Summary of 2nd Quarter 2003 P

1

2
Summary of 2nd Quarter 2003 PL
Based on pro forma accounts, without
exceptional and non-recurring items
3
1st Half 2003 PL Account
Based on pro forma accounts, without
exceptional and non-recurring items
4
Summary of 2nd Quarter 2003 PL
Based on pro forma accounts, without
exceptional and non-recurring items
5
Quarterly evolution of the underlyingGross
Operating Income
6
Summary of 2nd Quarter 2003 PL
Based on pro forma accounts, without
exceptional and non-recurring items
7
Cost of Risk related to total net O/S
commitments (in basis points)
8
1st Half 2003 PL Account
Based on pro forma accounts, without
exceptional and non-recurring items
9
Key Performance indicators
Annualized End of period Including GBRR
Group share
10
Public / Project Finance Credit Enhancement
Activity Highlights

• L.T. Outstandings (in off B/S)

11
Public / Project Finance Credit Enhancement
Activity Highlights

• Production of L.T. facilities (in off B/S)

12
Public / Project Finance Credit Enhancement
Activity Highlights

• FSA Gross Present Value Origination

13
Public/Project Finance Credit
EnhancementAnalysis of underlying PL
Based on pro forma accounts Annualized
Return on Economic Equity. ROEE Total Net
Income (before minority interests) / Allocated
Equity
14
Retail Financial Services
Activity Highlights

• Customers Assets

15
Retail Financial Services
Activity Highlights

• Insurance Premiums

16
Retail Financial Services Analysis of underlying
PL

• Based on pro forma accounts
• Annualized Return on Economic Equity. ROEE
  Total Net Income (before minority interests) /
  Allocated Equity

17
Retail Financial Services Analysis of H1 2003
underlying PL

• Based on pro forma accounts
• Annualized Return on Economic Equity. ROEE
  Total Net Income (before minority interests) /
  Allocated Equity

18
Investment Management Services
Activity Highlights

• Private Banking/Affluent customers assets

Dec. 2002
June 2003
March 2003
19
Investment Management Services
Activity Highlights

• Assets under management

Dec. 2002
June 2003
March 2003
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Investment Management Services
? Fund Administration and Securities Services
Dec. 00
00
02
01
00
Dec 00
Dec 01
Dec 02
00
01
21
Investment Management Services Quarterly
evolution of the underlying Gross Operating Income
22
Capital Markets Treasury Activities Analysis
of underlying PL

• Based on pro forma accounts
• Annualized Return on Economic Equity. ROEE
  Total Net Income (before minority interests) /
  Allocated Equity

23
Cost synergy achievements
Artesia integration
24
Final Results of the Dexia Offer
DBNL/Legio
25