Fortis Luxembourg Finance S.A. Fortis Bank - BNP Paribas Fortis

Guarantee of Fortis Bank
The following is substantially the text of the Guarantee that will be executed by the
Guarantor for each Note issue and that will be endorsed on the Notes.
FORTIS BANK nv-sa (the "Guarantor") unconditionally and irrevocably guarantees to the holder of this
Note (and, where relevant, the coupons appertaining hereto) the due and punctual payment, in accordance
with the Terms and Conditions of the Notes (terms defined in the Terms and Conditions shall, insofar as the
context so admits, have the same meaning when used herein), of the principal of, interest (if any) on, and any
other amounts and considerations payable under this Note upon the following terms:
(1) In the event of any failure by the Issuer to pay punctually any such principal, interest (if any) or other
amount or consideration, the Guarantor agrees to cause each and every such payment to be made as if the
Guarantor instead of the Issuer were expressed to be the primary obligor of this Note or, as the case may be,
of any coupons appertaining hereto to the intent that the holder shall receive the same amounts in respect of
principal, interest (if any) or such other amount or consideration as would have been receivable had such
payments been made by the Issuer.
(2) The Guarantor agrees that its obligations under this Guarantee shall be unconditional and irrevocable,
irrespective of the validity, regularity or enforceability of any Note or any coupon, the absence of any action
to enforce the same, the recovery of any judgement against the Issuer or any action to enforce the same or
any circumstance which might otherwise constitute a discharge or defence of a guarantor.
(3) The Guarantor confirms with respect to each Note (and coupon, if any) and the indebtedness evidenced
thereby, that it does not have and will not assert as a defence to any claim hereunder any right to require any
proceedings first against the Issuer nor will it assert as a defence to any claim hereunder any lack of
diligence, presentment to the Issuer or the Paying Agents, any demand for payment from the Issuer or the
Paying Agents, any filing of claims with any court in the event of merger, insolvency or bankruptcy of the
Issuer, any protest, notice or any other demand whatsoever (other than a demand for payment of this
Guarantee) and the Guarantor covenants that this Guarantee will not be discharged except by complete
performance of the obligations contained in each Note (and coupon, if any) and in this Guarantee.
(4) This Guarantee constitutes a direct, unconditional, irrevocable, unsubordinated and (subject to the
provisions below) unsecured obligation of the Guarantor and ranks pari passu (subject to mandatory preferred
debts under applicable laws) equally and rateably with all other present and future outstanding unsecured and
unsubordinated obligations of the Guarantor including deposits received by it in its banking business.
(5) The Guarantor agrees that it shall comply with and be bound by those provisions contained in the Terms
and Conditions of the Notes which relate to it.
(6) This Guarantee is governed by, and shall be construed in accordance with, the laws of the Kingdom of
Belgium. Claims against the Guarantor thereunder may be brought before any competent court in Belgium, to
the non-exclusive jurisdiction of all of which the Guarantor hereby submits.
In witness whereof the Guarantor has caused this Guarantee to be duly executed.
Dated as of 27 July 2005
FORTIS BANK nv-sa
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