Remuneration policy

The remuneration of the Fortis Board members is determined by the Board of Directors in compliance with the prerogatives of the General Meetings of Shareholders.

Detailed proposals for remuneration of non-executive Board members are formulated by the Nomination & Remuneration Committee, based upon advice from outside experts.

For the non-executive Board members, the levels and structure of remuneration are determined in view of their general and specific responsibilities and general international market practice. The remuneration of non-executive Board members includes both regular basic remuneration for Board membership and Board committee meeting attendance fees. The non-executive board members do not receive annual incentive awards or stock options and are not entitled to pension rights. Non-executive Board members are not entitled to any termination indemnity.

The remuneration of the Executive Board members, the CEO and the Deputy CEO, are related exclusively to their positions as CEO and Deputy CEO and are therefore determined in line with the Remuneration Policy for Executive Managers (see note 11.2).

Remuneration data 2007

Total remuneration of non-executive Board members amounted to EUR 2.0 million in the 2007 financial year (2006: EUR 1.8 million; 2005: EUR 1.7 million). This includes both basic remuneration for Board membership and attendance fees for Board committee meetings. The remuneration of the CEO and the Deputy CEO, who are also Board members, is explained below under ‘Remuneration of Fortis Executive Managers’.

The table below details the remuneration paid in 2007 and shareholdings of each Board member.

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		Total
		remuneration		Fortis shares
		in 2007		held at
	Function	(thousands of EUR)		31 December 2007
1) Jean-Paul Votron and Herman Verwilst are not remunerated as Board members but as CEO and as Deputy CEO (see page 122 for details of their remuneration). 2) Board member since 23 May 2007. 3) Board member until 23 May 2007. 4) Deputy Chairman since 20 September 2007. 5) As from 1 January 2008, the remuneration of Count Lippens has been adjusted to 700 000 EUR. Count Lippens as at 1 January 2007 held 55,900 Fortis stock options pursuant to his former executive position at Fortis of which 15.300 were exercised in 2007. 6) Total remuneration is paid to a non-Fortis company, where the Board member holds a position.
Count Maurice Lippens	Chairman	400	5)	920,000
Jan Slechte	Deputy Chairman 3)	61
Jan-Michiel Hessels	Deputy Chairman 4)	164
Jean-Paul Votron	CEO 1)	-
Herman Verwilst	Deputy CEO 1) 2)	-		25,816
Baron Philippe Bodson	Board member	134		96,300
Richard Delbridge	Board member	130
Clara Furse	Board member	139		8,417
Reiner Hagemann	Board member	130		6,164
Jacques Manardo	Board member	130
Aloïs Michielsen	Board member	139	6)	16,668
Ronald Sandler	Board member	130
Rana Talwar	Board member	133
Baron Piet van Waeyenberge	Board member	142	6)
Klaas Westdijk	Board member	135