organizationAn innovation-focused

1973

France1989

ItalySpainBelgium

1991

UnitedKingdom

1994

Luxembourg1995

IrelandNetherlands

1996

CzechRepublicPoland Germany

1997

AustriaChileArgentinaSouth Africa

1998

PortugalSwedenTaiwan

Over 7,000 employeesin 42 countries

2

NORTH AMERICACanadaUnited States

LATIN AMERICAArgentinaBrazilChiliColombiaMexicoPeru

1999

USA2000

BrazilSlovakiaJapan

2001

IndiaSouthKorea

2002

HungaryThailand

2003

RussiaChina*

2004

Switzerland2005

Vietnam* Mexico

2006

PeruAlgeriaBulgariaRumania

2007

CanadaColumbiaCroatiaDenmarkNorwayTurkeyUkraine

3

EuropeAustriaBelgiumBulgariaCroatiaCzech RepublicDenmarkFranceGermany

HungaryIrelandItalyLuxembourgNorwayNetherlandsPolandPortugalSpain

RumaniaRussiaSlovakiaSwedenSwitzerlandTurkeyUkraineUnited Kingdom

AFRICAAlgeriaSouth Africa

ASIAChina*IndiaJapanSouth KoreaTaiwanThailandVietnam*

(*) Representative office.

4(*) Percentages of Direct and Indirect Shareholding.

Cardif Assurance Vie(100%*) with international branches

Cardif-Assurances Risques Divers(100%*) with international branches

International subsidiaries

Natio Assurance (50%*) with AXA

BNP PARIBAS ASSURANCE

LegalStructure

5

Main subsidiaries and branches outside France

EUROPEAustriaCardifBranches*

BelgiumCardif Leven 100%Branches*

BulgariaCardifBranches*

CroatiaCardif Osiguranje 100%

DenmarkBranches of Cardif Försäkring and of Cardif Livförsäkring

Czech RepublicCardif Pro Vita 100%

GermanyCardifBranches*

HungaryCardif Insurance Hungary 100%Cardif Life Insurance Hungary 100%

IrelandBranch of Pinnacle Insurance

ItalyCardif Assicurazioni 100%Centrovita 49% (51% Gruppo Banca CR Firenze)Branches*

LuxembourgInvestlife Luxembourg 67%(33% BNP Paribas Luxembourg)

NorwayBranches of Cardif Försäkring and of Cardif Livförsäkring

NetherlandsCardif Nederland Holding 100%Cardif LevensverzekeringenCardif Schadeverzekeringen

Poland**CardifBranchCardif Polska 100%Pte Pocztylion 33%(33% Poczta Polska, 33% Arka Invesco)Cardif ADM 100%PAUF 40% (60% Poczta Polska)

PortugalCardifBranches*

SpainCardifBranches*

RumaniaCardif Asigurari 100%

United KingdomCardif Pinnacle Insurance Holdings 99%Pinnacle InsuranceFinancial Telemarketing Services

RussiaCardif Insurance 100%

SlovakiaCardif Slovakia 100%

SwedenCardif Nordic 100%Cardif FörsäkringCardif Livförsäkring

SwitzerlandCardifBranches*

TurkeyCardif Hayat 100%Cardif Sigorta 100%

UkraineCardif Life 100%Cardif 100%

ASIAChina

Representative officesShanghai, Pékin, Hong Kong

IndiaSBI Life 26%(74% State Bank of India)

JapanCardifBranches*

South KoreaSH&C Life Insurance 50%(50% Shinhan Group)

TaiwanCardif Branches*

ThailandThai Cardif Life Assurance25% (50% Thai Life Group)

VietnamCardif Assurance VieRepresentative officesHanoi

AMERICASNorth AmericaCanadaBranches*Cardif Services 100%

United StatesCardif Holdings 100%Cardif Life InsuranceCardif Property & CasualtyCardif Services

AFRICAAlgeriaCardif El Djazaïr 100%

South AfricaCardif Pinnacle Insurance Holdings (1)

Pinnafrica LifePinnafrica Insurance

ColombiaCardif Colombia Seguros Generales 100%Cardif Colombia Servicios 100%

MexicoCardif Mexico Seguros de Vida 100%Cardif Mexico Generales 100%Cardif Servicios 100%

PeruCardif del Perú 100%Cardif Servicios 100%

*Branches of Cardif Assurance Vie & Cardif-Assurances Risques Divers. ** Branch of Cardif-Assurances Risques Divers.(1) Cardif Pinnacle Insurance Holdings Subsidiaries.

