BNP Paribas is made up of three core businesses : Corporate and Investment Banking, Retail Banking, Asset Management & Services, and also BNP Paribas Capital which spearheads the Private Equity business.

BNP Paribas is determined to be a benchmark banking group that considers the customer as its key preoccupation and actively pursues the improvement of its earning capacity. His values guide the attitude of each employee and inspire the management principles: commitment, creativity, ambition, reaction capability.

In all its core businesses, BNP Paribas is determined to be a benchmark banking group that considers the customer as its key preoccupation and actively pursues the improvement of its earning capacity.

This three-way objective has led it to define the values which must guide the attitude of each employee and inspire the management principles implemented at every level of the Group, both within and outside France.

Commitment

BNP Paribas founds its corporate project on three commitments:

• toward its customers, BNP Paribas undertakes to give first priority to their satisfaction and to constantly improving the quality of their welcome and of the services offered,
• toward its shareholders, BNP Paribas undertakes to put value creation at the very heart of its options,
• toward its employees, BNP Paribas undertakes to ensure a dynamic and stimulating management of careers and remuneration by developing employee share-ownership and promoting social dialogue.

The respect of these commitments is guaranteed by the team spirit of all the bank's employees and their adherence to a code of ethics founded on transparency, professionalism and quality.

Ambition

The large number of front-ranking positions already acquired by BNP Paribas form the basis of its development strategy. To ensure this strategy is fully operational, the Group is focusing its efforts on competing with the very best and promoting an entrepreneurial spirit, offering true leverage for individual and collective efficiency.

Indeed, the conquest of new markets and new customers requires our acceptance of comparison and confrontation with our best competitors in order to adopt the best practices in each of our business activities.

The Group also encourages individual initiative, empowerment and achievement through a large decentralization of responsibilities founded on clear rules of delegation.

Creativity

BNP Paribas wants to remain a benchmark company in terms of technological and financial innovation which implies on its part:

• a permanent focus on innovation to ensure constant progress,
• and the creation of networks of expertise and talent.

Reaction Capability

In order to seize opportunities and to control, without delay, the risks inherent in its activities, BNP Paribas is obliged to react swiftly. This implies the ability:

• to adapt its organization rapidly to its customers' expectations and to changes in the markets and technology,
• and to promote individual accountability, at every level of the organization.

2004 Rankings

Worldwide:

• BNP Paribas ECEP ranked worldwide N°1 in Project Finance for year 2004 (dealogic 2005)
• Equities & Derivatives: BNP Paribas Peregrine 2004 Mid-cap Equity House of the Year for the second consecutive year (Finance Asia)
• Fixed Income: Best Lead Manager of Corporate Bonds (peer poll) (Euroweek)
• Structured Finance: Aircraft Finance House of the Year (Jane's Transport Finance)
• Structured Finance: Number 3 Bookrunner of Syndicated Loans in Europe, Middle-East, Africa (IFR)
• Corporate Finance: Excellence in Investment Banking 2004 (Financial News)

In Europe:

• Cortal Consors N°1 for online brokerage in Europe
• BNP Paribas Immobilier N°1 in Europe
• BNP Paribas Private Bank N°1 in France and N°4 in Europe
• Cetelem N°1 for Consumer credit in Europe
• Arval N°1 in France, united-Kingdom and Italy
• BNP Paribas Securities Services n° 1 in six European Markets (Global Investor 2005)
• 1st for Mergers and Acquisitions in France (Dealogic)