Edited Press Release
BRUSSELS (Dow Jones)--Franco-Belgian bank Dexia SA (DEXB.BT) said Thursdaythat the majority of the share leasing clients of Dexia Bank Nederland considerthe Duisenberg Arrangement as a fair proposal.
On Jan. 25, 2007, the Amsterdam Court of Appeal granted binding force to theDuisenberg Arrangement. Pursuant to this judgment, the application of the "Lawof Settlement of Mass Damage" binds all concerned clients to the DuisenbergArrangement as long as they do not opt out within a six month period which endedon July 31, 2007.
Out of the 190,000 clients who were involved, about 24,700 opted out duringthe 6 months period. The opt-outs are in majority members of Leaseproces B.V. (some 16,000). Besides, about 2,400 clients who had already started a legalprocedure against the bank opted out. This means that only 6,400 clients, whoare not part of Leaseproces and had not yet started a legal procedure, decidedto opt out.
Above all, this means that the legal uncertainty linked to the 165,300 clientswho did not opt out is eliminated.
Dexia remains convinced that the Duisenberg Arrangement is a fair agreementand will continue to defend its position with the clients who opted out.
Company website: http://www.dexia.com
(END) Dow Jones Newswires 08-02-07 1017ET Copyright (c) 2007 Dow Jones & Company, Inc.
