PRESS RELEASE
18/03/2004

Dexia Bank Belgium (DBB) and Dexia S.A. perused the fact...

...that TRA Rights Trust and Janet and James Baker are bringing an action against them before the United States District Court, District of Massachusetts, and that Stonington is considering bringing an action.

TRA Rights Trust (Seagate) and Janet and James Baker were shareholders of Dragon Systems Inc and Stonington was shareholder of Dictaphone Corporation. Dragon and Dictaphone were taken over by Lernout en Hauspie Speech Products NV (LHSP) in 2000.

The proceedings pertain to Artesia Banking Corporation transactions carried out before his acquisition by Dexia Bank Belgium.

Dexia Bank Belgium observes that its indictment in Belgium on 23 June 2003 prompts certain parties to bring an action in the United States. Dexia Bank Belgium reasserts once again that it bears no responsibility in the LHSP case and is itself attempting at recovering the damage it incurred in this matter. Dexia S.A. is not involved in this case and was unduly issued a writ.