19 March 2008 Paris

 BNP Paribas issued the following press release confirming it had no intention to tie up with Societe Generale.

 Given the persistent rumours, BNP Paribas clarifies that it has ceased to consider a potential tie up with Societe Generale. It believes that the conditions, which would have allowed it to realise a shareholder value creating merger, are not met. In the current environment, BNP Paribas' priority is to recognise and play to its strengths: stringent risk management, solid financial structure, commercial efficiency, diversification of revenue sources. The Group is well positioned to continue its development by combining its expertise in Retail Banking (over 50% of the Groups revenues), Corporate and Investment Banking (28%) and Asset Management and Services (18%). In the current market conditions with many banks; activity constrained, BNP Paribas with its strong capital position is well placed to continue to support its customers and economic development.

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