FIFTH THIRD BANCORP/OLD KENT FINANCIAL FORM 425

  Filed by Fifth Third Bancorp
Pursuant to Rule 425 under the Securities Act of 1933
Subject Company: Old Kent Financial Corporation
Securities Act Registration Statement No. 333-52182
Text version of 425 filed on January 25, 2001

Fifth Third Bank
Salomon Smith Barney
Fourth Annual Financial Services Conference

Financial Strength & Consistent Growth

Neal E. Arnold
Executive Vice President
Chief Financial Officer

Wilfrid A. Daly, III
Chief Marketing Officer

January 25, 2001

 

Consistent & Superior Performance

Average EPS Growth (a)

                         
20 Yr 10 Yr 5 Yr
FITB 15.9% 16.2% 16.1%
S&P 500 6.8% 10.0% 10.3%

Year – to – Year % Change in EPS

                                                                                 
22.3 21.7 14.1 11.4 14.6 15.4 16.9 18.7 17.3 15.8 10.0 14.0 18.0 19.3 15.5 15.0 14.1 17.2 20.5 17.0 17.4
1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996* 1997 1998* 1999* 2000*

Delivering Value to Shareholders

N.B.: Data is as originally reported in Annual Reports. *Before impact of one-time charges.

2

Pristine Balance Sheet = Flexibility & Consistency

•   Balance Sheet Strength

      – Equity to Assets: 10%
 
      – Tangible Equity to Assets: 9%
 
      – Favorable deposit and earning asset mix trends

•   Credit Quality

      – LLR coverage of NPAs is 3.8x Vs. 10-year average of 1.7x
 
      – UPA/Total Loans & Leases is .72 bp Vs. 10-year average of 1.02
 
      – YTD Charge-off Ratio is .41 bp Vs. 10-year average of .45 bp

•   Rating Agencies
           
S&P Moody's
–  Deposits AA - Aa2
–  Commercial Paper A-1+ Prime-1

       Moody’s upgrade in September from A1 to Aa3.

        One of only a handful of bank holding companies with this rating.


NB: Fifth Third Historical

3

Balanced Business Mix — Four Businesses

Revenues

                 
Business Dollars Percentage
Retail $ 323 53 %
Commercial $ 165 27 %
Transaction Processing $ 61 10 %
Investment Advisory $ 59 10 %

Net Income

                 
Business Dollars Percentage
Retail $ 110 51 %
Commercial $ 68 31 %
Transaction Processing $ 21 10 %
Investment Advisory $ 17 8 %

N.B.: Dollars in millions as of Q3 2000

4

Fourth Quarter Highlights

                         
Increase over Q4 99
EPS $ .50 19.0 %
Net Income $ 236,402,000 18.2
ROA 2.11 % 11.1
ROE 20.6 % 6.7
Overhead Ratio 42.2 % 5.7
Capital Ratio 10.24 % 4.3

—   Fifth Third was named the #1 Bank in Forbes Magazine’s Platinum 400 list

N.B. EPS defined as operating earnings per diluted share. All calculations exclude one-time charges. Capital ratio defined as average gap equity to average assets

5

FITB Affiliate Banks (Pro forma)

—   Old Kent affiliates will represent a significant portion of the combined franchise
                                                 
FITB Affiliates Assets Deposits Branches President Years @ 5/3
Cincinnati $ 11.7 $ 8.0 100 G. Schaefer, Jr 28
Grand Rapids 10.1 7.9 155 K. Kabat — OK Affiliate (c)
Chicago 9.2 6.7 117 B. Stamper (a) 14 OK Affiliate
Southern Indiana 5.1 2.4 58 J. Daniel (b) 1
Dayton 4.9 2.8 65 D. Sadlier 9
Detroit 4.6 3.0 74 P. Fehring (a) 20 OK Affiliate
Columbus 4.1 2.5 59 T. O'Dell —
Toledo 4.1 2.6 44 B. Sullivan (b) 1
Central Indiana 3.9 2.6 82 M. Alley 14
Cleveland 3.7 2.4 75 R. King 24
Northern Michigan 1.5 1.1 22 J. Pelizzari — OK Affiliate
Louisville 2.0 1.0 40 J. Gaunt 31
Northern Kentucky 1.3 0.9 28 T. Rawe 24
Arizona 1.0 0.4 11 B. Robert (b) 2
Lexington 1.0 0.4 17 S. Barnes 6
Ohio Valley 1.0 0.6 23 S. Greenlee 10
Florida 0.5 0.3 10 C. Kvetko 12

