Auditor's Report
We have examined the 1992 financial statements of
FGH BANK N.V. Our examinations have been made in
accordance with generally accepted auditing standards
in the Netherlands. In our opinion these statements give
a true and fair view of the financial position of the
company as per December 31, 1992 and of its results for
1992 and also comply with the statutory requirements
concerning financial statements.
Utrecht, March 10, 1993
Moiet Ernst Young Accountants
