Dividend

The part of profits generated by the company that the Annual Meeting, pursuant to the recommendation of the Board of Directors, decides to distribute to the shareholders. The undistributed part of profits is posted to the reserves in order to reinforce the bank's equity capital.

Performance of the gross dividend per BNP Paribas share since 1996 (in euros)

1996	1997	1998	1999	2000	2001	2002	2003	2004	2005	2006	2007	2008
0,41	0,54	0,75	0,88	1,13	1,20	1,20	1,45	2,00	2,60	3,10	3,35	1,00

Dividends from 1996 through 2000 have been adjusted to take into account the split in half of the face value of the share on 20th Fefruary 2002.

Payment of the dividend

The Annual Meeting, pursuant to the recommendation of the Board of Directors, set up the terms and conditions governing the payment of the dividend. The dividend may be paid in cash or with an option to receive payment in the form of additional shares. The option must be exercised, generally, within a period of three weeks after the cutting off of the coupon. The formalities are completed with the financial intermediaries authorized to pay the dividend.

Case of the dividend paid with additional shares

The new shares covered by this option bear interest from January 1st of the current year, and are issued at a price equal to at least 90% of the average of the first prices quoted during the twenty stock market sessions preceding the date of the Annual Meeting, less the amount of the dividend. In the event that the dividend due does not correspond to a round number of shares, the shareholder may choose to be paid a balancing cash adjustment or, alternatively, to pay a further amount allowing him to acquire an additional share.

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