Latin AmericaArgentinaCardif Seguros 100%Cardif Servicios 100%

BrazilCardif do Brasil e Previdencia 100%Cardif do Brasil Seguros e Garantias 100%LuizaSeg 50% (50% Magazine Luiza)

ChiliCardif Vida 100%Cardif Generales 100%Cardif Servicios 100%Cardif Extensión de Garantía 100%

6

Audit

Frédérique Chambrion

IFAs Network

Roger Mainguy (1)

BDDF* Savings Investment & Advisory

Hervé Cazade (1)

Retirement Schemes& Protection

Fabrice Couturier

Protection BDDF*

Dominique Roucher de Roux (1)

Savings Partnerships

Alban Le Maire

Markets & Products

Laurence Benoît-Hontarrède (1)

Public AffairsHigh Networth Private

Customers

Jean-Michel Buguet

Employees retirement Savings Plans**

Jean-Marc de Courson

Patrimoine Management et Associés

André Camo

Coordination BusinessAnalysts

Bertrand Claverie

Home and care services

Bruno Leresche

IFAs Network & Partners

Stanislas Chevalet (1) Virginie Korniloff (1)

BNP Paribas Network

FRANCE

Business Risk Management& Compliance

Jean-François Bourdeaux (1)

Legal & Tax affairs

Odile Boitte (1)

INTERNATIONAL

Renaud Dumora (1)

Latin AmericaMichel Dubernet

AsiaVincent Pacaud

Ukraine, RussiaPhilippe Allemand

Middle East, AfricaPaul Younès

Jean-Bertrand Laroche (1)

Head Office Coordination

Guylaine Dyèvre (1)

Éric Lombard (1)

Pierre de Villeneuve (1)

Northern EuropeNorthern AmericaOlivier Cortès

Southern EuropeIsabella Fumagalli

British IslandsSouth AfricaPaul Glen

Central EuropeXavier Guilmineau

OrganizationChart

Vincent Sussfeld

7

Global Savings

Jean Proust (1)

Savings Asia

Denis Wallerich

Marketing & Development

Pascal Perrier

Finance & Actuarial Affairs

Didier Féderlé

India

Pier Paolo Dipaola

Global Partnerships

Chris Schwick

Protection

Jean Orgonasi (1)

Actuarial Affairs

Jacques Faveyrol

Finances & Reinsurance

Rémi Esclattier

Marketing & Development

Chris Murphy

Corporate Secretary

Michel Piano (1)

Human Resources

Marie-Christine Barjolin (1)

Corporate Communication

Laurence Pessez (1)

Corporate Social Responsibility

Laurence Pessez (1)

Jean Bégo (1)

Opérations & IS

Information & Systems

Philippe Renault (1)

Back Office Savings & Corporate

Vincent Duret

Organisation & Quality

Éric Le Corre

IS Project individualSavings France

Financial Back Office

Josette Varlet

Charlotte Dennery (1)

Finance

Mergers Acquisitions & EEV

Dominique Barthalon (1)

Accounting

Bernard Bolle-ReddatMurielle Puron Chambord

IT Business Analyst(finance)

Dominique Reghem

Planning & Controls

Florence Le Got

Asset Management

Olivier Héreil (1)

Back office Protection

Claire Creuzot

International Operations

Pascal Confavreux (1)

Development & Strategy

Gérard Binet (1)

Boldfaced names are members of the Executive Committee.(1) Members of the General Management Committee and/or members of the International Strategy Committee.(*) BDDF: French Retail Banking.(**) With BNP Paribas Asset Management.