(a)   Current Fifth Third executive.
(b)   Indicates executives who have joined FITB from acquired institutions.
(c)   Includes pending acquisitions.

6

Best Fit with Focus in Larger MSA Markets

Dollars in millions.

Pro Forma Market Share
In FITB/OK 10 Largest MSAs

                                         
Rank Institution* Deposits Branches Mkt. Share
1 Bank One $ 61.2 637 16.7 %
2 ABN AMRO 37.7 369 10.3
3 Fifth Third 29.6 628 8.1
4 National City 21.6 477 5.9
5 KeyCorp 17.5 196 4.8

* Pro Forma for pending acquisitions.
Source: SNL Branch Migration Database as of June 30, 1999.

NB -combined FITB / OK data pre-divestiture (if required).
-combined SFB / MNC data pre-divestiture (if required).

7

Executing Locally

•   All product-lines report to local affiliate CEO
 
•   Push P&L growth accountability further down in to the company
 
•   Measure Relentlessly / Stress Accountability
 
•   Reward success
 
    – Variable compensation
 
    – Stock options
 
•   Upgrade under-performers continuously
 
•   Trust capitalism

8

Linking Share Ownership to Behavior

—   Implementation of Fifth Third’s incentive programs
 
—   Key components
 
    – Performance based incentive compensation
 
    – Variable bonus level tied to high performance targets
 
    – All front-line managers have and will continue to participate in Fifth Third option grant program
 
    – Significant personal investment by Fifth Third team in FITB stock
 
    – Old Kent executives will have significant ownership as well
 
—   Share ownership mindset:

                 
FITB OK
• % of Employees Owning Shares 77 % 33 %
• # of Officers Receiving Options 2,250 1,750
• % ownership by Employees & Directors 9.7 % 6.5 %

9

Market Confidence

—   Moody’s upgrade in September from A1 to Aa3. One of only a handful of bank holding companies with this rating.
 
—   Stock Performance:
                                   
1 year 5 year 10 year 20 year
FITB 24 % 35 % 32 % 30 %
S&P 500 -9 % 20 % 24 % 13 %

* N.B. All returns as of 12/31/00

10

Record of Successful Acquisition Integration

—   Proven ability to improve target profitability
 
—   Fifth Third has always delivered on acquisition promises
                                 
Year ROA at 2000 % of
Affiliate Acquired Purchase ROA Market Cap
Central Indiana (CNB Bancshares) 1999 1.38 % 1.75 % >
Southern Indiana ( “        “ ) 1999 1.42 1.50 > 9.9 %
Northern Indiana ( “        “ ) 1999 1.00 1.33 >
Western Ohio (CitFed*) 1998 0.87 1.64 4.7
Columbus, Ohio (State SB*) 1998 1.26 2.08 5.4
Louisville, Kentucky (Cumberland*) 1994 0.85 1.62 4.1
Northwestern Ohio 1989 0.97 2.18 20.1

* Thrift Institution

11

Combined Balance Sheet

Dollars in millions.

                           
Fifth Third Old Kent Pro Forma
Cash & Securities $ 16,812 $ 4,672 $ 21,484
Gross Loans 25,952 16,606 42,558
Allowance for Loan Losses (383 ) (226 ) (609 )
Other Assets 3,476 2,790 6,266
Total Assets $ 45,857 $ 23,842 $ 69,699
Deposits $ 30,948 $ 17,410 $ 48,358
Other Liabilities 9,845 4,561 14,406
Capital Securities 173 100 273
Total Equity 4,891 1,771 6,663
Total Liabilities & Equity $ 45,857 $ 23,842 $ 69,699

N.B. Financial data as of December 31, 2000.

