Paris, 7 November 2007

At its meeting on 6 November 2007, the Board of Directors of Crédit Foncier de Monaco appointed Gilles Martinengo Chief Executive Officer as of 1 December 2007, replacing Hervé Catala, previously appointed Chief Executive Officer of Banque de Gestion Privée Indosuez, Crédit Agricole's private banking specialist in France.

Gilles Martinengo has been part of Marketing and Investments since 1999 and is a member of the Executive Committee of Crédit Agricole Suisse.

After joining the private banking division of Banque Indosuez in Paris in 1981, he joined Banque Indosuez in Switzerland as marketing manager in 1987 before moving to Crédit Agricole Indosuez Singapore as head of private banking in 1997.

Gilles Martinengo, 53, has a master's degree in business management.

Crédit Foncier de Monaco is the Principality's leading bank, offering private and commercial banking services.

Bruno Darcet - Tel : +377 93 10 21 03 - bdarcet@cfm.mc