We also made significant
advances at the strategic level , in the Netherlands and
internationally.

At the international level, too, Rabobank Group is on track to become
the bank for the global food & agri sector.

Changes that are taking place include:
Two mobile operators, MTC-Vodafone and Etisalat have made significant
moves in expanding outside of Middle East markets. MTC-Vodafone acquired
pan-African mobile operator Celtel in March 2005.

opec bcie

9 to
11.6.

jointly bank

Bert Heemskerk, chairman of the Executive
Board: 'We're on track. Income was up 2% and
total expenses were fractionally lower.

reconstruction jointly

pdf

***Click the link below to view the complete press release including
tables:***

2005 annual results (http://hugin.

accelerate nadb

Interpolis was sold to
Eureko in exchange for an additional holding in the latter, taking
Rabobank's stake in Eureko from 5% to 37% and giving it a substantial
interest in the largest insurance company in the Netherlands.

invests bcie

com/cgi-bin/prnh/20040820/RESEARCH )
Middle Eastern countries are beginning to move towards less government
involvement and greater competition in their telecoms markets, often
encouraged by World Trade Organisation (WTO) membership requirements. UAE's Etisalat entered into a strategic
partnership with West African mobile operator Atlantique Telecom and acquired
a 50 % stake in the group in April 2005.

furthering breakdowns

PRESS RELEASE Rabobank Group on track: net profit up 16%

Rabobank strengthened its
equity position in 2005 with the issue of new Member Certificates.

*The figures in brackets in this press release are the figures for
the same period in 2004. Each country is represented by its own
chapter, comprehensively covering the key areas of interest including:

-- Key trends
-- Market overview
-- Regulatory environment
-- Major fixed network operators
-- Telecommunications infrastructure
-- Public data communications services
-- Internet
-- Broadband networks and services
-- Content and e-Services
-- Wireless communications
-- Broadcasting

For more information visit
http: //www.

nafta vocation

Last year saw further progress towards the achievement of Rabobank
Group's strategic objective for the Dutch market: to be the leading
financial services provider across the board.
The merging of the local Rabobanks, to create larger units which are
better equipped to serve their markets , is on schedule.pdf

***Please open the following link to view the balance sheet:***
http: //hugin.
(Logo: http://www.researchandmarkets.

reconstruction entrepreneurial

* Net profit: +16%
* Income: +2 %
* Expenses: fractionally lower
* Savings: +10%
* Private-sector lending: +12%
* Tier 1 ratio: 11.

cis finances

In Tanzania,
a consortium consisting of Rabobank and three local partners took a
49 % interest in National Microfinance Bank (NMB) under the Rabobank
Development Program.newscom.

nadb contribute

Rabobank expanded its operations in Brazil, with the opening of eight
branches to service the larger agricultural enterprises.
Broadband is becoming more prevalent and is now available in most Middle
East countries.com/reports/c18848

Laura Wood
Senior Manager
Research and Markets
press@researchandmarkets.

lending nadb

Thanks partly to the successful issue
of Member Certificates III, the Tier I ratio improved from 10. Celtel provides services to
6 million subscribers in 13 countries.

arab reconstruction

Our commercial
operations accounted for the bulk of the profit growth , to which all
business units contributed across the Group.

***Please open the following link to view the key figures:***
http://hugin.info/133178/R/1038165/168407. DUBLIN, Ireland, Research and Markets
(http://www.

contribute jointly

6

With 16% growth in net profit, Rabobank Group exceeded its long-term
target of 12% in 2005. New providers include Israel's three GSM
operators, Turkcell and two new iDEN operators in Jordan and Saudi Arabia;
This report on the "Middle East" provides information on Bahrain, Iran,
Iraq, Israel, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, Syria ,
Turkey, United Arab Emirates and Yemen.

accelerate cdb

pdf)

Copyright Hugin ASA 2006.researchandmarkets .

exporting arab

Private-sector lending was 12% higher, at EUR 278 (249)
billion, and funds entrusted increased by 5% to EUR 186.

Research and Markets: More Competition Among Telecom Market in Middle Eastern Countries

vocation arab

Despite the changeable economic climate,
Rabobank Group has exceeded its profit target. As
with previous issues of Member Certificates, demand was so high that
the issue was oversubscribed. The number of
local banks decreased in 2005 from 288 to 248.

finances intergovernmental

finances cis

com/reports/c18848) has announced the addition
of 2005 Telecoms, Mobile and Broadband in the Middle East to their offering .

bank intergovernmental

5)
billion. With the completion last
month of the acquisition of Central Coast Bancorp in California ,
announced in 2005, Rabobank has also become the owner of the
subsidiary Community Bank of Central California, which operates an
extensive branch network.com
Fax: +353 1 4100 980

cis multilateral

info/133178/R/1038173/168413.

accelerate nafta

info/133178/R/1038174/168414.

entrepreneurial finances

'

Rabobank Group posted a significant financial result in 2005, with
net profit rising to EUR 2,083 (1,793)* million.

opec intergovernmental

Recent tariff reductions will further increase penetration
rates, which although low, have shown significant rates of growth .

furthering contribute

4 (177.

Push-to-Talk takes (PTT) off -- There will be a total of seven operators
providing PTT services by mid-2005.

intergovernmental exporting