Tragedy

Amsterdam, 18 May 2006

ABN AMRO expresses deep regret over tragic accident in Volvo Ocean Race

With deep regret ABN AMRO confirms that Hans Horrevoets, crew member of ABN AMRO TWO, was killed in an accident as the boat made its way to Portsmouth. Hans was swept overboard early this morning, as his boat battled its way through five metre seas and 30 knot winds. The boat was about 2,000 kilometres from land. His fellow crew members immediately turned around and began to search for him, meanwhile raising the alarm on shore. In the most difficult of conditions, they succeeded in finding Hans. He was lifted back on board, and attempts were made to resuscitate him – but these were not successful.

Rijkman Groenink, Chairman of the Managing Board of ABN AMRO, said: "We are all devastated by this terrible accident. Over the past year and a half, from preparation to where we are now, the crew members of TEAM ABN AMRO have become an integral part of the ABN AMRO family. We shared in the excitement leading up to the race and celebrated our achievements since the race began. Now, in this tragic moment, our thoughts are with Hans' family, and also with his fellow crew members."

The crew is no longer in racing mode and is making its way to land as quickly as possible. A decision on further participation of ABN AMRO TWO in the race will be made during the Portsmouth stopover.