12

No Need to Rush

—   Immediately accretive to EPS, before cost savings
         
Estimated
EPS Accretion
2001 No Synergies 9.4 %
2001 with Phased-in Synergies (a) 11.3
2002 with Phased-in Synergise (a) 12.5

—   Conservative, identifiable and readily achievable cost savings

  –   Only 20% of Old Kent overhead
 
  –   Realistic Savings Timetable: 25% in ‘01      75% in ‘02      and 100% in ‘03
 
  –   Goal: – Protect and grow revenues
 
               – Positioned to roll-out typical Fifth Third enhancement programs

—   IRR well above cost of capital with conservative assumptions

      (a) Assumes cost savings equal to 20% of Old Kent’s controllable non-interest expenses phased-in at 25% in 2001 and 75% in 2002

13

Stable Credit Quality

Fifth Third (Pro-Forma) 4th Quarter Credit Statistics

                   
Non Accrual Loans $ 174,250
Renegotiated Loans 1,603
Other Real Estate Owned 24,685
Total Non-Performing $ 200,538
Net Charge-Offs $ 34,945
                   
Fourth Quarter
Industry Average
• Non-Performing Assets as a % of Loans, Leases & OREO .47 % .76 %*
• Reserve Balance / NPAs 3.46 x 1.91 x**
• Net Charge-Offs as a   % of Average Loans & Leases Oustanding .33 % .56 %*

* Industry average calculated on reported Q4 2000 results of ASO, BAC, BK, ONE, BBT, JPM, FTN, FTU, FSR, FBF, HBAN, KEY, MEL, PNC, RGBK, SOTR, STT, SUB, STI, SNV, TCB, USB, UPC, WB, WFC.
** Lehman Brothers 4Q00 Bank Composite Average

14

Commercial Loan Summary

                                                 
Auto dealers Wholesale trade Other Real Estate Service Industries Construction Co's Manufacturing
6% 5 % 26 % 20 % 17 % 8 % 18 %

—   Average obligation at 2000 year end was $316 K
 
—   Average obligor exposure was less than $505 K

15

Consistent & Balanced Loan Portfolios

Fifth Third

                                                 
Construction Commercial
Mtg		 Commercial
Loans &
Leases		 Residential Mtg Home Equity Credit Cards Other Consumer
6% 11 % 34 % 17 % 11 % 1 % 20 %

Pro Forma

                                                 
Construction Commercial
Mtg		 Commercial
Loans &
Leases		 Residential Mtg Home Equity Credit Cards Other Consumer
7% 14 % 32 % 14 % 16 % 1 % 16 %

16

Ongoing Superior Performance Measures

                         
Pro Forma
LTM - 12/00 Fifth Third Old Kent Combined(1)
ROAA 1.98 % 1.46 % 1.95 %
ROACE 20.0 20.8 21.7
Efficiency Ratio(2) 40.6 56.7 42.1
Tangible Common Ratio 9.42 % 6.89 % 8.55 %
Leverage Ratio 10.41 7.26 9.31

(1) LTM 12/31/00 pro forma combined for ROACE, ROAA and Efficiency Ratio assuming full 20% of Old Kent controllable non-interest expenses, and excludes non-recurring items.
(2) LTM 12/31/00 excludes amortization of intangibles.

