Paris, 14 February 2008

LCL today presented its new real-estate master plan for the Paris metropolitan area (excluding the commercial network) to its Central Works Council.

This plan was drawn up with Crédit Agricole Immobilier as part of the 2008-2010 business plan, Crescendo 2. Optimum use will be made of LCL's administrative buildings in the area, with four aims :
1.Create a single site to house all executive management and head office functions, currently based in different locations throughout Paris
2.Return the prestigious Hôtel des Italiens, LCL's Paris headquarters, to its original commercial function
3.Streamline the geographic organisation of after-sales units throughout the area
4.Save 40 million euros per year in property-related costs as of 2011.