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BNP Paribas establishes a new global function dedicated to Compliance

BNP Paribas continuously strives for the highest standards in ethics, risk control and internal auditing. In the face of changes in the banking environment and the regulators' increasingly stringent requirements in these areas, the Group has decided to establish a new global function of Compliance, its Head reporting directly to the Chief Executive Officer and having a broad remit over the entire Group.

The Head of Compliance will be responsible for:

- Supervision of the consistency and efficiency of actions undertaken with regard to ethical rules, and more broadly, with regard to the legislative and regulatory provisions specific to banking and finance activities. He will be directly in charge of the Ethics function and actions designed to combat money laundering and corruption; he will also have functional authority over Group Legal Affairs for everything connected with control and compliance missions.

- Direction and coordination of internal control set up throughout the Group and he will chair a monthly committee composed of the Inspector General, and the Group managers in charge of Risk, Fiscal Affairs, Legal Affairs, Ethics, and Finance and Development. He will produce the report on internal control and Compliance.

Vivien Lévy-Garboua, has been appointed Head of the new Compliance function commencing 3 January 2005. Aged 58, in charge of BNP Paribas Asset Management and Services core business since the merger after being co-head of BFI at BNP, he has exceptional experience of the Group's international businesses which will be particularly valuable in this position. In this new capacity, Vivien Lévy-Garboua will continue to be a member of the Executive Committee of BNP Paribas.

Alain Papiasse, 49, joins the BNP Paribas Group and succeeds Vivien Lévy-Garboua as Head of the Asset Management and Services core business. He will sit on the Executive Committee of BNP Paribas. As Senior Vice President of Crédit Lyonnais, Alain Papiasse played an important role in the bank's recovery from the second half of the 1990s. In particular, he directed the subsidiary Crédit Lyonnais Asset Management from 1998 to 2000 and then was Chief Operating Officer of Calyon.

Alain Moynot, 59, who has directed and consolidated the global Ethics and Compliance function since 2002, has been appointed as Adviser to General Management. With his long experience of Retail Banking activities, Alain Moynot will specifically be in charge of coordinating the Group's relations with the European authorities and of competition matters. He will also be in charge of BNP Paribas' contribution to the works of banking industry on payment systems.