pleased with the results. Moreover, no employees at KBC FP received any bonuses
for 2008, and the top senior executives already know they will not receive any
for 2009."

For KBC Financial Products:
Josh Galper
Cell: 202-744-4047
Work: 202-339-8468
jgalper@orrick.com

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