Auditor's Report
Introduction
We have audited the 1995 financial statements of
FGH BANK N.V., Utrecht. These financial
statements are the responsibility of the Bank's
management. Our responsibility is to express an
opinion on these financial statements based on our
audit.
Scope
We conducted our audit in accordance with auditing
standards generally accepted in the Netherlands.
Those standards require that we plan and perform the
audit to obtain reasonable assurance about whether
the financial statements are free of material
misstatement. An audit includes examining, on a test
basis, evidence supporting the amounts and
disclosures in the financial statements. An audit also
includes assessing the accounting principles used and
significant estimates made by management, as well
as evaluating the overall financial statement
presentation. We believe that our audit provides a
reasonable basis for our opinion.
Opinion
In our opinion, the financial statements give a true
and fair view of the financial position of
FGH BANK N.V. as per 31 December 1995 and of the
result for the year then ended in accordance with
accounting principles generally accepted in the
Netherlands and comply with the financial reporting
requirements included in Part 9, Book 2 of the Dutch
Civil Code.
Utrecht, March 1, 1996
Motet Ernst Young Accountants