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N.V. AMEV AND FORTIS REPORT YEAR END RESULTS

 N.V. AMEV AND FORTIS REPORT YEAR END RESULTS
 THE NETHERLANDS, April 15 /PRNewswire/ -- N.V. AMEV and Fortis,


a group representing the joint activities of N.V. AMEV and AG Group, including insurance and banking products and financial services, today announced results for the year ended Dec. 31, 1991.
 For 1991, N.V. AMEV reported a profit of NLG 531.1 million (US$310 million(A)), an increase of 5.8 percent, compared to NLG 501.8 million in 1990 ($293 million).
 Per share profit rose 2.5 percent to NLG 7.75 ($4.52) from NLG 7.56 -- adjusted -- ($4.41) in 1990. In 1991, the number of shares outstanding increased due to the issue of new shares in connection with N.V. Bondsspaarbank/Schiedam Vlaardingen joining VSB Groep and in the form of an optional dividend for 1990. Therefore, the percentage increase in net profit is greater than the percentage increase of profit per share.
 AMEV shareholders' equity rose by NLG 105 million ($61.30 million) to NLG 4.6 billion ($2.7 billion) from NLG 4.5 billion ($2.6 billion) at year end 1990. Shareholders' equity per share of NLG 2.50 nominal value ($1.46) declined to NLG 67.81 ($39.60) from NLG 68.41 -- adjusted -- ($40). The number of ordinary shares outstanding is 68,283,261 as compared to 65,948,863 in 1990.
 N.V. AMEV expects that the profit per AMEV share for 1992 will be at least equal to the profit per share for 1991.
 (A) -- All figures have been translated into U.S. dollars at the Dec. 31, 1991, rate of US$1 equals NGL 1.7127.
 Fortis reported a year-end profit of ECU 407.7 million (US$547 million(B), BEF 17.2 billion, NLG 943 million), an increase of 3.7 percent, as compared to ECU 393 million ($527 million, BEF 16.6 billion, NLG 909 million) for the same period in 1990. Group equity as of Dec. 31, 1991, was ECU 3.24 billion ($4.34 billion, BEF 136.2 billion, NLG 7.43 billion) compared with ECU 3.17 billion ($4.25 billion, BEF 134 billion, NLG 7.31 billion) in 1990.
 Fortis' total revenue increased 18.7 percent to ECU 7.5 billion ($10.06 billion, BEF 315 billion, NLG 17.3 billion) in 1991 against ECU 6.3 billion ($8.5 billion, BEF 267 billion, NLG 14.6 billion) for the same period a year ago.
 Fortis expects the 1992 operating result to increase on the 1991 figure. In terms of capital gains, the high level of the past two years might not be attained. Fortis' profit is expected to be slightly higher than the profit for 1991, barring unforeseen circumstances and significant fluctuations in exchange rates.
 Fortis is represented in the United States by Fortis, Inc., a company with annualized revenues of $2.5 billion and shareholders' equity in excess of $650 million. Fortis, Inc.'s parent companies are Holland-based N.V. AMEV and Belgium-based AG Group. N.V. AMEV's ADRs trade over-the-counter on the NASDAQ system.
 (B) -- All figures have been translated at the Dec. 31, 1991, rate of ECU 1 equals US$ 1.3416.
 -0- 4/15/92
 /CONTACT: Meril Joseph of Fortis, Inc., 212-323-9806; or Matthew J. Harrington of Edelman Worldwide, 212-704-8103, for Fortis/ CO: N.V. AMEV; Fortis ST: IN: FIN SU: ERN


GK-OS -- NY044 -- 8642 04/15/92 11:32 EDT
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Date:Apr 15, 1992
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