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BNP Paribas Asset Management establishes an Executive Committee

Gilles Glicenstein, Chairman of BNP Paribas Asset Management since last June, will be assisted by an Executive Committee comprising five members. The committee will pursue and accelerate the strategy initiated by the company over the last few years, based on specialisation of its investment teams and integration of open architecture into its distribution model.

The committee, chaired by Gilles Glicenstein, comprises:

- Pascal Biville, Chief Operating Officer, Head of the Finance, Operations, Human Resources and IT Services Department;
- Vincent Camerlynck, Head of Business Development;
- Philippe Lespinard, Chief Investment Officer, Head of Fundamental Active Investments;
- Philippe Marchessaux, Head of Private Investment, Multimanagement and Marketing;
- Chantal Mazzacurati, Head of Alternative, Structured and Indexed Investments.

Pascal Biville, 42 years of age, joined BNP PAM in August 2005; previously he was Secretary General of Crédit Lyonnais Americas in New York, now Calyon Americas after the merger of the investment banking units of Crédit Lyonnais and Crédit Agricole Indosuez. Prior to that he was Finance Director of Crédit Lyonnais Asset Management (until 2002), Head of financial engineering and planning for the Consortium de Réalisation group (until 1999) and in charge of investments within the Secretariat General of Crédit Foncier de France, having begun his career in the mergers and acquisitions department of Banque Louis-Dreyfus.

Vincent Camerlynck, 44 years of age, joined BNP PAM in August 2005; prior to that he had worked for Goldman Sachs as co-head of the equity group in France (since 2002) and was appointed Managing Director in 2004. From 1990 to 1998, he worked in London for HSBC Investment Bank in charge of the international distribution of European equities. From 1987 to 1990, he worked in New York as the representative of the Belgian investment bank Petercam.

Philippe Lespinard, 41 years of age, joined BNP PAM in 2002; since 1998, he worked in London for Citigroup Asset Management where he was co-head of global bond investments (since 1998) and investment manager for Europe (since 2000). Previously, he had occupied positions as senior portfolio manager and associate with Fischer Francis Trees & Watts (FFTW), a US bond investment specialist, now a subsidiary of BNP Paribas Asset Management. He joined FFTW in 1992 after previously occupying the position of investment manager at the head office of the World Bank in Washington.

Philippe Marchessaux, 42 years of age; he has been head of private client investment management for BNP Paribas in France since 2002. Previously, he was in charge of BNP Paribas' multi-management project (2000-2002), having headed up European equity investments from 1997 to 2000. From 1993 to 1997, he was manager of institutional investment and employee savings, having occupied positions as equity & bond manager since he joined BNP Paribas in 1987.

Chantal Mazzacurati, 55 years of age, joined the BNP Paribas Group in 1973 and has spent her entire career in the group. She joined BNP PAM in June 2005. She has exercised various positions within the Finance Department, including head of Financial Affairs (Equity Capital Markets). In 1995, she assumed responsibility for global equities within within the Corporate and Investment Banking (CIB) Division.
Chantal Mazzacurati is also in charge of financial communications and investor relations within the Asset Management & Services Department (AMS) and is a member of the AMS executive committee.

BNP Paribas Asset Management is a major player in fund investment and marketing in Europe with €226 billion in assets under management and advisory as of 30 June 2006. More than 1,300 staff work in the assets management business in approximately 20 countries. BNP PAM's management teams are present in the major world financial centres, including Paris, London, New York, Tokyo and Hong Kong. The teams are specialised in major asset classes, investment styles and geographic zones.