Report of the Managing Board FGH VASTGOEDPRIJS FGH Bank introduced the FGH Vastgoedprijs [FGH Real Estate Award] in 1989 as a biennial award to recognize outstanding achievement in the real estate market. The original concept behind this prize was to highlight business achievement in the commercial real estate market in the Netherlands. And 2002 also gave plenty of scope for such business achievement, not only because it was a challenge to develop and build in the year under review, but also because the development and construction of individual buildings has increasingly been superseded by the development of whole areas based upon, or as part of, an overall urban plan. This trend is making the market in which we operate even more open and, therefore, all the more challenging. On 4 November 2002, the FGH Vastgoedprijs was awarded for the seventh time during a ceremony at the Beatrix Theatre in Utrecht. The jury unanimously voted Amstelland Ontwikkeling Vastgoed BV the winner of the FGH Vastgoedprijs 2002 for its development of Forum, an office building in Amsterdam. The jury considered that from an architectural point of view the Forum office building was an ingenious development, which by consistently implementing a single vision adds value to its environment in both aesthetic and economic terms. As an office building, Forum creates a very open feeling, which is partly due to the creative feature of an atrium as the focal point of the building. In addition to a large amount of publicity and the award ceremony itself, which is attended by many of those who are involved in the real estate market, the prize includes a bronze sculpture by the sculptress Ella van de Ven. The panel of judges for the FGH Vastgoedprijs 2002 were: A.H. Brouwer-Korf (chairman,- Burgomaster of Utrecht), L.C. Brinkman (AVBB/Algemeen Verbond Bouwbedrijf/ Federation of Dutch Contractors' Organisations), J. Brouwer (former chairman of BNA/Bond van Nederlandse Arcliitecten/ Association of Dutch Architects), G.H. Hoefsloot (on behalf of Neprom/Nederlandse Vereniging van Projectontwikkelings maatschappij en/Dutch Association of Property Development Companies), M.S. Riaskoff (member of the board of Foruminvest B.V., winner of the FGH Vastgoedprijs 2000), Th.W. Wernink (on behalf of IVBN/Vereniging van Institutionele Beleggers in Vastgoed Nederland/Association of Institutional Property Investors in the Netherlands), C. van Zadelhoff (advisor to DTZ Zadelhoff) and P.C. Keur (member of the Managing Board of FGH Bank N.V.). STAFF COUNCIL Eight consultative meetings were held between the Staff Council and the Managing Board during the year under review. Several informal meetings were also held. Co operation between the Staff Council and the Managing Board dining these meetings was positive and constructive. The matters that were discussed in detail with the Staff Council included the bank's strategy, for example, including measures relating to improvements in efficiency and cost control, and also various proposals and schemes relating to personnel matters and the divestment of FGH Real Estate Asset Management. At the end of 2002, the members of the Staff Council were: N.V.J. Baaij (chairman), J.D. Craanen, L.M.H.A. van Eert, A. Ras, G.H. Rijnfrank, D.J.C. de Vries and N.H. van Wijk. M. Ponne, E.F. Smeets and P.J. van de Weijer stepped down from the Staff Council during the year and an interim election was therefore held at the end of February 2002. PROSPECTS The abrupt end to a period of economic growth in 2001 resulted in a sharp decline in demand for funding for commercial real estate in 2002. In our view this trend will continue in 2003, while much will depend on developments in the national and international arena. The organisation of FGH Bank N.V. is prepared for the future. Customer focus, flexibility, cost control and a balanced risk-reward policy are in that perspective key objectives. On 8 May 2002, Mr H. Copier stepped down from the Managing Board of FGH Bank at his own request and the Managing Board continued to operate thereafter with two members. We would like to thank Mr Copier for his commitment and his hard work. Finally, we would like to take this opportunity to express our gratitude and appreciation for the dedication our staff have shown in the year under review. Utrecht, 20 February 2003 The Managing Board M.M.A. Better P.C. Keur

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Jaarverslagen Friesch-Groningsche Hypotheekbank / FGH Bank | 2002 | | pagina 12