Paris, 8th July 2009

Busan Bank (President Lee, Jangho www.busanbank.co.kr) announced today it has signed a non-capitalistic “Business Cooperation Agreement” with Credit Agricole SA (CASA). The signing ceremony was held on July 7th at Lotte Hotel Seoul.

The president of Busan Bank and Deputy CEO of CASA Jean-Frederic de Leusse attended the ceremony.

Through the Business Cooperation Agreement, the two banks will notably focus on distributing hedging or investment derivatives products produced by Calyon (the Corporate and Investment Banking arm of Credit Agricole) designed to fit the requirements of Busan Bank's customer base.

The representatives of the two banks stated, “This Business Cooperation between Busan Bank, the leading regional bank in Korea and CASA, the seventh largest financial group in the world by Tier-1 capital, aims to enhance the two banks' business synergy effect in the Korean market through mutual support in financial product development and collaborated marketing.”

Moreover, “the two banks will work together to maximize the effect of cooperation through joint-conduct marketing in the Busan region. We aim to strengthen the sales of our “tailor-made” financial products that optimally adapt to the fast-changing financial market and satisfy the various customer needs,” said the representatives.