NATIXIS : RESULTS AT JUNE 30 2008

new strategic directions

- reduced risk profile

- refocus on more recurring activities

- increased solidity

in the first quarter of 2008, a provisioning effort to match the scale of the crisis

- Takes into account the effects of a worsened economic and banking crisis:

- Credit value adjustments and writedowns: 1,509 million euros before tax for the second quarter of 2008

- NBI at 1,552 million euros and net underlying income at -859 million euros

- Solid business performances, specifically in Asset Management, Services and Receivables Management

new strategic directions, with business lines focused on the most recurring activities and on the reduction of risk

- A lower risk CIB, refocused on key strengths and client-driven activities

- Growth in the group's other business lines

- Enhanced operating efficiency

- Financial structure strengthened through the capital increase project

- Tier 1 ratio proforma of the capital increase: 9.3% at June 30, 2008

- Core Tier 1 ratio[*] proforma of the capital increase: 7.8% at June 30, 2008

Natixis' consolidated financial statements were approved by the Executive Board on August 21, 2008.

Unless otherwise stated, all the variations presented in this press release are calculated relative to figures for the first half of 2007.

The quarterly data takes into account (see bridge tables on page 17):

- The change in the scope of the CIB and Services divisions. The following business lines (previously attached to CIB), which mostly involve retail activity, are now attached to the Services division: Leasing, Natixis Pramex International (Council on International Development of Small and edium-Sized Companies) and Natixis Algérie.

- The amendments to analytical agreements for compensation from allocated capital and appropriation of committed costs.

- The appropriation of allocated capital pursuant to Basel II rules.

[*] Core Tier 1 calculated with deduction of CCIs prorata of the non-hybrid Tier 1 within total Tier 1

The full press release is available at http://www.hugingroup.com

Contacts:

+-------------------+--------------------+
| Press Relations:  |relationspresse@nati|
|                   |xis.com             |
+-------------------+--------------------+
|Victoria Eideliman |T + 33 1 58 19 47 05|
+-------------------+--------------------+
|Corinne Lavaud     |T + 33 1 58 19 80 24|
+-------------------+--------------------+
|Valerie Boas       |T + 33 1 58 19 25 99|
+-------------------+--------------------+

This information is provided by HUGIN