ACE bank reveals its true colours. Today, the mystery surrounding *CE bank was finally clarified. Following days of speculation on discussion fora and in the press, *CE bank has placed its cards on the table. *CE bank, the bank that has been boasting about its uncompromising investment policies and transparency, will not leave the public in the dark any longer. It is time for clarity.

ACE bank is reality. The bank has been proud to declare its investments in companies that are involved in human rights abuses, arms production, and environmental destruction. Yet the investment policy of *CE bank does not differ much from other banks on the Belgian market. The companies that feature in the portfolio of *CE bank, are in reality financed by financial institutions that operate on the Belgian market. Research by Netwerk Vlaanderen has shown that AXA, Dexia, Fortis, ING and KBC invest a combined total of $8 billion in companies that are involved in serious human rights abuses.

ACE bank is fiction.The transparency that *CE bank offers stands in stark contrast to the reality ofthe banking world. After many years of campaigns for more honesty and transparency regarding investment, most banks still refuse to inform their clients about the companies or projects in which they invest.

ACE bank dares. *CE bank opened a promotion office on the Muntplein in Brussels on 11th October. A group of professional actors with a sense of the absurd, played the role of bank staff who enthusiastically promoted their "investment products" in controversial companies. Members of the public were asked how receptive they were to this new player on the Belgian market. This risky artistic intervention provoked many reactions. Visitors were often shocked by the investments that they were offered, especially when they learnt that their own bank invested in these companies.

ACE bank and its customers. Netwerk Vlaanderen uses this performance to show that the money which is given to banks does not simply sit in a safe. Many savers and investors find that the investments made with the money that they entrust to banks are unacceptable. The visitors, who left the bank with a feeling "that there is something not quite right", were later informed of the real purpose of the performance, and will receive information about sustainable banking products. By choosing this kind of saving and investment product, they can avoid their money going to controversial practices or products.

ACE bank and its competitors. Staff at competing banks also do not believe that investments in companies that abuse human rights, or produce controversial weapons, should be allowed. More often than not, however, they run into the 'laissez-faire' approach of the management of their own institution. The theory goes that banks should not take too much account of ethics, but only focus on the profit that can be made on investments. *CE bank has used a humorous approach to illustrate where such a cynical attitude can lead.

ACE bank: a breath of fresh air for Netwerk Vlaanderen. Although the campaigners who work for Netwerk Vlaanderen often meet with decent and honest people within the financial sector, they also come across cynical figures. Over time, they came to the conclusion that it would be nice to exchange roles. The idea starts from one simple premise: investment freedom. *CE bank is therefore not a simple reflection of the banking world, but rather the exploration of one idea that still determines many investment choices.

Watch the documentary of ACE bank

View photos ACE bank

Go to the ACE bank website

Netwerk Vlaanderen, Vooruitgangstraat 333/9, 1030 Brussels, tel 02/ 201 07 70,
info@netwerk-vlaanderen.be.

City of Brussels, Alderman Bruno De Lille, Grote Markt, 1000 Brussels, tel 02/279 44 16.
www.brucity.be.