ABN CEO: Fortis Paid Too Much For ABN Amro - Newspaper

AMSTERDAM (Dow Jones)-- Fortis NV (FORSY) paid too much for ABN Amro NV (ABN),Dutch daily Het Financieele Dagblad reports Friday, citing ABN Amro ChiefExecutive Rijkman Groenink.

The ABN CEO was speaking on the sidelines of a Dutch court hearing on hisalleged mismanagement in the takeover battle regarding the Dutch bank, the paperreports.

Groenink said Fortis' shareholders should vote against the bank's plan toacquire ABN Amro , as part of the consortium that also includes Royal Bank ofScotland Group PLC (RBS) and Banco Santander Central Hispano (STD). "If (Fortis') plan succeeds, this will lead to further pressure on the share price ofFortis," the paper quotes Groenink as saying.

Fortis shareholders will Monday vote on the company's plan to issue a maximumof EUR13 billion of shares to finance the acquisition of ABN Amro's businessunits in the Netherlands and its private banking and asset management operationsfor a total of EUR24 billion.

Newspaper Web site: http://www.fd.nl

-By Amsterdam Bureau, Dow Jones Newswires; 31-20-626-0770

Fortis NV (FORSY) has agreed to pay over the odds for ABN Amro NV (ABN), Dutchdaily Het Financieele Dagblad reports Friday, citing ABN Amro Chief ExecutiveRijkman Groenink.

("ABN CEO: Fortis Paid Too Much For ABN Amro - Newspaper", timed at 0635 GMT,misstated that Fortis had already bought ABN Amro .)

(END) Dow Jones Newswires 08-03-07 0235ET Copyright (c) 2007 Dow Jones & Company, Inc.