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Socit Gnrale Exercises its Call Option onRosbank

Following the acquisition of 20% less one share inRosbank for $634 mln, and after having received all the necessary regulatory approvals from the Central Bank of Russia and the Federal Antimonopoly Service, Société Générale has decided toexercise its call option on Rosbank atthe price of$1,700mln. Société Générale will thereby increase its stake to50% + 1share bymid-February 2008hence taking control ofRosbank.

The exercise ofthe option will trigger amandatory offer tocurrent minority shareholders which will lead tothe increase of Société Généralesstake in Rosbank upto 57.8% bythe end of 1st half 2008. The total price for a 57.8% stake inRosbank should amount to$2,775mln.The Group intends tocontinue its successful relationship with Interros which should remain asignificant minority shareholder ofRosbank inthe medium term.

Société Générale acquired first 10% stake inJune 2006for $317mln; in September 2006, SocGen acquired further 10%- 1share for $317mln with the option tobuy 30% of Rosbank for $1.7bln.

Vladimir Potanin and Michael Prokhorov controlled jointly a34.5% stake in Rosbank with 11.03% owned byminority shareholders.