London, 18 September 2007

At its meeting today, the Board of Directors of Crédit Agricole Asset Management (CAAM) and CAAM Group appointed Yves Perrier as Chairman and Chief Executive Officer of the two companies. Mr. Perrier will replace Thierry Coste, who is retiring at the age of 65 and who has been named Honorary Chairman of both companies. On the proposal of the new Chairman, the Board of Directors also confirmed Paul-Henri de La Porte du Theil as deputy Chief Executive of CAAM and CAAM Group, and Jean-Yves Colin as deputy Chief Executive of CAAM Group.

Crédit Agricole Asset Management Group is Crédit Agricole Group's asset management subsidiary. With € 565.7 billion of assets under management at 30 June 2007, CAAM Group is the 5th largest asset management company within Continental Europe*. CAAM Group's subsidiaries offer a complete line of investment products for:

• The regional banking networks of Crédit Agricole, LCL and the international retail banking subsidiaries of Crédit Agricole group and,
• Institutional investors, large corporate accounts and third-party distributors in France and abroad.
  
  Crédit Agricole Asset Management Group is active in 22 countries (Europe, Asia-Pacific, North America, the Middle East and North Africa).
  
  Biography:
  After ten years experience in auditing and consultancy, notably with the firms E. Salustro and PA Consulting, Yves Perrier joined Société Générale during its privatisation in 1987, where he was appointed Head of Accounting Department (1987-1991), Financial Controller (1991-1995), and Chief Financial Officer (1995-1999). In September 1999, following the stock market battle between Société Générale and BNP, Mr. Perrier joined Crédit Lyonnais at the time of its privatisation. As a member of the Executive Committee, he supervised Finance, Risk and Internal Audit. He was also a board member of Crédit Lyonnais Asset Management. At the end of 2002, acting on behalf of Crédit Lyonnais, he oversaw the financial operation that led to the merger with Crédit Agricole. As a member of Crédit Agricole's Executive Committee since June 2003, he simultaneously held the positions of Group Risk Management Director and Chief Operating Officer (COO) of the investment banking division in charge of support functions. In this capacity, he directed the splitting up of Crédit Lyonnais' retail banking and investment banking activities, and the latter's subsequent merger with Crédit Agricole Indosuez to form Calyon on 1 May 2004. At this date, he was named Chief Executive of Calyon in charge of structured finance, brokerage, risk and support functions.
  In 2005, Mr. Perrier took the responsability of the international network, while maintaining responsibility for structured finance and support functions. Mr. Perrier is also Chairman of the Supervisory Board of CACEIS, a securities custody company jointly owned by Crédit Agricole Group and Natixis. Born in 1954, Yves Perrier graduated from ESSEC and is a Certified Public Accountant (CPA).

*IPE - Top 400 European Asset Management Leaders, data as at Dec. 2006, issued in June 2007