Growth in Asia-Pacific leads to senior executive moves to support regional expansion

Hong Kong - March 15, 2005 - Fimat Group, one of the world's leading global brokerage organizations and part of Société Générale Group is strengthening its Asia-Pacific operations in response to strong growth across the region. The Group's expansion includes centralizing its management, sales, risk, legal, compliance and IT functions within the Hong Kong regional headquarters and strengthening the regional management team.

Fimat was ranked the first and second position in the execution of futures on the Hong Kong Futures Exchange in the 1st and 2nd quarters in 2004*. It was also top of the clearing rankings on the Sydney Futures Exchange in 2004 and in February 2005*. With the introduction of electronic trading on the Nikkei contracts in Singapore, Fimat achieved the largest share of the clearing market due to its dominance in electronic trading*. A new office was established in India in 2004, and Fimat became the first foreign member of the Tokyo Commodities Exchange . In addition, OTC business across the region increased significantly, largely as a result of new, dedicated, OTC teams in Melbourne and Tokyo. Today, Fimat is present in six countries across Asia-Pacific including Hong Kong, Korea, Singapore, Japan, Australia and India and will soon be present in Taiwan.

In Hong Kong, which serves as the regional hub for Fimat, there has been significant investment in the operational infrastructure, especially in the areas of risk, legal and compliance and e-trading, to support the entire region. As part of the expansion, Wessel Van der Scheer, CEO Asia-Pacific, has relocated to Hong Kong where he will oversee all the Group's expanding activities in the region. On the technology side, the regional offices have been bolstered by the appointment of Carl Dietzel as CIO Asia-Pacific, who has relocated from Fimat Australia to Hong Kong, and continues the commitment to service clients in the Australian market place. Thierry Estimbre has also been nominated Deputy CIO Asia-Pacfic and Head of E-Trading. He was previously IT Manager for the Fimat Division in SGSNP in Tokyo. Christian Regis, previously Fimat Group Internal Controller in Paris, also joins the team in Hong Kong as Deputy COO Asia-Pacific, and will help to oversee the growing number of support functions in Hong Kong. He will report to Jens Winter, COO Asia-Pacific.

According to Mr. Van der Scheer, "2004 was a record year for Fimat both globally and in Asia-Pacific. In this region, our global reach and the strong network that we have maintained in Asia-Pacific meant that Fimat was well-placed to benefit from growing interest in Asian markets from Europe and the United States. There are still significant opportunities to be realized in the Asia-Pacific region ahead of us."

To support these efforts, Philippe Eme has been named Head of Sales and Marketing Asia, excluding Japan, and will be responsible for capturing the opportunities for growth in emerging Asia. Philippe was previously Branch Manager of SG-Fimat in Seoul, South Korea and played an instrumental role in the creation of this entity. He is replaced in Seoul by Thibault Mudes, formerly the Chief Operating Officer of SG-Fimat in Seoul.

In other areas, Fimat has acted to seize opportunities in the clearing market, especially with market makers, with the appointment of Mike Gilbert as Clearing Sales Manager for Asia-Pacific. He previously held the position of Managing Director for ORC Software in Australia.

In addition, Paul Wong has been named Asia/Pacific Director of Legal, while Wincy Tsang has been named Asia/Pacific Director of Compliance. Paul Wong joins Fimat after most recently serving as an Associate with the San Francisco based law firm of Sedgwick, Detert, Moran & Arnold, where he specialized in corporate and securities matters. Wincy Tsang joins Fimat after most recently serving as a Manager for the Intermediary Supervision Department of the Hong Kong Securities and Futures Commission.

"With the combined experience, talent and proven track record of the reinforced management team in our regional headquarters, I am sure that we have the best team in place to fully realize the opportunities for growth in Asia-Pacific," said Wessel Van der Scheer.

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