BNP Paribas and Vietnamese-based bank Orient Commercial<@SM>Joint-Stock Bank formalise their alliance

Edited Press Release

PARIS (Dow Jones)-- A ceremony celebrating the strategic alliance betweenFrench bank BNP Paribas (BNPQY) and Orient Commercial Joint-Stock Bank (OCB) hasbeen held at Ho Chi Minh City, the French bank said Friday.

This official ceremony concludes BNP Paribas's formal acquisition of aninitial 10% equity stake in OCB dated 31 December 2007. This brings to an endthe process of negotiations and administrative procedures that BNP Paribasundertook to have the licenses required under local regulations.

The ceremony was also an opportunity for BNP Paribas to establish the detailedstrategic agreements. This transaction makes BNP Paribas OCB's second largestshareholder after Sunimex, a Vietnam-based services company.

After signing the strategic agreements with OCB, BNP Paribas's stake will beincreased to 20% in accordance with recent legislation. BNP Paribas and OCB willnow be working closely together on joint projects related to business lines andsupport functions, the French bank said.

Company Web site www.bnpparibas.com

(END) Dow Jones Newswires 02-29-08 0502ET Copyright (c) 2008 Dow Jones & Company, Inc.