PRESS RELEASE
21/08/2001

Ely Fund Managers (Holdings) Ltd to join the Dexia Group

Dexia Banque Internationale à Luxembourg announced today the acquisition in the UK of Ely Fund Managers (Holdings) Ltd.

Ely Fund Managers (Holdings) Ltd has assets under management in excess of EUR 830 million and specializes in managing bespoke portfolios for private clients, family trusts, charities and pensions. The company is based in London and Hampshire and has three operating subsidiaries with a total staff of 55: Ely Fund Managers Ltd and Pembroke Asset Management Ltd, looking after high net worth private clients and Independent Investment Management Ltd, concentrating on charities. In 2000, Ely Fund Managers (Holdings) Ltd totaled net profits of EUR 1.3 million.

This acquisition will improve the coverage of Dexia in wealth management activities in the UK.

Press contact : Guy Bertemes / Dexia BIL - tel. : (+352 4590 3879)