ASAHI TEC PRESS RELEASE Regulated Information

SECOND TRADING UPDATE FOR THE FINANCIAL YEAR ENDING 31 DECEMBER 2014

Simplification of Holding Structure progressing as announced Good underlying operating trends across the group

Brussels, 18 November 2014 - RHJ International (the "Company" or "RHJI") today issued a trading update for the quarter ended 30 September 2014.

Key highlights

 The simplification of the RHJI legal structure and elimination of KB Group from the holding structure is under way
 Total Assets under Management ("AuM") of €52.9 billion, as at 30 September 2014, underpinned by underlying growth
 The Group continues to have a strong balance sheet position with a Tier 1 ratio of 18% at 30
September 2014
 All business units are showing good underlying operational progress and we anticipate this positive trend to continue for the remainder of 2014
 Settlement of the PBGC claim: significant reduction in the contingent liabilities related to the legacy portfolio

BHF-BANK

At the end of the third quarter, overall AuM were broadly unchanged at €39.4 billion, with strong net inflows from private banking clients and positive market movements partially offset by the loss of lower margin mandates in the asset management business.
The Financial Markets division of BHF-BANK maintained positive momentum in equity - and debt capital market activities. In addition to the previously announced co-lead manager mandate on the IPO of SLM solutions, BHF-BANK acted as co-underwriter in the IPO of Chinese e- commerce giant Alibaba in September. The participation in this global high profile IPO demonstrates BHF-BANK's outstanding client network.
BHF-BANK's Corporate Banking and Private Banking divisions continued to grow their loan book with high quality counterparties across all lending segments and increased the loan portfolio to €3.2 billion.
BHF-BANK's capital remained strong with a Tier 1 capital ratio of 15% and a loan to deposit ratio of 32% in line with the group's overall strategy to maintain a strong and well capitalised balance sheet.

Kleinwort Benson Wealth Management1 ( "KB WM")

KBWM continued to show a steady improvement in underlying business performance. Total AuM across the deposit, discretionary investment and advisory investment offerings remained broadly stable compared to the half-year reported figure of £5.5 billion.
The momentum in the development of the lending business continued through the third quarter with the loan book increasing by 7% over the period to £526 million and new lending continuing to be written with good margins.
Recent volatility in interest rate markets in October has however had a negative impact on the reported fair value of the treasury investment book and the evolution of the fair value is dependent upon the movement of interest rates over the coming months.
KBWM's liquidity metrics remain strong, with a loan to deposit ratio of 27% among the lowest in the European banking sector and with no reliance on wholesale funding.
The Tier 1 ratio at the end of September was 21.3% compared to 20% as at 30 June 2014. This remains comfortably in excess of regulatory requirements.

Kleinwort Benson Investors ( "KB I")

KBI's strong growth in earnings has continued this quarter with further new business wins and wholesale inflows in North America, UK and Europe. KBI has maintained its strong positive momentum in increasing profitability as it continues to gather assets in its specialist investment strategies.
Total AuM increased to €6.4 billion as at 30 September 2014 compared to €5.4 billion on 31
December 2013. The quarter saw a decrease in AuM of €1.1 billion compared to €7.5 billion
reported on 30 June 2014. This was the result of an expected outflow of a €1.6 billion fixed-term advisory mandate with KBI's former parent company, KBC Asset Management NV. This outflow
had been anticipated according to the terms of the original agreement with KBC. The revenues
from this low margin mandate have been comfortably replaced by new asset wins of €575 million during the quarter and resulted in an increase in the operating margin from 27% for the 6 months ending 30 June 2014 to 29% for the 9 months ending 30 September 2014.
KBI global equity strategies continue to outperform their relevant MSCI benchmarks for the year- to-date and over 3 and 5 year periods. Within the environmental strategies, the flagship water and energy solutions strategies remain ahead of their benchmarks.
The company expects to continue current positive momentum in terms of asset gathering, operating margin and profitability growth for the remainder of the year and onwards into 2015.

1 Kleinwort Benson Wealth Management refers to the aggregation of Kleinwort Benson Bank Limited and

Kleinwort Benson Channel Islands Holdings Limited.

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Strategic update

The simplification of RHJI's legal structure is progressing as announced and the approval of a new name is expected to be submitted for shareholder approval at an EGM to be called early
2015. Subject to regulatory approval, the various steps towards the elimination of Kleinwort Benson Group ("KBG") from the holding structure are expected to be completed by the end of the first quarter of 2015.

Asahi Tec and US Pension Benefit Guaranty Corporation ("P B GC") settlement


On November 4, Asahi Tec, a former part of the legacy portfolio of the Company, announced that it has resolved its dispute with the US Pension Benefit Guaranty Corporation ("PBGC") who claimed approximately $200 million in connection with pension liabilities of Asahi Tec's US subsidiary that went into bankruptcy in 2009. As a result of a capped indemnity of JPY 2.4 billion or €17.4 million provided at the time of the sale of Asahi Tec, the Company will pay approximately €8.1 million as final settlement to Asahi Tec, who settled its claim for a total of USD 39.5 million. The remaining exposure from representations and warranties given in connection with the sale of the legacy industrial assets has been substantially reduced to approximately JPY 2.9 billion or €20.9 million compared to €38.3 million at 30 June 2014, and solely relates to the sale of Niles. The representations and warranties will gradually expire by June 2017, with the exception of certain general representations, which will expire in June 2019.

About RHJ International

RHJ International (Euronext: RHJI) is a limited liability company incorporated under the laws of Belgium, having its registered office at Avenue Louise 326, 1050 Brussels, Belgium. RHJ International is a financial services group with principal activities in wealth management, asset management and merchant banking.
For further information visit: www.rhji.com.

This press release contains certain forward-looking statements concerning the Company's operations, economic performance and financial condition. Such forward-looking statements are based on management's current expectations, estimates and projections and are subject to a number of assumptions and involve known and unknown risks, uncertainties and other factors which may cause t he actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The Company has no obligation to publicly update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this press release. The numbers featured in this statement are unaudited.

For further information, please contact:

Katia Levy-Thevenon Investor Relations Director RHJ International
Tel: +32 2 643 6013
E-mail:klevy@rhji.com

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