ING Canada files a preliminary short form base shelf prospectus



    /THIS PRESS RELEASE MAY NOT BE PUBLISHED, DISTRIBUTED OR TRANSMITTED
    IN OR INTO THE UNITED STATES OR OVER UNITED STATES WIRE OR NEWS SERVICES/

    TORONTO, Oct. 16 /CNW/ - ING Canada Inc. (TSX: IIC) announced today that
it has filed a preliminary short form base shelf prospectus with securities
regulatory authorities throughout Canada. These filings would allow ING Canada
to offer over a 25-month period an aggregate of any combination of up to
$1 billion (Canadian) in debt, preferred or common share securities, subject
to a receipt being received for a final short form base shelf prospectus.
These filings replace a similar prospectus filed in September 2005.
    The nature, size and timing of any financings would be dependent upon ING
Canada's assessment of its requirements for funding and general market
conditions. At the time any securities covered by the base shelf prospectus
are offered for sale, a prospectus supplement containing specific information
regarding the terms of the securities being offered would be provided. Unless
otherwise specified in the prospectus supplement, the net proceeds from the
sale of securities would be used by ING Canada for general corporate purposes.

    This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of securities in
any jurisdiction in which such offer, solicitation or sale would be unlawful,
prior to qualification under the securities laws of any such jurisdiction.
Securities that would be issued would not be registered under the United
States Securities Act of 1933 and would not be offered, sold or delivered,
directly or indirectly, in the United States of America, its territories, its
possessions and other areas subject to its jurisdiction or to, or for the
account or benefit of, a U.S. person (as defined in Regulation S under the
U.S. Securities Act of 1933) except in certain transactions exempt from the
requirements of the U.S. Securities Act of 1933.

    ING Canada is the largest provider of property and casualty insurance in
the country, offering automobile, property and liability insurance to
individuals and businesses through its insurance subsidiaries.





For further information:

For further information: Media inquiries: Gilles Gratton - Vice
President, Corporate Communications, (416) 217-7206,
gilles.gratton@ingcanada.com; Investor inquiries: Michelle Dodokin - Vice
President, Investor Relations, (416) 344-8044, michelle.dodokin@ingcanada.com


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