ING DIRECT CEO Arkadi Kuhlmann to receive American Banker's 2006 Innovator Award

As a result of ING DIRECT’s unprecedented growth and innovative direct banking concept, President and CEO Arkadi Kuhlmann will be honored by the editors of American Banker with the Innovator Award on November 30th at the Pierre Hotel in New York. ING DIRECT offers high yield savings accounts, mutual funds and mortgages to customers through the internet, phone or mail. American Banker reported that when ING DIRECT first started in 2000, many analysts were quick to deem the Internet banking business model as one without a future. With more than 4.5 million customers, ING DIRECT has proven that the direct business concept is successful. Kuhlmann has been the face behind ING DIRECT since its inception. Unlike most banks that had high overhead costs, high balance requirements and monthly fees, ING DIRECT’s business model enabled it to pass savings to customers in the form of consumer-friendly, simple products. "This award is a tribute to the energy, creativity and innovation of our employees,” Kuhlmann said. "Most financial companies are telling consumers to spend more. We’re showing Americans how to save more. Our innovation comes from finding new ways to empower everyday people to improve their lives.” ING DIRECT’s success was first noted by American Banker in a 2002 article with the headline "Can it Last?” In the years following that article, the bank saw deposits grow by 78 percent in 2003, 74 percent in 2004 and 39 percent in 2005. With close to $63 billion in assets, the bank still averages around 100,000 new customers and $1 billion in deposits each month. ING DIRECT, the nation’s largest direct bank and fourth-largest thrift, is dedicated to inspiring Americans to become a nation of savers. Since its inception in 2000, more than 4.5 million Americans have entrusted their savings with ING DIRECT, building the bank to $62 billion in assets. Backed by one of the largest financial services organizations in the world, ING GROUP (NYSE:ING), ING DIRECT offers industry leading interest rates, the most advanced innovations in web security and customer service, and a culture of consumer education and advocacy. ING DIRECT is also an FDIC Member and an Equal Housing Lender. For more information on ING DIRECT, or to learn more about the bank’s high-value products, including the Orange Savings Account and the Orange Mortgage, visit www.ingdirect.com or call 1-800-ING DIRECT.