By letter dated 22 March 2011, the Kingdom of the Netherlands nominated Mr Jan Willem van den Wall Bake (Senior Advisor for Foreign Financial Relations in the Ministry of Finance) for appointment as a Full Member of the Board of Directors with effect from 1 May 2011 following the resignation from the Board of Directors as at the same date of Mr Pim van Ballekom.

By letter dated 24 March 2011, the Board of Governors was invited to vote on the proposed appointment.

The decision to nominate Mr Jan Willem van den Wall Bake was taken on 14 April 2011, the date on which the requisite majority of Governors' votes was reached.

The term of office of Mr van den Wall Bake will expire in 2013, at the end of the day of the Annual Meeting of the Board of Governors during which the annual report, balance sheet and profit and loss account for the 2012 financial year are examined.