17

FITB Continues to Deliver Industry-Leading Returns

                           
ROE(1)
1 Mellon Financial 25.8 %
2 Bank of New York 25.8
3 US Bancorp (pro forma) 22.8
4 FITB / OK * 21.7
5 Northern Trust Corp 21.3
6 Synovus Financial Corp 20.1
7 BB&T Corp 20.0
8 Comerica 19.9
9 FleetBoston Financial 19.9
10 PNC Financial Serv 19.8
 
ROA
1 Mellon Financial 2.15 %
2 US Bancorp (pro forma) * 2.06
3 FITB / OK * 1.95
4 Synovus Financial Corp 1.95
5 Bank Of New York 1.83
6 Comerica 1.81
7 Wells Fargo 1.78
8 PNC Financial Serv 1.76
9 FleetBoston Financial 1.63
10 National City Corp 1.49
 
Efficiency
1 FITB / OK * 42.1 %
2 US Bancorp * 42.4
3 First Union 45.3
4 Comerica 46.7
5 BB&T Corp 47.1
6 Bank of New York 49.6
7 Bank of America 50.7
8 Wachovia Corp. 51.8
9 Wells Fargo 53.0
10 SunTrust Banks, Inc 55.1
 
LT Growth
1 FITB / OK 16.0 %
2 Synovus Financial Corp 15.0
3 State Street Corp 14.7
4 US Bancorp (pro forma) 14.0
5 Wells Fargo 13.0
6 Bank of New York 13.0
7 Mellon Financial 13.0
8 Northern Trust Corp 13.0
9 FleetBoston Financial 12.0
10 BB&T Corp 12.0

Data excludes Citigroup and companies that have announced control sales.
(1) For U.S. banking institutions with leverage ratio > 6.75%
LT EPS Growth Rate Source: IBES and IDD Information Services
* 12/31/00 LTM combined financial data adjusted to reflect 100% of announced cost savings

18

Significant Potential for Continued Growth

—   Only 1 out of 16 possible households is a Fifth Third customer
 
—   Best major-MSA concentration
 
—   Familiar Fifth Third competitors
 
—   Fragmented market

Indiana

     
Population 5.9 million
National Rank 14th
                             
Deposits Branches Market Share
1. Bank One Corp $ 12,333 219 17.5 %
2. National City Corp. 7,053 202 10.0
3. FITB / OK 5,386 162 7.7
4. Old National Bancorp 4,270 104 6.1
5. 1st Source Corp. 2,182 44 3.1

Illinois

     
Population 12.1 million
National Rank 5th
                             
Deposits Branches Market Share
1. Bank One Corp $ 30,166 244 13.8 %
2. ABN AMRO 23,260 122 10.6
3. Bank of Montreal 15,813 134 7.2
4. Northern Trust Corp. 8,285 17 3.8
5. FITB / OK 6,718 94 3.1

Ohio

     
Population 11.2 million
National Rank 7th
                             
Deposits Branches Market Share
1. Key Corp $ 18,953 225 12.1 %
2. Fifth Third 16,408 378 10.5
3. National City Corp. 15,624 349 10.0
4. Bank One Corp. 15,168 276 9.7
5. US Bancorp 9,034 307 5.8

Michigan

     
Population 9.8 million
National Rank 8th
                             
Deposits Branches Market Share
1. Bank One Corp $ 18,008 259 15.9 %
2. Comerica Inc. 16,053 251 14.2
3. FITB / OK 10,604 269 9.4
4. National City Corp. 10,040 275 8.9
5. ABN AMRO 9,268 151 8.2

Kentucky

     
Population 4.0 million
National Rank 25th
                             
Deposits Branches Market Share
1. National City $ 4,549 114 9.4 %
2. US Bancorp 4,036 134 8.4
3. Bank One 3,995 68 8.3
4. PNC Bank 3,322 56 6.9
5. Fifth Third 2,589 97 5.4

Source: SNL Branch Migration Database as of June 30, 1999.
NB -combined FITB / OK data pre-divestiture (if required).

