press release
11/05/2007

Reaction to this morning's press articles: nothing new or negative on the 2001 trading room fraud

 
With charges laid against the protagonists concerned, this morning the Belgian press recalled that Dexia was the victim of a trading room fraud in 2001.
It was not therefore a new case of fraud, as it may have been interpreted.
 
The consequences of the fraud committed in 2001 were fully covered by provisions or entered as a charge in the Group accounts between 2000 and 2004. This matter will therefore have no new negative consequences for the Group, which could have been a conclusion on a quickly reading the press articles.
 
On the contrary: Dexia has started proceedings in order to either fully or partly recover the loss on third parties. However, it is still too early to get an idea of the further proceedings and of the amount of the damages.
 
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