press release
19/02/2007

Sale of Dexia Banque Privée France to BNP Paribas

Dexia confirms signature of an agreement relating to the sale of Dexia Banque Privée France (“DBPF”) to BNP Paribas. 
 
This agreement follows the announcement on 14 December 2006 of exclusive discussions between Dexia and BNP Paribas. The information and consultation procedure on the proposed sale, mentioned in that announcement, has been completed with the relevant corporate social bodies. The DBPF works council gave its opinion in favour of the transaction.
 
To recall, on 28 June 2006 Dexia had announced that it was studying various strategic options with regard to the future of DBPF as part of its ongoing review of its portfolio of activities and its policy of focusing on certain areas.
 
DBPF offers private banking services to private clients and non-for-profit organisations. As at 31 December 2006, equity capital totalled EUR 117 million and client assets were almost EUR 3 billion. DBPF has almost 200 employees, the great majority of whom are based in Paris.
 
As a consequence of the sale of DBPF, Dexia will post a total after-tax gain of EUR 42 million.
 
The transaction is subject to approval being obtained from the relevant supervisory authorities.
 
Dexia, a European banking group, world leader in Public & Project Finance 
 
The Dexia Group (www.dexia.com) was born in 1996 from the alliance of two major players in local public finance in Europe: Crédit local de France and Crédit Communal de Belgique. With a market capitalisation of EUR 23.8 billion at 31 December 2006, Dexia ranks among the twenty largest financial institutions in the euro zone. It currently employs some 33,000 staff in about thirty countries. Dexia enjoys one of the best credit ratings in the banking sector. Dexia’s development strategy is based on the Group’s two pillars: Universal Banking in Europe (Belgium, Luxembourg, Slovakia and Turkey), and Public & Project Finance worldwide.
 
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