AEX corporate actions policy on public bids

In the past month Amsterdam Exchanges has had to adjust the terms of listed derivatives (options, etc.) a number of times in connection with public bids for listed companies. Amsterdam Exchanges and the Securities Board of the Netherlands (Stichting Toezicht Effectenverkeer) expect that this will also be the case in the future. To protect investors and ensure a fair and orderly market, it is important that there is clarity regarding the policy Amsterdam Exchanges will follow in the future. The Securities Board of the Netherlands has therefore asked Amsterdam Exchanges to present a policy paper on this matter. Amsterdam Exchanges has started work on this and will enter into consultations with the Securities Board of the Netherlands by the deadline of 1 November 1999.