Anne Cavalière

Innovation & KnowledgeManagement

Ian Poinsenet

8

Olivier Cortès

IsabellaFumagalli

BelgiumOlivier SansonChaussée de Mons, 14241070 AnderlechtTel.: + 32 2 528 00 00Fax: + 32 2 528 00 01

NetherlandsCees de JongHoevestein 284903 SC OosterhoutTel.: + 31 162 486 000Fax: + 31 162 486 001

GuyMeyskens

DenmarkJan PedersenMölndalsvägen 93Box 24110400 22 GöteborgTel.: + 45 31 22 43 89

NorwayKarin SmithFornebuveien 71366 LysakerTel.: + 47 934 01 798Fax: + 47 22 82 95 17

SwedenJan De GeerMölndalsvägen 93 Second Flor400 22 GöteborgTel.: + 46 0 31 70 798 70 Fax: + 46 0 31 70 798 79

Fabrizio FalsettiCENTROVITA*Via Ricasoli, 950122 FlorenceTel.: + 39 055 277 691Fax: + 39 055 210 597

Isabella FumagalliLargo Toscanini, 1(Angolo Piazza San Babila) – 20122 MilanTel.: + 39 02 77 22 41Fax: + 39 02 77 22 42 66

Filippo NobileLargo Toscanini, 1(Angolo Piazza San Babila) – 20122 MilanTel.: + 39 02 77 22 41Fax: + 39 02 77 22 42 66

Ana IvancicIvana Lucica 2A10 000 ZagrebTel.: + 385 1 5393 100Fax: + 385 1 5393 111

PortugalMiguel RibeiroAv. 5 de OutubroN°206 – 6° Piso1050-065 LisbonneTel.: + 351 21 382 55 40Fax: + 351 21 382 55 44

AntoineLecomte

Ignacio Sainz de Medrano

Belgium, Netherlands

Fabrice Bagne33 rue de GasperichBP 691L-2016 LuxembourgTel.: + 352 26 21 41Fax: + 352 26 214 9371

Luxembourg

Manny MillorCardif Holdings, Inc.14000 SW 119th Av.Suite 207Miami, FL 33186Tel.: + 1 305 234 1771Fax: + 1 305 234 1774

USA

Manny Millor36 York Mills RoadSuite 500P.O. Box 300Toronto ON – M2P 2E9Tel.: + 14 16 2253800Fax: + 14 16 2256512

Canada

Denmark,Norway,Sweden

Southern Europe

Northern Europe and Northern America

Italy Spain, Portugal

Croatia

InternationalOperations

François Gazel Anthoine

SpainIgnacio Sainz de MedranoC/Julián Camarillo21A – 4° Planta28037 MadridTel.: + 34 91 590 30 01Fax: + 34 91 590 30 07

9

Lothar Huber

Germany,Austria,Switzerland

Central Europe

Renaud Dumora

Benjamin KallayKorhaz u. 6-12H – 1033 BudapestTel.: + 36 1 430 2300Fax: + 36 1 430 2301

Zdenek JarosNa RybnièckuCenter 1329/5120 00 Prague 2Tel.: + 420 2 96 368 888Fax: + 421 2 96 368 880

Mario Kostov2 Tzar Osvoboditel Blvd Sofia, 1000Tél. : + 359 2 921 85 39Fax: + 359 2 921 86 25

Jan Eymeryk RosciszewskiUI. Nowogrodzka, 1100-513 VarsovieTel.: + 48 22 529 01 23Fax: + 48 22 529 01 11

GermanyDavid FurtwänglerFriolzheimer Strasse 6D-70499 StuttgartTel.: + 49 7 11 8 20 55-0Fax: + 49 7 11 8 20 55-499

Paul GlenPinnacle HouseA1, Barnet WayBorehamwoodHertfordshire WD6 2XXTel.: + 44 208 207 90 00Fax: + 44 208 953 62 22

United Kingdom

Willem LombaardCurzon PlaceTurnberry Office Park48 Grosvenor RoadBryanston – 2021Tel.: + 27 11 244 13 00Fax: + 27 11 244 13 01

South Africa

Poland

Hungary

Czech Republic

Bulgaria

Rumania

5, George DockIFSC Dublin 1Tel.: + 35 3 1 612 53 80Fax: + 35 3 1 612 53 83

Ireland

Xavier Guilmineau

Paul Glen

AustriaWolfgang TroedhahnRotenturmstrasse 16-18A-1010 VienneTel.: + 43 1 533 98 78Fax: + 43 1 533 98 78 40

Peter DudakBratislava Business Centrum VPlynarendska 7/C821 09 BratislavaTel.: + 421 2 58 24 00 11Fax: + 421 1 58 24 00 19

SuisseRaffael MaianiSeehof Strasse 6Postfach CH – 8024 ZürichTél. : + 41 43 268 82 10Fax : + 41 43 268 82 20

Slovakia

British Islands and South Africa

Europe and North America

Carmen BahrimBulevardul Dacia 153-1552nd DistrikBucarestTel.: + 40 31 226 1111Fax: + 40 31 226 1100

■ * Joint Ventures Insurance Companies.

