Fimat Names Van der Sheer Managing Director of the Asian Zone

Additional Management Changes in Asia and Europe

Paris, France - July 17, 2002 - The Fimat Group, one of the world's leading global brokerage organizations and part of Société Généralé Group, announces the promotion of Wessel van der Scheer as the Managing Director of its Asian Zone.

Having transferred to Sydney at the end of May 2002, Wessel took over from Alai
Bozzi, vice-chairman of Fimat Group, to whom he will report. Prior to assuming this new position, Mr. van der Scheer, who has been with Fimat since 1998, was the general manager at Fimat International Banque S.A. in Frankfurt where he has been instrumental in expanding the Fimat business.

Fimat Group Chairman Marc Breillout said, "We are glad to have Wessel to accept
this new challenge and I have no doubt that he will be as successful in Asia as he has been in Germany. The Asian-Pacific derivatives markets are gaining importance in the global arena, in particular, the Korean market which is one of the biggest derivatives markets in terms of volatility, value and volume. Acknowledging the strategic importance of this market, Fimat set up the Korean operation two years ago and is now one of the biggest derivatives traders in Korea."

The Fimat Group has also announced that Jean-Luc Savignac, Director of Société
Générale Securities North Pacific (SGSNP) - Fimat Division, will take over Mr. van der Scheer's responsibilities in Frankfurt.

Moreover, Laurent Cunin, previously Managing Director of SG Online Tokyo, is
rejoining the Fimat Group and replaces Mr. Savignac as Managing Director of the
Fimat Division of Société Générale Securities North Pacific (SGSNP).

"We are confident that with the talented pool of people appointed to our senior
management positions in Asia, we have the best executive team to lead Fimat as we continue to grow our business around the world," concluded Mr. Breillout.

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development