Quadriga Hedge Fund

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					                  SUPERFUND
                  NOTE




HEDGE FUND RETURNS WITH CAPITAL GUARANTEE
SUPERFUND NOTE
HEDGE FUND RETURNS WITH A CAPITAL GUARANTEE


SECURITY AND RETURN
                                                                          THE BENEFITS FOR YOU
By investing in the Superfund Note, you are investing in a
hedge fund strategy, with a guarantee that you will get all or
90% of your initial investment back at the end of the maturity
period. You can choose between two alternatives:                       4 ATTRACTIVE POTENTIAL RETURNS
1. Superfund 100% Guaranteed Note.
The maturity period of the Guaranteed Note is 7 years. At the          4 CHOOSE BETWEEN 90% OR 100%
end of this period you are guaranteed to get 100% of your initial
                                                                         PROTECTION OF YOUR CAPITAL
investment back.
2. Superfund 90% Protected Note.
                                                                       4 5 OR 7 YEAR MATURITY PERIOD
For the Protected Note, the maturity is 5 years and a
guarantee of 90% of your initial investment.
                                                                       4 CAPITAL GUARANTEE FROM
                                                                         ING BANK
FOR WHOM ARE THE NOTES SUITABLE?
If you wish to profit from managed futures as a hedge
                                                                       4 THE OPPORTUNITY TO MAKE A
fund strategy, with limited risk, the Superfund Note is the
right choice for you. The Superfund Note consists of two
                                                                         PROFIT ON BOTH RISING AND
components: a guarantee component, i.e. protection of all
                                                                         FALLING MARKETS
or part of your investment by ING Bank, and a trading
component, the investment in a Superfund managed futures               4 DIVERSIFY YOUR
fund.                                                                    INVESTMENT PORTFOLIO

GUARANTEE COMPONENT PROVIDED BY ING BANK                               4 MINIMUM INVESTMENT € 1.000,-
ING Bank invests part of your deposit in a bond, giving you
certainty when it comes to repayment. This ensures you get             4 EASILY OBTAINABLE THROUGH
your initial investment back in full at the end of the maturity          YOUR OWN BANK
date of the Guaranteed Note. With the Protected Note you are
guaranteed a maximum risk of 10%. ING Group is a
Dutch financial institution providing banking, insurance and
asset management products and services. With 115,000
employees and offices in more than 50 countries, ING Group
is one of the world’s largest financial institutions.

TRADING COMPONENT PROVIDED BY SUPERFUND
Superfund is a global group of investment companies whose
members are specialized in advising and offering managed
futures funds to both retail and institutional investors. Superfund
follows the absolute return approach aiming to secure
maximum above-average returns every year regardless of
markets’ condition. The international success of the Superfund
trading strategy has led to an on going global expansion with
offices being opened around the globe. More than 50.000
private and professional investors have so far added Superfund
funds to their portfolio. Superfund’s strategy, combined with
the capital protection from ING Bank, offers you an excellent
opportunity to achieve attractive returns with limited risk.


*The value of your investment may fluctuate. Past performance is not indicative of future results.
                                                                                           SUBSCRIPTIONS
                                                                                                 UNTIL 23 NOVEMBER 2006


                                                                         Superfund 100% Guaranteed Note:
                                                                         Issuing institution     : ING Bank N.V. (Aa2/AA)
                                                       YIELD             Issue price             : 100%
                                                       POTENTIAL         Maturity period         : 7 years
                                                                         Guarantee component : 100%
                                                                         Trading component       : Quadriga Superfund Futures
                                                                                                   C/EUR SICAV
                                                                         Investment in Superfund : 19% (indicative)1
                                                       100% CAPITAL
DEPOSIT             7 YEAR GUARANTEE                                     Subscription deadline : until 23 november 2006
                        COMPONENT                      GUARANTEE
                                                                         Minimum investment      : € 1.000,-
                                                                         ISIN Code               : XS0270483075




                                                                         Superfund 90% Protected Note:
                                                                         Issuing institution     : ING Bank N.V. (Aa2/AA)
                                                       YIELD             Issue price             : 100%
                                                       POTENTIAL         Maturity period         : 5 years
                                                                         Guarantee component : 90%
                                                                         Trading component       : Quadriga Superfund Futures
                                                                                                   C/EUR SICAV
    DEPOSIT           5 YEAR GUARANTEE                 90% CAPITAL
                                                                         Investment in Superfund : 21% (indicative)1
                         COMPONENT
                                                       GUARANTEE         Subscription deadline : until 23 november 2006
                                                                         Minimum investment      : € 1.000,-
                                                                         ISIN Code               : XS0270483828

                                                                         1The final level of investment will be announced after the subscription
                                                                         period has ended via www.ingstructuredproducts.nl




