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BNP's Board of Directors approved BNP's merger with Paribas

On 7 April 2000 BNP's Board of Directors, led by Chairman Michel Pébereau, approved BNP's merger with Paribas. The proposed merger will be submitted to the upcoming General Meeting of shareholders. The merger will enable BNP and Paribas to quickly combine their respective operations under one legal entity. The Board's proposal to change the group's name from BNP to BNP Paribas will also be brought before the General Meeting.

The Board also heard the Accounts Committee's report on its first assignment to select statutory auditors, who will be nominated by the General Meeting. A number of independent auditors was invited to submit proposals for the five-year period ending 2005. The Board was pleased with the high quality of proposals received, and adopted the Committee's recommendation to retain the following firms: Price Waterhouse, Barbier Frinault and others (Arthur Andersen), and Mazars & Guerard.

The Board decided to call on second invitation a General Meeting of shareholders for 23 May 2000 subsequent to the first one on 12 May 2000.