10 October 2011

ABBL: The Belgian, French and Luxembourg states provide strong support to Dexia in the implementation of the restructuring plan

The Board of Directors:

• considered that in the current circumstances it was in the social interest of Dexia SA and its subsidiaries to accept the offer submitted from the Belgian state for the acquisition of 100 per cent of the shares of Dexia SA in its subsidiary, Dexia Bank Belgium, and instructed the Group management to handle the consequences of the disposal in the interests of its clients, staff members of the Group and shareholders;
• approved Dexia’s participation in the funding guarantee mechanism decided by the Belgian, French and Luxembourg states in the amount of maximum €90 billion for Dexia SA and its subsidiary, Dexia Crédit Local;
• instructed the CEO to enter into exclusive negotiations with the Caisse des Dépôts et Consignations and La Banque Postale with a view to the conclusion of an agreement relating to the French local public finance sector;
• was informed of the progress made in the exclusive discussions with the group of international investors, including the Luxembourg state, interested in the acquisition of Dexia Banque Internationale à Luxembourg, as announced on 6 October 2011.

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