press release
06/09/2006

Successful completion of the capital increase

 
Dexia SA announces that its accelerated bookbuilt offering announced today was successfully completed after receiving strong demand from institutional investors. Dexia has accordingly placed 62 176 166 new ordinary shares with institutional investors at a price of EUR 19.30 per share; the total gross proceeds of the offering amount to EUR 1 200 000 000.
 
Closing and settlement of the offering is expected to take place on or around 12 September 2006.
 
This press release does not constitute any offer or solicitation to purchase or subscribe for securities in Belgium, France, Luxembourg or any other jurisdiction in which such offer or solicitation would be unlawful. The distribution of this press release may be restricted by law or regulation in certain countries. Accordingly, persons who come into possession of this document should inform themselves of and observe these restrictions. The shares referred to in this press release will not be publicly offered in Belgium, France, Luxembourg or any other jurisdiction and such shares will not be registered in any jurisdiction.
 
These materials are not for distribution, directly or indirectly, in or into the United States of America. These materials do not constitute or form a part of any offer or solicitation to purchase or subscribe for securities. The securities mentioned herein may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the “Securities Act”). The Shares have not been, and will not be, registered under the Securities Act and will not be publicly offered in the United States.
 
This press release does not constitute an offer of securities in the United Kingdom and is for information only. It is only directed at “qualified investors” or other persons to whom it can lawfully be directed within section 86(1) of the Financial Services and Markets Act 2000. It is being communicated only to persons who receive the communication in the course of a business which involves dissemination through a publication of information concerning investment activities regulated by the Financial Services Authority, or to persons who have professional experience in matters relating to investments, or to any other persons to whom it can lawfully be communicated. Persons who do not have professional experience in matters relating to investments should not rely on it. Any investment to which this press release relates is only available to relevant persons.