19

Substantial Potential — Proven Execution

    No revenue enhancements assumed, but long standing track record of improving performance and revenue
 
    Significant potential for revenue and productivity improvements
                 
Fifth Third Old Kent
- Net income per FTE $ 76.3k $ 39.4k
- Net revenue per FTE $ 211k $ 154k
- Efficiency ratio 42.2 % 58.2 %

    Demonstrated performance with CNB acquisition
         
- Net income per FTE at announcement (6/99) $ 35.0k
- Consol. Indiana NI per FTE — YTD 2000 $ 77.8k

20

Retail Banking

“Getting our hands dirty”

21

Consumer Checking Campaign Integration

Winter Wonderland
Consumer Checking Account
Campaign

                                                     
NEW ACCOUNTS % NEW BALANCES %
AFFILIATE NEW GOAL of GOAL NEW GOAL of GOAL
Ohio Valley 352 2,790 13 % 1,632,881 5,017,000 33 %
Northern Indiana 995 3,523 28 % 3,798,450 11,584,000 33 %
Louisville 1,252 7,981 16 % 4,288,625 13,344,000 32 %
Florida 249 855 29 % 2,099,794 8,488,000 25 %
Columbus 1,474 10,405 14 % 5,515,507 24,990,000 22 %
Western Ohio 1,142 7,184 16 % 4,854,293 23,120,000 21 %
Northwest Ohio 883 8,113 11 % 2,761,122 16,528,000 17 %
Central Indiana 1,239 11,207 11 % 3,058,742 20,089,000 15 %
Cincinnati 2,108 15,150 14 % 5,934,134 46,883,000 13 %
Northern KY 474 4,055 12 % 1,308,448 11,184,000 12 %
Northeast Ohio 1,152 4,726 24 % 2,640,586 22,752,000 12 %
Southern Indiana 718 7,317 10 % 1,622,281 14,754,000 11 %
Southwest 179 1,037 17 % 1,063,740 10,071,000 11 %
Lexington 369 1,657 22 % 652,512 6,196,000 11 %
Total Fifth Third 12,586 86,000 15 % 41,231,115 235,000,000 18 %
North Michigan 350 1,477 24 % 4,236,739 4,032,001 105 %
West Michigan 1,973 10,552 19 % 13,019,350 28,815,311 45 %
Illinois 1,003 16,133 6 % 12,108,874 44,069,739 27 %
East Michigan 1,080 10,734 10 % 6,805,532 29,320,849 23 %
Indiana 39 2,104 2 % 53,563 5,750,000 1 %
Old Kent 4,445 41,000 11 % 36,224,058 111,987,900 32 %
Total Campaign 17,031 127,000 13 % 77,455,173 346,987,900 22 %

* As of January 19, 2001 Bancorp should be at 14.5% of the total goal.

22

Retail Deposit Campaigns

23

Direct Loan Campaigns

2001 1st Quarter Direct Loan Campaign

“Bye Bye Bills” — As of January 19, 2001

                                                     
New Loans $ Amounts
Affiliate Actual Goal % Actual O/S Goal O/S %
Northern Indiana 220 2,147 10 % 5,829,230 34,507,000 17 %
Cincinnati 242 3,960 6 % 3,279,682 73,416,000 4 %
Louisville 75 1,792 4 % 1,418,499 32,153,000 4 %
Western Ohio 157 2,912 5 % 2,131,526 55,062,000 4 %
Southwest 10 493 2 % 370,387 9,723,000 4 %
Southern Indiana 178 2,473 7 % 1,612,448 43,517,000 4 %
Northwestern Ohio 78 1,927 4 % 1,242,011 34,583,000 4 %
Central Ohio 108 2,814 4 % 1,566,905 49,056,000 3 %
Ohio Valley 52 1,031 5 % 576,730 18,390,000 3 %
Central Indiana 113 3,180 4 % 1,369,418 58,486,000 2 %
Central Kentucky 16 762 2 % 402,376 17,353,000 2 %
Northern Kentucky 42 1,214 3 % 565,287 29,383,000 2 %
Northeastern Ohio 79 3,797 2 % 996,267 52,103,000 2 %
Florida 1 448 0 % 10,161 7,268,000 0 %
Total Fifth Third 1,371 28,950 5 % $ 21,370,924 $ 515,000,000 4 %
North Michigan 146 2,610,276
West Michigan 466 7,987,601
East Michigan 173 3,949,037
Illinois 199 4,415,159
Ft Wayne 9 86,000
Total Old Kent 993 11,900 8 % $ 19,048,073 $ 221,789,000 9 %
Total Campaign 2,364 40,850 6 % $ 40,418,997 $ 736,789,000 5 %

Bancorp should be at 5.2% of the total goal.