10

Gustavo CicinelliAv. Alicia Moreau de Justo170 Piso 3 – 1107 Capital FederalBuenos AiresTel.: + 54 1 14 316 42 00Fax: + 54 1 14 316 42 41

Benjamin QuijandriaAvenida Canaval y Moreyra380 Piso 1101San Isidro – Lima, 27Tel.: + 511 615 1700Fax: + 511 615 1721

Claudio OrellanaPaseo de las Palmas 425Piso 5 - Lomas de Chapultepec11000 Mexique, D.F.Tel.: + 52 55 22 82 20 00Fax: + 52 55 22 82 20 01

Jorge HernandezWorld Trade CenterCalle 100 No 8A-55 Torre CPiso 10 – BogotáTel.: + 571 6386452Fax: + 571 6211565

Francisco ValenzuelaVitacura 2670. Piso 14Las CondesSantiagoTel : + 56 2 370 48 00Fax: + 56 2 370 48 77

Michel Dubernet

Latin America

Chile

Argentina Columbia

Mexico

Peru

Alexandre BocciaRua Campos Bicudo 984° andar04536-010 São Paulo – SPTel.: + 55 11 3089 1100Fax: + 55 11 3089 1177

Luis Felipe CozacLUIZASEG*Rua Campos Bicudo, 984° andar04536-010 São Paulo – SPTel.: + 55 11 3089 1103Fax: + 55 11 3089 1176

Brazil

Ukraine

Oleg Romanenko8, Illinska Str.KievTel.: + 38 044 428 61 61

Konstantin Kozlovul. Timiryazevskaya 1,Moscow, 127422Tel.: + 7 495 661 44 85Fax: + 7 495 661 44 87

Ukraine/Russia

Philippe Allemand

Russia

11

Ping HuangRm 1105 11F North TowerShanghai Stock ExchangeBuilding n°528 - Pudong Road (s)Shanghai 200122Tel.: + 86 21 6880 85 80Fax: + 86 21 6880 01 66

Hervé GiraudonSH&C*Seoul City Tower Bldg - 4th Floor581 Namdaemunro 5-gaJung-gu, Séoul 100 083Tel.: + 822 37 88 88 07Fax: + 822 37 88 88 08

Ben Ng18th FloorNo 270, Chung Hsiao E.RdSec. 4 – 106, TaipeiTel.: + 886 2 6636 3456Fax: + 886 2 6636 3457

Visidh TangkanangnukulTHAI CARDIF LIFE ASSURANCE CO*36/11, 36/59-62 PS Tower G and 18th FloorSukhumvit 21 Road North-Klongtoey WattanaBangkok 10110Tel : + 66 0 2645 8500Fax: + 66 0 2645 8585

Michel DiennardOpera Business Centre8th Floor, suite 80260 Ly Thai To StreetHanoi – VietnamTel.: + 84 4 825 99 09Fax: + 84 4 825 97 84

Jun Aoki9th Floor Infoss Tower20-1 Sakuragaoka-cho,Shibuya-ku – Tokyo 150-0031Tel.: + 81 3 6415 6340Fax: + 81 3 6415 6346

Yilmaz YildizAskerocagi Caddesi Suzer Plaza Kat: 15Elmadag 34367Sisli – IstanbulTél.: + 90 212 292 73 00

François-Xavier HussenotRésidence ZamounRue du 11 décembre 196016606 AlgerTel.: + 213 017 06 20 07Fax: + 213 017 06 20 11

■ * Joint Ventures Insurance Companies

Vincent Pacaud

Paul Younès

SBI Life*2nd Floor Turner Morrison BuildingG.N. Vaidya Marg.Fort Mumbai 400 023Tel.: + 91 22 56 39 20 11Fax: + 91 22 56 39 20 12

