BELGIUM – Remi Vermeiren, chief executive officer at KBC Bank, and KBC Bank and Insurance Co., is to retire. Willy Duron will replace him as CEO of KBC Bank and Insurance Holding Co., while André Bergen will take over as CEO of KBC Bank.

Vermeiren has spent 43 years with KBC, Belgium's largest financial services firm - five of which as president. He will either retire in April 2003 or at the end of June 2003 at the general meetings of shareholders.

Duron, who replaces Vermeiren as president of the executive committee of the KBC Bank and Insurance Holding Company, will retain his current position as president of the executive committee of KBC Insurance.

Bergen will takes up the position of vice president of the executive committee of KBC’s holding company, in addition to his position as president of the executive committee of KBC Bank. Bergen was formerly vice-chairman of the board of management at Belgian imaging company Agfa-Gevaert.

The appointment of Duron and Bergen have yet to be submitted to the Belgian Banking and Finance Commission and the Belgian Insurance Supervisory Authority for approval.

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