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New Entity for Arval in Greece for Extended Coverage in the Mediterranean Region

Arval, the BNP Paribas company specialised in the Operational Leasing of multibrand corporate vehicles, has just taken over the management of ORAC (Option Rent A Car) – a subsidiary of BNP Paribas Hellas, dedicated to the Operational Leasing of upscale vehicles. This subsidiary will come under the Arval name in the near future.

Greece, with a population of 11 million and a fleet of over 5 million light vehicles, represents a significant country in Arval's strategy for European development. In this country, one-third of the corporate car fleet, totalling over 100 000 vehicles, already resorts to Operational Leasing.

In a highly scattered and competitive market, Arval aims to quickly become one of the leaders in its field, through a differentiated offer of services as well as opportunities linked to the presence of BNP Paribas on its territory. Furthermore, Arval will be in a position to meet the growing demand of its international customers on the Greek market, by ensuring a high service quality level.

Bruno ROUSSET, who has spent six years with Cetelem in Asia before joining Arval at the end of 2006, has been entrusted with the General Management of this new entity.

BNP Paribas has been present in Greece since 1982 and is ranked as one of the leading foreign banks in the country. The Group is active in the fields of CIB - Corporate and Investment Banking - (Energy Commodities Export and Project, Fixed Income, Structured Finance, Corporate Finance, Shipping Finance), Private Banking and Securities. BNP Paribas' activities also include subsidiaries such as BNP Paribas Lease Group (Equipment Solutions), UCI and CETELEM (Personal Finance).

About Arval
In 18 years, the Company has become an international role model in multibrand Operational Leasing and the management of corporate vehicles. Today Arval is present in 39 countries round the world. In 22 countries, this installation is represented by Arval structures and in 17 countries the Group relies on a partnership network. First Operational Leasing company on the French market, Arval was ranked second in Europe with over 500,000 financed vehicles and 623,000 vehicles managed, at the end of 2006. Arval is part of the “Equipment Solutions” business line within the IRFS (International Retail Banking and Financial Services) Division.

About BNP Paribas
BNP Paribas ( is a European leader in global banking and financial services and is one of the 5 strongest banks in the world according to Standard & Poor's. The group is present in over 85 countries, with 155,000 employees, including 123,000 in Europe. The group holds key positions in three major segments: Corporate and Investment Banking, Asset Management & Services and Retail Banking. Present throughout Europe in all of its business lines, the bank's two domestic markets in retail banking are France and Italy. BNP Paribas also has a significant presence in the United States and strong positions in Asia and the emerging markets.