ING Investment launched global realty fund

* NFO opens on November 20 and closes on December 14

Mumbai, November 19th, 2007: ING Investment Management India announces the launch of the ING Global Real Estate Fund, an open ended Fund of Funds (FoF) scheme for the Indian investors. The scheme opens on November 20, 2007 and closes on December 14, 2007. The earliest closure date is December 7, 2007.

The scheme will primarily invest in the Cayman Islands registered ING Global Real Estate Securities fund that seeks to provide investors with diversified returns consisting of income and capital appreciation over time. This will be India's first open ended real estate fund and the first fund to offer Indian investors access to global property markets.

On this opportunity, Vineet K. Vohra, Managing Director and CEO, ING Investment Management India, said, "We are excited about introducing India's first Global Real Estate Fund. This fund opens up a new asset class for Indian investors. It aims to offer an investor returns that are better than a fixed income product but with lower volatility than an equity fund. It is the right time to bring such a product to India, as in today's volatile markets it potentially helps lower an investor's portfolio risk due to its low correlation with Indian equity and bond markets. This product diversifies across 21 countries and invests in commercial properties such as offices, shopping malls, healthcare facilities, hotels, apartments etc. As on date, the fund does not have any exposure to the US sub-prime housing sector. "

ING Global Real Estate fund will act as a feeder fund for the Cayman registered real estate fund which is sub-advised by ING Clarion Real Estate Securities, a part of ING Real Estate. ING Real Estate is the largest real estate investment manager in the world with almost $145 billion in real estate assets under management.

ING Clarion the sub-advisor of this fund manages many real estate strategies, one of them being the ING Global Real Estate fund. This was recently awarded a 5 star rating from Morningstar out of 231 funds, based on its above-average performance and below"�average risk for the five year period ending 30/11/06. It has been also ranked in the top quartile for 3 year, 5 year and overall performance as of 30/11/06. The fund has a large allocation to Asia-Pacific, followed by North America & Europe. In selecting investments for the fund, the investment manager seeks out companies that derive at least 50% of their total revenues or earnings from owning, operating, developing and/or managing real estate. The fund will not invest directly in properties but in real estate investment trusts (REITs) and real estate operating companies (REOCs).

The minimum application amount to invest in ING's global real estate fund is Rs 5,000 and in multiples of Re 1 thereafter. The minimum additional purchases are of Rs 1,000, in multiples of Re 1 thereafter. The units will be available for Rs 10 per unit during the NFO and at applicable NAV thereafter. The NFO opens on November 20, 2007 and closes on December 14, 2007. Investors will have the choice of three options: Dividend option, Growth option and Bonus option. The Scheme may, at the discretion of the Investment Manager, also invest in the units of other similar overseas mutual fund schemes, which may constitute a significant part of its corpus and for liquidity requirement invest in money market securities.

This scheme will invest overseas via the SEBI guidelines which allow investments by the mutual fund industry to the extent of $ 5 billion.

"As Asia's 2nd largest & the world's 13th largest asset manager, ING Investment Management has a strong commitment towards India. We are looking at building a leading investment management franchise here by bringing in our global knowledge & expertise." concluded Mr. Vohra.

About ING Investment Management

ING Investment Management believes in providing investors with the knowledge & opportunity to manage their future easily. ING Investment Management was established in India by ING Groep "� the world's 13th LARGEST global corporation (Source: Fortune Global 500, July, 2007). Headquartered in Amsterdam, Netherlands, ING Group is present in over 50 countries across the world, with more than 120,000 employees and total assets exceeding Euro 1,159 billion (Source: www.ing.com). ING Investment Management brings with it the vast international experience and professional expertise of the ING Group, who are world leaders in Banking, Insurance and Asset Management. In India, ING Investment Management has presence across 34 cities, with Rs. 9,022.81 Crores of assets under management as on October 31st, 2007 (excluding AUM of fund of fund schemes) (www.amfiindia.com).

Statutory Details: ING Mutual Fund has been constituted as a Trust by the ING Group, and the Board of Trustees has appointed ING Investment Management (India) Private Limited as the Investment Manager to the Mutual Fund.

Risk Factors: Mutual Funds and securities investment are subject to the market risks and there is no assurance or guarantee that the objective of the scheme will be achieved. As with any investment in securities, the NAV of the units issued under the scheme can go up or down depending on the factors and the forces affecting the capital markets. Past performance of the Sponsors/ Mutual Fund or their affiliates do not indicate the future performance of the Scheme. The sponsors and associates are not responsible or liable for any loss resulting from the operation of the Scheme beyond the initial contribution of Rs. 1 lakh made by them towards setting of the mutual fund. Expenses of the FoF Scheme is over and above the expenses charged by the respective underlying scheme.

Investment objective: The primary investment objective of the Scheme is to seek capital appreciation by investing predominantly in ING Global Real Estate Securities Fund. The Scheme may, at the discretion of the Investment Manager also invest in the units of other similar overseas mutual fund schemes, which may constitute a significant part of its corpus. The Scheme may also invest a certain portion of its corpus in money market securities, in order to meet liquidity requirements from time to time. However, there is no assurance that the investment objective of the Scheme will be realized. This scheme does not directly invest in real estate properties.

Asset Allocation: The scheme shall invest 65-100% in ING Global Real Estate Securities Fund, upto 35% in other overseas mutual fund units and upto 20% in Money Market Instruments including call money (as and when permitted by RBI) and reverse repo.

Terms of Issue & Load Structure: As per SEBI circular SEBI/IMD/CIR No.1/64057/06 dated April 4, 2006 open ended schemes are not permitted to charge New Fund Offer expenses to the scheme. In this Scheme, the Entry Load collected during the New Fund Offer Period shall be utilised to meet the New Fund Offer expenses and the remainder of the New Fund Offer expenses, if any, shall be borne by the AMC. During the continuous offer, the AMC calculates and publishes NAVs and offers sale and repurchase of units of the Scheme on all Business Days. Load structure for applications received during NFO and on-going sales: < Rs.1 crore - Entry Load: 2.5%, CDSC*: 1%. Rs.1 crore and > but < Rs. 5 crore - Entry Load: Nil, CDSC*: 0.5%. Rs.5 crore and >:- Entry Load: Nil, CDSC*: Nil. Systematic Investment Plans (SIP) is available during New Fund Offer period as well as on going sales. The load structure for SIP would be the same as mentioned above. Each installment will be considered as a single application. The load charged by the underlying scheme (entry load/exit load) may impact the returns to the investors. The load structure of the underlying scheme may change from time to time. The AMC / Mutual Fund reserves the right to change the above load structure at its own discretion with prospective effect within the limits prescribed and as per the SEBI Regulations. A copy of the Offer Documents / Key Information Memorandum along with the application form can be obtained from the ISCs. Contact Toll free no. 1800 220042. Please read the Offer Document carefully for schemes- specific risk factors before investing.

* CDSC applicable if redeemed within 180 days from the date of investments (date of allotment if invested during the NFO).

A copy of the Offer Documents / Key Information Memorandum along with the application form can be obtained from the ISCs. Contact Call free no 1800 220042 Please read the Offer Document carefully for schemes- specific risk factors before investing.