Dit prospectus is gemaakt voor de uitgifte van dit product en ... - Iex

CAPITALISATION OF RABOBANK GROUPThe following table sets forth in summary form Rabobank Group’s consolidated own funds and consolidatedmedium-term and long-term debt securities at 31 December 2008 and at 31 December 2007:At 31 December20082007(restated) 2007(in millions of euro)Equity of Rabobank Nederland and local RabobanksRetained earnings and other reserves .................................... 20,074 19,684 19,650Rabobank Member Certificates issued by a group company. 6,236 6,233 6,233Capital Securities and Trust Preferred Securities IIIto VI....................................................................................... 3,510 2,779 2,779Minority interests................................................................... 3,639 2,713 2,713Total equity .......................................................................... 33,459 31,409 31,375Subordinated debt ................................................................. 2,159 2,294 2,294Debt securities in issue (1) ....................................................... 135,779 141,812 141,812Total capitalisation .............................................................. 171,397 (2) 175,515 175,481Breakdown of reserves and retained earningsRevaluation reserves for available-for-sale financial assets .. (898) 489 489Other reserves ....................................................................... (332) 38 38Retained earnings ................................................................. 21,304 19,157 19,123Total reserves and retained earnings ................................. 20,074 19,684 19,650Notes:(1) Debt securities in issue includes short-term debt and long-term debt. At 31 December 2008 and at 31 December2007, Rabobank Group had short-term debt amounting to € 55,385 million and € 58,440 million respectively. At 31December 2008 and at 31 December 2007, Rabobank Group had long-term debt amounting to € 80,394 million and€ 83,372 million respectively.(2) The total capitalisation of Rabobank Group at 31 December 2008 would have been approximately € 172,475 millionas adjusted for the new issue of U.S.$ 1,500,000,000 of Additional New Capital Securities and an assumed issue ofU.S.$ 1,368,297,000 of New Capital Securities in connection with the Exchange Offers, based on an assumed tenderof U.S.$ 1,013,623,000 of TPS II and U.S.$ 743,275,000 of TPS III.There has been no material change in the capitalisation of Rabobank Group since 31 December 2008.312