PRESS RELEASES

ABN Amro North America Announces Plans To Build A New High-Tech Center In Chicago; Hines To Serve As Development Manager

1/11/2001

CHICAGO, IL. - ABN AMRO North America, Inc., the North American subsidiary of Netherlands-based ABN AMRO Bank N.V., announced today preliminary plans to build ABN AMRO Plaza -- a high-technology center to be located in Chicago's West Loop. The approximately $500 million development will allow ABN AMRO North America to reduce operational costs by consolidating most of its existing Downtown facilities into a single, state-of-the-art facility and to gain the necessary business and technology efficiencies to compete in the new millennium. As a result of this development, thousands of jobs will be retained in the city of Chicago and state of Illinois.

"Building ABN AMRO Plaza will unify operations and enable us to reach our full potential as an organization," said Harrison F. Tempest, chairman and CEO, ABN AMRO North America. "By consolidating resources and focusing energies on a common goal, ABN AMRO North America will maintain and add to its current successes."

The location for the new facility will be on the block bounded by Madison, Jefferson, Washington and Clinton and will house ABN AMRO North America's administrative functions, which are currently scattered across five downtown office buildings. The company's headquarters will remain at 135 South LaSalle Street.

Construction of ABN AMRO Plaza is scheduled to begin later this year and is slated for completion in 2003. It is expected to house several thousand ABN AMRO North America employees. As the first phase of a two-phased twin-office tower complex, the project will provide a distinctive new expansion of Chicago's West Loop. The approximately 1.3 million square foot office development, currently designed to be slightly over 30 stories, will be sited on the property to maximize views from both the Phase One tower and the future Phase Two tower, currently planned for 1.2 million square feet. The dynamic geometry and building orientation will create a distinct presence and offer public amenities at street level, including a generously landscaped public entry plaza along Madison Street. The infrastructure will provide for a state-of-the-art telecommunications and technology facility. The new facility will also incorporate interior planning features that promote maximum flexibility and technological adaptability.

"ABN AMRO North America and LaSalle Bank need additional high-tech space to support technology, " said Norman R. Bobins, chairman, president, and CEO, LaSalle Bank. "With the enormous growth of e-commerce and its impact on banking, we must ensure that our facilities can support the technology needed to provide outstanding levels of service to our customers."

ABN AMRO North America is currently working with both the city of Chicago and the state of Illinois to evaluate and potentially develop assistance programs for the proposed development. With the State of Illinois' Department of Commerce and Community Affairs (DCCA), the company is exploring assistance through such programs as the Economic Development for a Growing Economy (EDGE) and is seeking a possible High Impact Business (HIB) designation. In addition, ABN AMRO North America is exploring with the city of Chicago similar programs that would assist the company in maintaining its large technology base here. Without these assistance programs, the proposed development would not be economically feasible for ABN AMRO North America.

"This proposed project is another testament to Chicago's growing reputation as the best city in the world to do business," said Mayor Richard M. Daley. "We are pleased that ABN AMRO has chosen to remain in Chicago with a project that will add tremendous value to the dynamic West Loop area and our local community."

"This new building represents a tremendous investment in the people of Chicago and the state of Illinois," says Illinois Governor George H. Ryan. "To have a leading financial institution like ABN AMRO make this kind of long-term commitment in Chicago is a testament to the workers, infrastructure and business environment that currently exist in Illinois."

"I'm proud and honored to have this building in our Ward," added 27th Ward Alderman Walter Burnett, Jr. "Not only will it bring job opportunities with ABN AMRO, but it will also generate more jobs for our community through the enhancement of other businesses in the area."

Hines, a leading developer of technology-intensive facilities worldwide, has been engaged as the program manager for the ABN AMRO Plaza project. Hines will provide advice and guidance to the development team on all aspects of the development during pre-development, construction and commissioning. DeStefano and Partners, one of the largest architectural practices in Chicago, has been engaged as the design architect for the project.

ABN AMRO North America has established participation goals for minority and women-owned businesses, which based on the magnitude of the project, will offer significant opportunities. These goals are consistent with the company's commitment to strengthen the communities in which it serves.

Netherlands-based ABN AMRO Bank N.V. is one of the world's largest banks with total assets of $511 billion and more than 3,500 locations in over 70 countries and territories. In North America, ABN AMRO is headquartered in Chicago and has $171 billion in assets and more than 18,000 employees with wholesale banking offices in 13 cities in the U.S., Canada and Mexico. Major North American subsidiaries include ABN AMRO Incorporated, an investment banking, advisory and brokerage firm; ABN AMRO Asset Management (USA) LLC; LaSalle Bank in Chicago; Standard Federal Bank in Michigan and EAB in New York.