Private Bank Press conferenceMay 11, Brussels 1 François DEBIESSE

Private Bank Press conferenceMay 11, Brussels 2 Source : Merrill Lynch / Gemini Consulting World Wealth Report 2000 (estimated world-wide HNW financial assets, in USD trillion) (E) +12% p.a. Increasing share of financial assets in the households’ wealth Boom in entrepreneurial wealth Growing use of corporate equity as part of executive compensation Overall market appreciation TREMENDOUS MARKET OPPORTUNITY

Private Bank Press conferenceMay 11, Brussels 3 STILL FRAGMENTED INDUSTRY (Top ten private banks world-wide as of end of 2000) EUR 2.3 trillion in AuM ~ 8% market share Top 10 Private Banks BNP Paribas PB HSBC Bank of America PB Merrill Lynch IPC Citigroup PB Deutsche Bank J.P. Morgan PB UBS PB Credit Suisse PB Goldman Sachs PWM

Private Bank Press conferenceMay 11, Brussels 4 INCREASING COMPETITION Merger of HNW Brokerage and Asset Management Groups to form Goldman Sachs Private Wealth Management Fortis to pursue its business development in Continental Europe Bank of America targeting private banking as a priority business Launch of NatWest Private Banking Deutsche Bank targeting to be in the top 3 private banks world-wide Citigroup Private Bank entering into cross-selling initiatives with Salomon Smith Barney ING committed to increase private banking positions through vigorous organic growth UBS to lever PaineWebber’s expertise and on-line technology in the European on-shore markets Credit Suisse to implement new business model for affluent clients in Europe Creation of Merrill Lynch Private Wealth Services to deliver institutional-quality solutions to its wealthiest clients and their families SG Private Banking targeting to expand its reach in Europe and Asia Acquisition of US Trust by Schwab Sanford Bernstein acquired by Alliance Capital (AXA)

Private Bank Press conferenceMay 11, Brussels 5 BNP PARIBAS Merger of BNP and Paribas in May 2000 Rapid integration with synergies ahead of schedule Strong increase in profitability in recent years with a net profit of: EUR 2.1 MM in EUR 3.3 MM in EUR 4.1 MM in 2000 Organization in three core businesses: Corporate and Investment Banking Wealth Management Retail Banking 1 Pro forma BNP Paribas before restructuring provisions

Private Bank Press conferenceMay 11, Brussels 6 A KEY PLAYER IN THE PRIVATE BANKING INDUSTRY Long-standing tradition and reputation in serving the wealth management needs of high-net-worth individuals Top 10 world-wide in private banking Undisputed leader in France Strong positions in all major international private banking centers in Europe and Asia Investments in the most attractive markets Presence in 30 countries 3’000 dedicated staff EUR 108 MM in client assets Data as of end of March, 2001

Private Bank Press conferenceMay 11, Brussels 7 COMPREHENSIVE OFFERING Investment Funds Advisory Desk Securities Advisory Desk Structured & Derivative Products Cash and Deposit Management CustodyCreditFiduciary Services Real Estate Advisory Art Advisory Property Advisory Client Private Banker Discretionary Management Corporate Advisory Execution Desk Tax and Estate Planning Financial Offering Wealth Management Offering

Private Bank Press conferenceMay 11, Brussels 8 ADVICE-DRIVEN OFFERING Architecture open to the best products available in the market World-wide organization by product / service category Local adaptation of the offering to client profile, needs, and culture Aggregation and coordination of a broad offering allowing to provide products and services adapted to the diverse financial and wealth management needs of high-net-worth individuals

Private Bank Press conferenceMay 11, Brussels 9 AMBITIOUS BUSINESS DEVELOPMENT STRATEGY To be a reference in our target markets Pursue the development of marketing capabilities Preserve a reputation for innovation and adaptation regarding the product and service offering Ensure strong visibility and credibility in our target markets Pursue investments in IT and systems to ensure state-of-the-art client service and operations

Private Bank Press conferenceMay 11, Brussels 10 INCREASING PRESENCE IN THE EUROPEAN ONSHORE MARKET Leader in France Significant positions in Southern Europe (Italy, Spain, Greece, Portugal) Launch of Belgian operations Will to become a reference in each selected market

Private Bank Press conferenceMay 11, Brussels 11 STRONG COMMITMENT IN BELGIUM Acknowledged expertise of BNP Paribas in onshore private banking Accurate knowledge of Belgium and Belgian high-net-worth individuals Core operation in the business development strategy of the Private Bank Will to quickly become a key private bank in the Belgian market

Private Bank Press conferenceMay 11, Brussels 12 BNP Paribas Private Bank Lode De Vrieze

Private Bank Press conferenceMay 11, Brussels 13 May 2000 Merger of BNP and Paribas Paribas in Belgium since start in 1872 BNP in Belgium from 1911

