NETHERLANDS - Rabo Participaties to acquire Luzac College

No further details are being disclosed, but it is understood that an expected, untaxed, book profit of approximately EUR 19m will be added to the results of USG People in the second quarter of 2006.

Luzac College was established in 1983 and leads the Dutch market for accelerated high-school education. InterCollege was established in 1979 and provides Dutch college-equivalent courses for management, marketing and communication functions. Luzac Holding employs approximately 110 permanent staff as well as apprxosimately 300 teaching staff in 21 branches. In 2005, the holding realised revenues of EUR 17m.

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