PRESS RELEASE
13/07/2001

Marc Hoffmann is named interim Chairman of the Executive Board of Dexia Banque Internationale à Luxembourg

In agreement with Pierre Richard, Dexia's Managing Director, André Roelants has accepted the invitation of CLEASTREAM's Board of Directors to become the company's CEO.

As a result, André Roelants will shortly be stepping down from his operational functions with the Dexia Group. André Roelants was responsible for the creation of Cregem International Bank in 1990 before joining BIL in 1991 as vice chairman of the Executive Board when ownership of the bank was acquired by Crédit Communal de Belgique. Since 1996 André Roelants has led the bank with great success and has overseen its development into the internationally renowned bank it is today and its active contribution to the growth of the Dexia group. He will continue to be a member of Dexia BIL's Board of Directors.

Marc Hoffmann will take on the interim Chairmanship of the Executive Board of Dexia Banque Internationale à Luxembourg and will also replace André Roelants, in the interim, on the Executive Board of Dexia.

Pierre Richard will propose to the Boards of Directors of Dexia and Dexia BIL that they confirm these appointments at their next meeting.

Marc Hoffmann is 43 and is of Luxemburg nationality. He has been Vice Chairman of Dexia BIL since 1999.

Marc Hoffmann, aged 43, started his career with the Morgan Guaranty Trust Company of New York in 1984. In 1987, he joined JP Morgan Securities LTD in London and rose to the position of vice-chairman. In 1990, he became vice-chairman of AIG Financial Products (U.K) LTD. In 1991 he was appointed to the position of senior vice president and member of the Executive Board of Banque AIG, Paris, and subsequently promoted to senior executive vice president and then chairman of the Executive Board. He joined Dexia BIL in 1995 as senior vice president in charge of financial markets and in 1996 was appointed to the Executive Board of Dexia BIL, an appointment which was followed by promotion to vice chairman of the Executive Board in 1999.

Presscontact: Christiane Schmit, Head of Communication, Dexia BIL, tel. 00352 4590 3517