24

Direct Loan Campaign

   
Special Offers
Line: Introductory rate and Prime +0% for life
Loans: $99 Payment and 120 days deferred payment option

25

The Results

Year-Over-Year

    Demand deposits and interest checking balances increased by eleven and eight percent, respectively.
 
    Consumer demand deposits increased by 17 percent
 
    Retail deposit service charges increased by 31 percent.
 
    Direct installment loan balances increased by 20 percent, fueled by annual originations of $2.5 billion compared to $2.0 billion a year ago.

26

Commercial Banking

“That wouldn’t be happiness to see me ...”

27

Commercial Deposit Campaigns

2000 — 2001 Commercial Deposit Campaign

Hawaii Five–Three
Campaign to date 5/01/00 – 12/31/00

                                                         
Change
in Total
New Account Production Total Balance Balance % of Goal Pace
Affiliate Accounts Balance Deposits Deposits Account Balance Balance
 
Northern Kentucky 209 6,456,187 80,234,162 16,687,854 99.52 158.93 65.38
Louisville 190 9,383,356 88,184,851 21,736,666 52.78 120.76 65.38
Cincinnati 1,194 112,467,115 1,088,416,300 254,521,907 41.89 111.63 65.38
Central Kentucky 87 8,326,583 57,646,883 10,012,321 48.33 111.25 65.38
Central Ohio 509 20,141,279 142,355,805 35,213,971 64.27 88.92 65.38
Florida 87 5,114,656 28,311,685 4,574,876 80.56 84.72 65.38
Northwestern Ohio 179 18,489,506 141,457,841 23,301,230 31.08 80.91 65.38
Western Ohio 296 10,538,152 185,904,892 15,723,024 53.62 56.97 65.38
Northeastern Ohio 300 11,739,613 99,786,417 18,976,749 43.10 54.53 65.38
Northern Indiana 239 6,219,393 6,219,393 6,219,393 52.41 27.28 65.38
Central Indiana 171 9,377,857 102,107,801 11,002,991 16.19 20.84 65.38
Ohio Valley 60 5,291,420 49,682,037 1,689,076 27.78 15.64 65.38
Southern Indiana 106 8,052,872 7,693,973 7,693,973 7.60 11.25 65.38
Southwest 9 84,971 14,887,591 14,887,591 18.75 (11.99 ) 65.38
Total Bancorp 3,634 $ 231,324,061 2,092,889,631 $ 427,066,155 38.38 % 76.41 % 65.38 %

28

Commercial Deposit Campaigns

2000 — 2001 Commercial Deposit Campaign
Hawaii Five-Three

                                                           
New Production Change in % of Goal
Rank Officer Affiliate Accounts Balances Total Balance Total Balance Total Balance
 