Private Bank Press conferenceMay 11, Brussels 14 Top 10 of the world Leader in France Important player in Europe and Asia Will to become a reference in Private Banking Start-up in Belgium

Private Bank Press conferenceMay 11, Brussels 15 BNP Paribas Private Bank Belgium Organization Target Offer ing

Private Bank Press conferenceMay 11, Brussels 16 Organization

Private Bank Press conferenceMay 11, Brussels 17 BNP Paribas Private Bank Belgium Situated in Brussels, 489 Avenue Louise Team of 20 people, mainly portfoliomanagers and specialists in wealth-engineering Aim to open rep-offices in main cities : Antwerp, Kortrijk, Gent or Liège

Private Bank Press conferenceMay 11, Brussels 18 Target

Private Bank Press conferenceMay 11, Brussels 19 BNP Paribas Private Bank Belgium Target People with an important fortune, high-net-worth individuals : ~stockholders of family-owned companies (quoted or not) ~holders of important stock-options ~family-holdings with important free assets...

Private Bank Press conferenceMay 11, Brussels 20 COMPREHENSIVE OFFERING Investment Funds Advisory Desk Securities Advisory Desk Structured & Derivative Products Cash and Deposit Management CustodyCreditFiduciary Services Real Estate Advisory Art Advisory Property Advisory Client Private Banker Discretionary Management Corporate Advisory Execution Desk Tax and Estate Planning Financial Offering Wealth Management Offering

Private Bank Press conferenceMay 11, Brussels 21 Financial offering

Private Bank Press conferenceMay 11, Brussels 22 What’s important for a HNWI in his relation to his Private Banker ? PerformanceAdviceAdapted offer Source : Enquête VIP Forum 66% 53% 45%

Private Bank Press conferenceMay 11, Brussels 23 Well-structured investment process (Asset-allocation) Research «Buy-side» by dedicated team of analysts Market-specialists in 15 countries Direct access to markets by dedicated execution-teams Performance

Private Bank Press conferenceMay 11, Brussels 24 What’s important for a HNWI in his relation to his Private Banker ? PerformanceAdviceAdapted offer Source : Enquête VIP Forum 66% 53% 45%

Private Bank Press conferenceMay 11, Brussels 25 Focus on Advice Advice on products (funds, structured products) Advice on securities (stocks, bonds, derivatives, FX) Discretionary management (risk-profile, personalisation) Credit Advice on Asset-allocation Execution All Markets/All Products

Private Bank Press conferenceMay 11, Brussels 26 What’s important for a HNWI in his relation to his Private Banker ? PerformanceAdviceAdapted offer Source : Enquête VIP Forum 66% 53% 45%

Private Bank Press conferenceMay 11, Brussels 27 A large offer of mutual funds Selection of best funds of the market EUR 1 bn under management Parvest (76 compartments ) French & international funds Advice on funds Private Bank Multi-Management BNP PAM Funds BNP PAM Offer of alternative fund (hedgefunds, private equity funds)

Private Bank Press conferenceMay 11, Brussels 28 Structured Products, Derivatives : optimisation, diversification and hedging Hedging of the portfolio Structuring and selection of products by Private Bank Warrants, certificates Complex strategies Personalized strategies and constructions Structured Products Access to listed and quoted products Guaranteed funds

Private Bank Press conferenceMay 11, Brussels 29 Wealth Management Offering Damien LAHY

Private Bank Press conferenceMay 11, Brussels 30 Wealth Management To listen To analyse To advice To accompany

Private Bank Press conferenceMay 11, Brussels 31 Components of the wealth management offering –Wealth and estate planning –Art advisory –Real estate advisory –Property advisory –Corporate advisory –Reception service

Private Bank Press conferenceMay 11, Brussels 32 Wealth and Estate Planning Personalized diagnosis on estate and family issues Trust-driven relationships, over several generations Coordination with external advisors (lawyers,…)

Private Bank Press conferenceMay 11, Brussels 33 Art Advisory –Advice, authentication and valuation assistance –Legal and tax issues –Transactions

Private Bank Press conferenceMay 11, Brussels 34 Real Estate Advisory –Specialization in up-market residences –Synergies with the Group’ s specialized subsidiaries

Private Bank Press conferenceMay 11, Brussels 35 Corporate Advisory –Synergies with the Group’s Corporate Finance business unit

Private Bank Press conferenceMay 11, Brussels 36 Reception service –Setting up in new cities or countries : assistance –« Golden keys »: schools, accommodation, legal assistance,… –The Group ’s world-wide network at the client ’s disposal

Private Bank Press conferenceMay 11, Brussels 37 Our strenghts –Family office-concept –Important international Group –Need of our customer = Our offer Performance Advice Financial and Wealth management offering