BNP Paribas Continues to Boost Fixed Income in the U.S.

NEW YORK -- BNP Paribas is pleased to announce the appointments of Daniel Brereton as a Managing Director and head of US credit flow trading, James Bolger as a senior financials trader, Brian Hannon as senior high yield trader, Graham Barnett as a senior credit analyst covering the healthcare sector and Tatyana Dobryanskaya as a credit analyst covering the utility sector.

Daniel joins the firm from UBS Securities where he was a corporate bond trader since 1994. Prior to that, he spent five years at Prudential Securities in New York as a government and corporate bond trader. He is based in New York and reports to Eric Dumas, head of credit trading in the US and global head of flow credit trading.

Commenting on the appointment, Eric Dumas said, "Dan's experience and excellent reputation in the market brings a great combination of strengths to BNP Paribas' trading operations."

James Bolger joins as a senior financials trader. He joins from Bear Stearns where he worked as a Managing Director in credit trading since 2003. Prior to that he worked at BNP Paribas for three years in corporate bond trading. Previously he spent three years at PaineWebber and Prudential Securities both in corporate bond trading. He reports to Dan Brereton.

Brian Hannon joins as a high yield trader from Imperial Capital LLC where he was responsible for distressed debt trading since 2002. Prior to that, he spent three years at Bear Stearns as a Managing Director in high yield trading and before that he worked at Scotia Capital Markets, Jefferies and Co. and Donaldson Lufkin & Jenrette as a high yield trader. He reports to John Agnew, head of high yield trading.

Graham joins BNP Paribas' research team from Credit Suisse First Boston where he worked as a senior analyst covering the high yield healthcare sector since 2002. Prior to that, he worked at Donaldson, Lufkin & Jenrette (now owned by CSFB) in the healthcare investment banking team for ten years.

Tatyana Dobryanskaya joins the firm from Merrill Lynch in New York and London where she worked in the global credit and equity-linked research department since 2000. Both Graham and Tatyana report to Rosemary Sisson, head of research in the U.S.

Bob Hawley, head of fixed income, North America said, "We are continuing to build our Fixed Income business in the U.S and have plans to increase our fixed income headcount by a further 15% this year. We are a powerhouse in Europe in the world of corporate bond underwriting and have been building our U.S. position since 2003, rising recently to No. 12 in the high-grade new issue market from No. 15 in 2004, according to data from Thomson Financial, and we will continue to build on this position."

About BNP Paribas

BNP Paribas (www.bnpparibas.com) is a European leader in banking and financial services, with a significant and growing presence in the United States and leading positions in Asia. The most profitable bank in the Euro zone, it has a presence in 85 countries with close to 100,000 employees. The group enjoys key positions in Corporate and Investment Banking, Private Banking & Asset Management, Insurance, Securities Services and Retail Banking.

BNP Paribas provides a full array of financial products through a portfolio of brands that cover a variety of distribution channels. With offices in New York, BNP Paribas in North America offers a broad range of corporate, investment banking and securities brokerage activities. With locations in all the major corporate and financial centers across the United States and Canada, BNP Paribas in North America serves a world-class client base of multinational corporate and mid-cap companies, major issuers and institutional buyers. As a registered member of the NYSE, a NASD broker-dealer and member of SIPC, BNP Paribas Securities Corp. trades and markets a vast array of global and domestic fixed income and equity products