RABOBANK GROUP SEES PROFIT INCREASE IN CHALLENGING TIMES

Rabobank manages to meet its targets in first half of 2008

• Net profit up 12% to record level of EUR 1,525 million
• Tier 1 ratio at 11.2%
• Return on equity at 10.7%
• Equity up to EUR 32 billion despite limited revaluations
• Income up 7%, operating expenses down 1%, efficiency ratio at 63.1%
• Negative impact of credit crisis on net profit is EUR 529 million, partially offset by higher interest results
• Exceptional income thanks to sale of Alex and consolidation of BGZ
• Good first half year performance delivered by local Rabobanks
• Private sector lending up 6% to EUR 378 billion
• Amounts due to customers up 4% to EUR 260 billion