Pier Paolo Dipaola US Roy

Asia

Middle East and Africa

China

South Korea

VietnamJapan

Taiwan

Thailand

TurkeyAlgeria

Jean-Bertrand LarocheLatin America, Asia, and Emerging markets

India

CENTRAL-EASTERN FRANCEREGIONAL OFFICESChristophe Vanhuyse

AnnecyCentre Atria1, avenue Berthollet74000 AnnecyTel.: 04 50 45 49 48Fax: 04 50 45 44 73

DijonThierry Roux19, rue du ChâteauBP 3119521011 Dijon CedexTel.: 03 80 44 16 80Fax: 03 80 50 11 45

GrenobleGeorges Ferrandez2, rue Vauban38031 Grenoble Cedex 1Tel.: 04 76 86 38 80Fax: 04 76 86 38 81

LyonMichel Pertet5, place Kléber69006 LyonTel.: 04 72 74 18 18Fax: 04 72 74 18 20

NORTHEAST FRANCEREGIONAL OFFICESÉmile Moreau

LilleOlivier Ledrole60, rue NationaleBP 47559021 Lille CedexTel.: 03 20 15 12 56Fax: 03 20 74 80 18

Nancy34, rue Stanislas54042 Nancy CedexTel.: 03 83 36 31 20Fax: 03 83 36 31 29

Reims2, rue CarnotBP 28051060 Reims CedexTel.: 03 26 04 79 70Fax: 03 26 04 79 75

Rouen47, rue des Fossés-Louis-VIII76012 Rouen CedexTel.: 02 32 76 06 26Fax: 02 32 76 06 33

StrasbourgÉmile Moreau20, place de BroglieBP 1000467083 Strasbourg CedexTel.: 03 88 52 15 00Fax: 03 88 25 12 63

WESTERN FRANCEREGIONAL OFFICESLucien Le Borgne

Brest4, place de la Liberté29200 BrestTel.: 02 98 46 57 58Fax: 02 98 44 13 50

La Rochelle22, rue de l’Ouvrage-à-CornesBP 8717004 La Rochelle Cedex 1Tel.: 05 46 41 31 82Fax: 05 46 41 07 89

Le MansFrancis SionneauNovaxis 22, allée des Gémeaux72019 Le Mans CedexTel.: 02 43 57 72 80Fax: 02 43 28 97 48

NantesPierre Orval2 ter, place GraslinBP 3121644012 Nantes Cedex 1Tel.: 02 51 84 98 20Fax: 02 40 69 24 80

RennesJean-Marie Bohler9, place du Parlement de BretagneCS 9642635064 Rennes CedexTel.: 02 99 78 57 00Fax: 02 99 79 76 13

Tours15, bd BérangerBP 2142737014 Tours Cedex 1Tel.: 02 47 64 20 25Fax: 02 47 61 14 49

GREATER PARISREGIONAL OFFICESMarianne Granger41, av. de FriedlandBP 36675367 Paris Cedex 08Tel.: 01 53 53 88 88Fax: 01 53 53 88 99

SOUTHEAST FRANCEREGIONAL OFFICESFranck Jaillet

MarseilleFranck Jaillet24, cours Pierre-Puget13291 Marseille Cedex 06Tel.: 04 96 11 30 00Fax: 04 96 11 30 01

MontpellierRoger Clavel9, bd Sarrail34061 Montpellier Cedex 02Tel.: 04 67 60 06 60Fax: 04 67 60 06 67

NiceGilles Fraselle45, promenade des Anglais06045 Nice Cedex 1Tel.: 04 92 15 23 50Fax: 04 92 15 23 60

SOUTHWEST FRANCEREGIONAL OFFICESAlain Langaud

BayonneJean-Jacques Mailharro28, rue Lormand64105 Bayonne CedexTel.: 05 59 59 74 93Fax: 05 59 25 52 36

BordeauxChristine Grisel Lagleyze34, allée d’OrléansBP 56133005 Bordeaux CedexTel.: 05 56 79 89 89Fax: 05 56 79 89 87

Limoges49, avenue GaribaldiLe Concorde87000 LimogesTel.: 05 55 12 13 80Fax: 05 55 12 13 81

ToulouseBertrand de Courrèges d’Agnos6, place du Président-WilsonBP 60431001 Toulouse CedexTel.: 05 62 30 17 00Fax: 05 62 30 17 01

FRENCH OVERSEAS DEPARTMENTS AND TERRITORIESBernard Le Rol

Cardif Networkin France

Roger Mainguy