PRESS RELEASE

98% of Global Market Capitalisation now accessible via Cheuvreux / CLSA Global Portfolio Trading
Paris, June 21st 2011 Building on the successful launch of Cheuvreux / CLSA Global Portfolio

TradingPte.Ltd.(GlobalPortfolioTrading)ayearago,CACheuvreuxandCLSAhaveexpanded theiroffertoaccessmorethan98%oftheworld'smarketcapitalisation. Global Portfolio Trading has taken a further step in the ongoing expansion of its access to marketplacesthroughouttheworldwiththeadditionofallemergingmarketsandanumberof frontier markets. This move will bring the trading capabilities of Global Portfolio Trading to a totalof62countriesbytheendofthethirdquarterthisyear. The Global Portfolio Trading service offers a single gateway to the worlds markets, covering morethan98%oftheglobalmarketcapitalisationthroughCACheuvreuxandCLSAsrespective networksofequitymarketmemberships. CACheuvreuxandCLSA'sextensivenetworkoflocalmemberships,combinedwithlongstanding localbrokerrelationshipsensurethatordersareexecutedlocallybyhighlyexperiencedtraders. ThisglobaltradingreachissupportedbyadedicatedaroundtheclockbackofficeinSingapore, providinginstitutionalinvestorswithsmoothdeliveryoftheirtransactions. Global Portfolio Trading leverages CA Cheuvreux and CLSA's sales and sales trading desks, technology and awardwinning research to offer superior equity portfolio trading across the globe. CLSAGlobalHeadofTradingandExecutionAndrewMaynardsaidthatGlobalPortfolioTrading is an essential part of the trading and execution services. To extend our reach beyond developedandemergingmarketsallowsustoofferglobalcoverageandprovideclientswithan alternative channel to pay for our research services. Global Portfolio Trading is committed to superiorexecutionqualitywhilstminimisingmarketimpactbyleveragingourhighlydedicated team,experiencedtradersonthegroundandstateofthearttechnology,Maynardstated. end
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Source:BloombergMay2011

For press inquiries, please contact:

CA Cheuvreux Nadge Cartei Head of Communications Tel: + 33 1 41 89 71 24 Email: ncartei@cheuvreux.com CLSA Asia-Pacific Markets Simone Wheeler Head of Communications Tel: + 852 2600 8196 Email simone.wheeler@clsa.com

About Cheuvreux / CLSA Global Portfolio Trading Pte Ltd

Cheuvreux / CLSA Global Portfolio Trading offers access to up to 62 of the MSCI indices country constituents through a single unified channel to institutional investors wanting to execute equity portfolios efficiently. Cheuvreux / CLSA Global Portfolio Trading focuses on delivering the highest quality of services by capitalising on its unique state-of-the-art technological platform. Cheuvreux / CLSA Global Portfolio Trading, incorporated in Singapore and regulated by the Monetary Authority of Singapore, is jointly owned by CA Cheuvreux and CLSA. For more information please visit www.portfoliotrading.com

About Crdit Agricole Cheuvreux

Part of the Crdit Agricole Group, CA Cheuvreux is the leading pure-agency European equity broker. Its historical multi-local* model positions CA Cheuvreux as a cutting-edge outperformance provider for its 1,200 institutional investor clients. CA Cheuvreux offers extensive, high value-added services in Research, Sales and Execution. With 90 analysts and economists, and unparalleled coverage of 700 stocks, CA Cheuvreux is continuously ranked in the Top 5** for European Country research and a Top 3** European Corporate Access provider. CA Cheuvreux provides extensive market access to 100 execution platforms worldwide including all major MTFs and dark pools. Ranked No.3** in Sales Trading Client Service & Trading Ideas/Updates, CA Cheuvreux's execution specialists offer a wide spectrum of first-class products: DMA, Algorithmic Trading, Global Portfolio Trading, Equity Swaps and its own internal crossing engine "Blink". www.cheuvreux.com

*CA Cheuvreux has 14 offices worldwide: Amsterdam, Athens, Boston, Frankfurt, Istanbul, London, Madrid, Milan, Paris, Stockholm, Zurich, New York, San Francisco, Tokyo. ** Thomson Extel 2011

About CLSA Asia-Pacific Markets

CLSA Asia-Pacific Markets is Asias leading and longest-running independent brokerage and investment group. The company provides investment-banking, equity-broking and asset-management services to global corporate and institutional clients. Renowned for service excellence, product innovation and award-winning market intelligence, CLSA has built its reputation on unrivalled equity research and economic analysis which is consistently ranked the best in Asia. CLSA is one of Asias largest independent equity brokers and one of the worlds largest agency brokers. The groups investment-banking services include M&A advisory, equity transactions and public offerings. Alternative asset management is offered through a range of Asia-based funds under CLSA Capital Partners. Founded in 1986 and headquartered in Hong Kong, CLSA has 1,500 dedicated professionals located in 20 cities across Asia-Pacific, as well as UK and the US. CLSAs major shareholder is France's Credit Agricole, which merged in 2003 with Credit Lyonnais. CLSA enjoys substantial staff ownership which contributes to its independent stance and operations. For more information please visit www.clsa.com