about ING

ING NORTHEAST ASIA BANK

Adress: Potonggan Hotel room 418. Ansandong, Pyongchon Kuyok, PYONGYANG, Democratic People's Republic of Korea

Telephone: 850-2-381-4573 (Intl.) 421-4808 (Local)

Fax: 850-2-381-4703

Established: December 1995

Ownership: ING Bank N.V. Amsterdam (70%) Korea Foreign Insurance Company (30%)

Capital: USD 2,000,000 (fully paid-up)

Staff: 4 DPRK nationals and 1 expatriate General Manager

Main Activities: Foreign barter and countertrade transactions
                              Handling tolling transactions
                              Foreign debt management advisory
                              Arranging debt-for-equity conversions
                              Lending to foreign corporate investors
                              Financial advisory & financial due diligence services for foreign investors
                              Business introductions

Management: Keith Chiddy, General Manager
Pak Yong Ae, Assistant Manager

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