Measures undertaken at Dexia Bank Nederland

Financial impacts and guidance on the 3rd quarter and full year 2002 results.

As a result of the continued disappointing market developments and the negative publicity around equity leasing products in the Netherlands, the Executive Boards of the Dexia Group and of Dexia Bank Nederland (DBnl) have concluded that far-reaching measures are necessary in order to have the group pursue its activities in this country, whilst adapting them to the new environment.

These measures consist of splitting DBnl activities into two parts and reorganizing the retail unit, streamlining the organization and drastically reducing costs.

Splitting DBnl activities in two parts: one focussed on retail, and one focussed on asset management, equity brokerage and corporate finance.

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(source: Dexia SA)

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