PARIS (Standard&Poor's) July 11, 2007--Standard&Poor's Ratings Services said today that it had assigned its 'A' rating to the proposed conditional capital exchangeable notes (CCEN) of Fortis Bank and Fortis Bank Nederland (Holding) N.V. (FBN), both rated AA-/Stable/A-1+; and Fortis SA/NV and Fortis N.V., both rated A+/Stable/A-1. The Fortis group has issued CCEN senior obligations in anticipation of the funding of its offer for ABN AMRO Bank N.V. (AA-/Watch Pos/A-1+) as part of a consortium with The Royal Bank of Scotland Group PLC (RBSG; AA-/Stable/A-1+) and Banco Santander Central Hispano, S.A. (AA/Stable/A-1+). The CCEN will undergo a mandatory exchange into mandatory convertible securities (MCS) in case of successful completion of a rights issue related to the ABN
