Paris, 18 July 2007

At its meeting yesterday, the board of directors of Crédit Agricole S.A. reviewed the group's new organisation and management structure and, at the proposal of Georges Pauget, chief executive officer, appointed two deputy chief executive officers.

Within the last five years, Crédit Agricole S.A. group has almost tripled in size and growth will continue in the years ahead. To enhance cohesion and drive this growth, the group's organisation has been restructured as follows:

• There are now five core businesses :
  o Retail Banking in France and Group Retail Strategy
  o International Development
  o Specialised Financial Services
  o Insurance, Asset Management and Private Banking
  o Corporate and Investment Banking
  
  The core businesses are responsible for promoting growth in the entities reporting to them and for their strategic management.
• There are also five management support functions: Human Resources, Risk Management and Internal Control, Finance, Strategy and Industrial Development.
• The role of the management support functions is to define and apply group standards and provide value-added services to all business lines.