Paris, 2 July 2008

Employees need to plan for their retirement at an ever earlier stage in their career, and for this the best tool is the Corporate Retirement Savings Scheme (Plan d'Epargne Retraite Collectif - PERCO). In light of this, Crédit Agricole Asset Management (CAAM) provides effective support for employees and offers new collective savings products.

After reading the results of the CAAM/TNS Sofres report on "young working people and retirement", Pierre Schereck, CAAM's Head of Sales and Marketing for Employee Savings, observed that: "Far from being indifferent, young working people in fact take a realistic view of retirement. They are ready to save part of their income, especially in collective schemes. And they highlight a real need for support, in the absence of sufficiently relevant information."

CAAM is therefore making two commitments :

• Support employees - and facilitate their choices - throughout the decision-making process by giving them practical help in identifying their project, their investor profile and the savings solution most appropriate to their individual situation. To launch this process, CAAM made a complete range of online simulators available from 5 June.

• Open up collective savings to the new techniques and innovations of individual savings. To complement the asset diversification range (PREM) launched 18 months ago, CAAM wishes to introduce protected capital products by launching "new generation" funds that capture market performance while also securing the capital and the gains realised. CAAM is also considering whether to launch index-linked formula funds.
  
  To support these two commitments and as part of the ongoing client-focused approach it has built up over the last few years, CAAM is implementing two corporate-oriented initiatives :
• Hold training days on the practical implementation of PERCO.
• Together with ORAS (Observatoire Rémunérations et Avantages Sociaux -Remuneration and Company Benefits Analysis), set up a user club dedicated to PERCO and, next October, award the PERCO trophy to the company with the most inspiring scheme.
  

About the employee savings activity of Crédit Agricole Asset Management (CAAM)
A longstanding player in employee savings (since 1967), CAAM is No. 2 in France, with 19.6% of the market, i.e. more than 17 billion euros under management, at 31 December 2007. In employee share ownership, CAAM is No. 1, with over 23.6% of AUM1.
The employee savings activity works with large corporates, SMEs, micro businesses and professionals who are clients of Crédit Agricole Regional Banks of and LCL. Crédit Agricole Group has around 44,000 corporate clients and more than 1.9 million employee clients. With 481.7 billion euros under management at 31 March 2008, CAAM Group, Crédit Agricole's asset management company, is No. 1 in collective fund management in both France2 and Europe3. CAAM Group is a wholly owned subsidiary of Crédit Agricole Group.

1) Source: AFG 31/12/2007 2) Source: Europerformance, gestion collective (collective fund management) - March 2008 3) Source: Lipper, OPCVM commercialisés en Europe (UCITS marketed in Europe) - December 2007