1 Marty Orr Northwestern Ohio 14 11,055,862 11,849,114 1184.91 % 1184.91 %
2 H. Lair Louisville 10 2,472,670 22,441,895 1122.09 % 1122.09 %
3 David Gordley Cincinnati 88 28,272,905 39,766,819 611.80 % 611.80 %
4 Terry Lyons Cincinnati 12 10,094,465 24,199,597 604.99 % 604.99 %
5 Ted Berge Central Kentucky 32 2,644,208 7,007,823 545.05 % 545.05 %
6 Ted Lape Central Ohio 49 8,709,770 15,852,595 528.42 % 528.42 %
7 Dan Klus Cincinnati 96 1,458,326 33,098,640 509.21 % 509.21 %
8 Jennifer Gray Cincinnati 36 13,884,476 14,070,319 469.01 % 469.01 %
9 Mic Cooney Northern Kentucky 11 89,492 5,861,843 390.79 % 390.79 %
10 Lamont Thurston Western Ohio 52 1,294,315 7,452,778 372.64 % 372.64 %
11 Andy Hauck Cincinnati 48 10,504,261 27,787,642 370.50 % 370.50 %
12 Bill Carroll Cincinnati 27 3,619,647 10,479,725 349.32 % 349.32 %
13 Tom Partridge Cincinnati 14 216,929 13,859,899 346.50 % 346.50 %
14 Lori Geier Cincinnati 26 1,774,254 9,832,000 327.73 % 327.73 %
15 Jim Byrnes Northeastern Ohio 15 296,176 4,789,453 319.30 % 319.30 %
248 WORK IN PROGRESS Louisville 17 774,544 (2,173,223 ) -144.88 % -144.88 %
249 Ohio Valley — — (1,487,349 ) -148.73 % -148.73 %
250 Western Ohio 4 63,492 (4,464,096 ) -148.80 % -148.80 %
251 Cincinnati 7 422,965 (3,226,723 ) -161.34 % -161.34 %
252 Louisville 34 1,058,516 (3,122,567 ) -208.17 % -208.17 %
253 Central Indiana 4 534,699 (1,264,117 ) -378.52 % -378.52 %
254 Central Indiana 2 42,426 (508,776 ) -380.86 % -380.86 %

29

The Results

Year-Over-Year

    Average Commercial deposits increased 11 percent
 
    Business 53 account balances increased 28 percent
 
    Commercial checking service charges increased 59 percent
 
    International service charges increased 336 percent

30

Thank You

31

Forward-Looking Statement

This document contains forward-looking statements about Fifth Third Bancorp (“Fifth Third” or “FITB”), Old Kent Financial Corporation (“Old Kent” or “OK”) and the combined company which we believe are within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are made in connection to the financial condition, results of operations, plans, objectives, future performance and business of Fifth Third and/or the combined company. These forward-looking statements involve certain risks and uncertainties. There are a number of important factors that could cause future results to differ materially from historical performance and these forward-looking statements. Factors that might cause such a difference include, but are not limited to: (1) competitive pressures among depository institutions increase significantly; (2) changes in the interest rate environment reduce interest margins; (3) prepayment speeds, loan sale volumes, charge-offs and loan loss provisions; (4) general economic conditions, either national or in the states in which Fifth Third and Old Kent do business, are less favorable than expected; (5) legislative or regulatory changes adversely affect the business in which Fifth Third and Old Kent are engaged; and (6) changes in the securities markets. Further information on other factors which could affect the financial results of Fifth Third after the merger are included in Fifth Third’s and Old Kent’s filings with the SEC. These documents are available free of charge at the SEC’s website at http://www.sec.gov and/or from Fifth Third or Old Kent.

32

Disclosure

Investors and security holders are advised to read the proxy statement/prospectus regarding the transactions referenced in this document when it becomes available, because it will contain important information. The proxy statement/prospectus will be filed with the Securities and Exchange Commission by Fifth Third and Old Kent. Security holders may receive a free copy of the proxy statement/prospectus (when available) and other related documents filed by Fifth Third and Old Kent at the Securities and Exchange Commission’s website at http://www.sec.gov and/or from Fifth Third or Old Kent.

Old Kent and its executive officers and directors may be deemed to be participants in the solicitation of proxies from stockholders of Old Kent with respect to the transactions contemplated by the merger agreement. Information regarding such officers and directors is included in Old Kent’s proxy statement for its 2000 Annual Meeting of shareholders filed with the Commission on February 25, 2000. This document is available free of charge at the Commission’s website at http://www.sec.gov and/or from Old Kent.

Fifth Third and its executive officers and directors may be deemed to be participants in the solicitation of proxies from stockholders of Fifth Third with respect to the transactions contemplated by the merger agreement. Information regarding such officers and directors is included in Fifth Third’s proxy statement for its 2000 Annual Meeting of shareholders filed with the Commission on February 9, 2000. This document is available free of charge at the Commission’s website at http://www.sec.gov and/or from Fifth Third.

33