ING Canada to increase its quarterly dividend to 32 cents

    TORONTO, Feb. 23 /CNW/ - ING Canada (TSX: IIC) announced today that its
Board of Directors has decided to increase the company's quarterly dividend by
3.2%, or 1 cent to 32 cents per share on its outstanding common shares. The
dividend will be payable on March 31 to shareholders of record on March 16.
    According to ING Canada President and CEO, Charles Brindamour, "the
decision to increase our quarterly dividend reflects our objective of
returning value to shareholders. With today's announcement, we continue
increasing our dividend on a yearly basis. The increase is also a reflection
of the strength of our financial position, as well as the quality of our
operating earnings." ING Canada reported earlier that at the end of the year
2008, it had $427.5 million in excess capital, a minimum capital test ratio of
205% and no debt.

    About ING Canada

    ING Canada offers automobile, property and liability insurance to
individuals and businesses through its insurance subsidiaries. It is the
largest provider of property and casualty insurance in the country with more
than $4 billion in direct written premiums.

For further information:

For further information: Media Enquiries: Gilles Gratton, Vice President
- Corporate Communications, (416) 217-7206, Email:; Investor Enquiries: Michelle Dodokin, Vice
President - Investor Relations, (416) 344-8044, Email:

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