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Credit Foncier et Communal d Alsace et de Lorraine & Credit Foncier de France SA	Update Date: 12/19/08
Date Announced: 06/21/04
Value (million $USD): 36.3 million U.S. Dollar 30.0 million EURO

Status: Completed

TRANSACTION DETAILS
Date Announced	06/21/04
Date Originally Announced	06/21/04
Format	Acq. Part. Int.	Acquisition techniques	Privately Negotiated Purc
Attitude	Neutral	Agency	Unspecified Regulatory Auth.
Value	36.3 million U.S. Dollar 30.0 million EURO	Advisor Fees	n/a

SYNOPSIS

FRANCE - Credit Foncier de France (CFF), a 52.12%-owned unit of Caisse d'Epargne's Caisse Nationale des Caisses d'Epargne subsidiary, raised its stake to 33.75% from 9.5%, by acquiring a 24.25% stake, or 0.077 mil ordinary shares, in Credit Foncier et Communal d'Alsace et de Lorraine (CAL), a Strasbourg-based bank, from Societe Alsacienne de Developpement et d'Expansion SA (14.25%) and Credit Industriel d'Alsace et de Lorraine (10%), a unit of the 68.95%-owned Credit Industriel et Commercial subsidiary of Caisse Federale du Credit Mutuel Central Est Europe's 95%-owned Banque Federative du Credit Mutuel unit, for 390 euros ($472.612 US), or a total value of 29.955 mil euros ($36.3 mil). Concurrently, CFF planned to launch a tender offer to acquire the remaining 66.25% interest, which it did not already own, in CAL.

TARGET
Name	Credit Foncier et Communal d Alsace et de Lorraine (Nancy : CREP)
Industries	n/a
City	Strasbourg Cedex
State	n/a
Nation	France
Incorporated in	n/a
Public Status	Public
Business Description	Bank
Advisors	NULL
Target Sales	64.2 million U.S. Dollar 51.2 million EURO

ACQUIROR
Name	Credit Foncier de France SA (Paris : CRFF)
Industries	n/a
City	Paris
State	n/a
Nation	France
Incorporated in	n/a
Public Status	Public
Business Description	Bank
Advisors	Lazard
Acquiror Sales	3.86 billion U.S. Dollar 3.08 billion EURO

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