  SAMPLE CALCULATION
                                                                         SCENARIO                                   positive negative
  The sample calculation explains how the Superfund 100%
  Guaranteed Note works. The following table shows the                   Return Quadriga Superfund
                                                                         Futures C/EUR per year                      +25%        -25%
  yields per year for positive and negative scenarios. The
  calculation is based on an interest rate of 3.75% for the              Guaranteed component
                                                                         after 7 years                              € 1.000      €1.000
  guarantee component (zero bond, no interim payments) and
  an initial investment of 1,000 Euro. The trading component is          Trading component
                                                                                                                     € 904        € 25
  estimated to be 19% of the deposit. In case a negative                 after 7 years
  scenario the yield on the trading component is for instance            Superfund 100% Guaranteed
                                                                                                                    € 1.904      € 1.025
  -25% per year. In case of a positive scenario the yield on the
                                                                         Note after 7 years
  trading component is +25% per year.                                    Average return per year                     +9,7%        +0,4%




 *The value of your investment may fluctuate. Past performance is not indicative of future results.
RETURN                                                                                     COSTS
The trading component of the Superfund Note is                                             The issue price of the Superfund Note already includes the
invested in Quadriga Superfund Futures C/EUR, the Superfund                                distribution and structuring costs. These costs are expected
strategy with the highest risk and the highest potential return.                           to total 3.75%. The Superfund Note is not listed on any stock
Quadriga Superfund Futures C/EUR uses the same invest-                                     exchange. ING Bank will ensure a liquid market once a month
ment strategy as Superfund Cayman*. Superfund Cayman*                                      so that investors can buy and sell the Note.
achieved a return between its starting date 3 May 2001 and
3 October 2006 of 310.9% (average of 29.7% per year).                                      INVESTING IN SUPERFUND NOTES
In the chart below you can see the results of Superfund                                    You can subscribe to the Superfund Notes until 23
Cayman* compared to the MSCI World Index.                                                  November 2006. The minimum deposit is € 1,000. You can
                                                                                           contact your bank, your financial advisor or your Superfund
 +350%
 +300%
                                                                                           representative to invest in the Superfund Notes. The Note’s
 +250%
                                                                                           latest prices are published via www.superfund.com and
 +200%
 +150%
                                                        Superfund Cayman*                  www.ingstructuredproducts.nl.
                                                            Strategy C
 +100%                                                    29,7% per year

 +50%


  0%

                                                                MSCI World

 -50%



may 2001     2002         2003          2004         2005         2006


*The value of your investment may fluctuate. The
return of Superfund Cayman** is an example of the
historic results of the strategy and not a prediction of the
development of Superfund Futures C/EUR.
                                                                                                                       10 Y E A R S
RISK
The return on the Notes is achieved by investing in                                         Superfund Financial (Uruguay) S.A.
Quadriga Superfund Futures C/EUR. If the performance of
this fund is negative, the redemption value of the Note may                                 Zonamerica Business & Technology Park, Ruta 8,
only be equal to the guaranteed value. The Notes do not                                     Km 17500 CP 91600, Edificio Beta 3 Local 22, Montevideo
pay a dividend and the guaranteed value is valid only on the                                Phone: + 598 2 518 3400
maturity date. The value of the Note may be less than the                                   Fax:   + 598 2 518 3390
guarantee value during the maturity period. By investing in the                             Email: latin.america@superfund.com
Note, you incur a credit risk with ING Bank N.V. (Aa2/AA) as
the Note’s issuing institution.                                                             WWW.SUPERFUND.COM




**Superfund Cayman is a closed fund. The value of the notes can go down as well as up, and investors may not get back the capital protected amount if they sell or
redeem their notes prior to maturity. The performance figures shown herein are the results of simulations. This presentation contains examples which are based on
scenario analysis. This means that the examples given are based on purely hypothetical assumptions and are in no way indicative of the future performance of the
product. The information and opinions contained in this brochure are for information purposes only. Past results do not guarantee and are not indicative of future
performance. This brochure contains promotional material, is issued for information purposes only, and should not be construed as a solicitation or offer, or as legal,
tax or other advice, or recommendation to engage in any transaction. Prospective investors should understand the risks (i.e. credit risk on the issuer) involving these
products and should reach an investment decision only after careful consideration, with their advisers, of the suitability of investing in these products in light of their
particular investment considerations and based upon the prospectus. This brochure is not for distribution in the U.S., the U.K. and Canada or to U.S., U.K. or Canadian
persons. While we consider the information herein reliable, ING Bank N.V. makes no representation as to its accuracy or completeness. This brochure should be read
in conjunction with the prospectus. Certain services and products are subject to legal restrictions and therefore may not be available for residents of certain countries.
You should obtain relevant and specific professional advice before making any investment decision. Commission will be charged upon the issuance of these notes. The
commission has been taken into account in the issue price. ING Bank N.V. and Superfund Asset Management GmbH is registered at the Autoriteit Financiële Markten
in Amsterdam.

				
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