Patrice Blanc appointed Chairman & CEO of Fimat Group

Paris, France 15 July, 2002 – The Fimat Group, one of the world's leading global brokerage organizations and part of Société Générale Group, announced today that Patrice Blanc has been appointed head of Fimat Group following Marc Breillout's nomination as Chief Operating Officer of SG, the corporate and investment banking arm of the Société Générale Group.

In his new responsibilities, Marc Breillout will continue to over see the Fimat Group as he will also be responsible for the supervision of Fimat, FIMATEX, Portfolio Management and the support functions.

Patrice Blanc's new appointment is scheduled to take effect in mid-September 2002. He is currently Chairman & President of Fimat USA Inc.

"Patrice has exhibited brilliant success as Chairman & President of Fimat USA, increasing the company's profitability and marketshare in North America. His expertise and knowledge of the markets are key to ensure the strategic development of our Group,'' said Fimat Group Chairman & CEO, Marc Breillout.

Patrice Blanc is a graduate of the Ecole Supérieure de Commerce Extérieur and an 18-year veteran in the futures industry. He joined Fimat in 1989 as Front Office Manager of the Parisian desk, then became Deputy General Manager of the entity in 1991. In July 1994, he was responsible for establishing a Fimat office in Brazil and he was appointed General Manager of that office in January 1995. In 1997, Mr. Blanc joined Fimat USA as General Manager, based in New York, and was named Chairman & President of Fimat USA Inc., in July 2000.

Alain Bozzi, Vice-Chairman Fimat Group and Head of the European zone since November 2001, will continue as second in command of the Fimat Group's global operations. Mr. Bozzi joined Fimat in 1995 as Financial Director of Fimat International Banque and was promoted General Manager of the entity in 1997.

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