PRESS RELEASE
18/05/2001

Axel Miller joins the Dexia Group as General Counsel - Bruno Deletré joins the Executive Board of Dexia Crédit Local

Axel Miller, a former partner of Clifford Chance in Brussels, joined the Dexia group"s holding company as General Counsel on May 2, 2001. His appointment to the Executive Board will be submitted to the Board of Directors at their meeting of May 22, 2001. Axel Miller will be in charge of the group"s legal and administrative affairs and will pilot the group"s audit system.

Bruno Deletré, deputy director for Europe and international monetary affairs at the French Treasury, will join the Executive Board of Dexia Crédit Local, the Dexia group subsidiary specialized in public finance and financial services for public service organizations. The Executive Board of Dexia Crédit Local will thus be composed of Jacques Guerber, Chairman and member of Dexia"s Executive Board, Bruno Deletré and Philippe Valletoux.

Axel Miller, 36, a graduate of the Université Libre de Bruxelles (Licence en droit), began his career as an Associate with the Simont & Simont firm in 1987. In September 1990, he joined the Davis Polk & Wardwell offices in New York and Paris. He was admitted to the Brussels Bar in January 1991. An Associate with the Stibbe Simont Monahan Duhot firm in Brussels from December 1991, he became a Partner in 1996, a member of the Recruitment Committee and of the Management Committee. In May 1999, he joined the Clifford Chance firm in Brussels as a Partner.

Bruno Deletré, 40, a graduate of the Ecole Polytechnique and the Ecole Nationale d"Administration, began his career at the French Inspection Générale des Finances. In 1991, he was named deputy to the Head of the C2 Bureau for Insurance Companies at French Treasury , then in 1993, head of the F2 Bureau for « Africa - Franc zone ». In 1995, he was Technical Councilor on the staff of the Minister of the Economy and Finances in charge of International and European Affairs. In 1997, he became Deputy Director for financing of the Economy and corporate competitiveness untill May 2000. He was then named Deputy Director for Europe and International Monetary Affairs