On 24 February 2009, during the meeting of CNP Assurances' Board of Directors, the director representing Caisse Nationale des Caisses d’Epargne (CNCE) informed the Company that the CNCE had decided to transfer its CNP Assurances’ shares to the new central body of the merged Caisses d'Epargne and Banques Populaires groups.

 

Noting that the two banking groups viewed the stake in CNP Assurances as a long-term strategic asset and that they had no intention of selling it, he stated that the transfer of the shares to the new central body would in no way alter the contractual relationship between the Savings Banks and CNP Assurances, or the balance of shareholders' interests in CNP Assurances' capital. These commitments were confirmed by CNCE in a letter to Edmond Alphandéry, Chairman of CNP Assurances' Board of Directors, on 25 February.

 

Consequently, CNP Assurances has noted that the transfer of CNCE's stake in the Company to the new central body will not call into question either the existing agreement between its shareholders or the marketing partnership with the Savings Banks network, which will both continue unchanged at least until 31 December 2015.

 

CNP Assurances has good reason to believe that the planned transfer will preserve the long-term nature of Caisses d'Epargne Group's stake in the Company in the same way as if the shares had been allocated among the 17 regional Savings Banks, in line with the earlier plan announced by CNCE at the meeting of CNP Assurances' Board on 16 December 2008.

 

 Press Relations
Sophie Messager
Tel : +33 (0)1 42 18 86 51
E-mail : servicepresse@cnp.fr

Investor and Analyst Relations
Jim Root

Disclaimer

Some of the statements contained in this press release may be forward-looking statements referring to projections, future events, trends or objectives which, by their very nature, involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated in such statements by reason of factors such as changes in general economic conditions and conditions in the financial markets, legal or regulatory decisions or changes, changes in the frequency and amount of insured claims, particularly as a result of changes in mortality and morbidity rates, changes in surrender rates, interest rates, foreign exchange rates, the competitive environment, the policies of foreign central banks or governments, legal proceedings, the effects of acquisitions and the integration of newly-acquired businesses, and general factors affecting competition.

Further information regarding factors which may cause results to differ materially from those projected in forward looking statements is included in CNP Assurances’ filings with the Autorité des Marchés Financiers. CNP Assurances does not undertake to update any forward-looking statements presented herein to take into account any new information, future event or other factors.