We have examined the financial statements of the
FGH BANK N.V. for the year 1991. Our exami
nations have been made in accordance with generally
accepted auditing standards.
In our opinion, the financial statements comply with
the prescribed legal requirements and fairly present
both the company's financial position at December
31, 1991, and the results for the year then ended.
HILVERSUM, MARCH 11, 1992
moret ERNST YOUNG registeraccountants