Auditor's report on the financial
information
Scope
To the Executive Board and Supervisory Board of Rabobank Nederland
Introduction
We have audited whether the consolidated balance sheet as at 31 December 2008, consolidated profit
and loss account, consolidated statement of changes in equity, business segments and consolidated
cash flow statement for the year then ended, as set out on pages 88 to 93 of this annual report
-hereafter'financial information'- of Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A. (Rabobank
Nederland), Amsterdam, has been derived consistently from the audited consolidated financial
statements 2008 of Rabobank Nederland. In our auditor's report dated 2 March 2009 we expressed an
unqualified opinion on these consolidated financial statements. The executive board is responsible for
the preparation of the financial information in accordance with the accounting policies as applied in the
consolidated financial statements 2008 of Rabobank Nederland. Our responsibility is to express an
opinion on the financial information.
We conducted our audit in accordance with Dutch law. This law requires that we plan and perform the
audit to obtain reasonable assurance that the financial information is derived consistently from the
consolidated financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for
ouraudit opinion.
Opinion
In our opinion, the financial information has been derived consistently, in all material respects, from the
consolidated financial statements.
Emphasis of matter
For a better understanding of Rabobank Group's financial position and results and the scope of our
audit, we emphasize that the financial information should be read in conjunction with the consolidated
financial statements, from which the financial information has been derived and our unqualified
auditor's report thereon dated 2 March, 2009. Our opinion is not qualified in respect of this matter.
Utrecht, 2 March 2009
Ernst Young Accountants LLP
G.H.C. de Meris
94
Rabobank Group Annual Report 2008
