CNP Assurances Press Release.

Business Editors

PARIS--(BUSINESS WIRE)--Dec. 18, 2003

CNP Assurances (CNPP.PA)(CNPA)(SICOVAM:12022)

Further to the agreement between the federation of mutual insurance companies, FNMF, and CNP Assurances, Matmut and CNP Assurances have agreed to establish a long-term partnership of equals designed to enable Matmut to meet the needs of its clients in the area of personal risk insurance.

The partnership will take the form of a 50/50 co-insurance agreement between Matmut and CNP Assurances, drawing on the two partners' expertise and resources, and that could associate FNMF. The agreement will remain in force until 31 December 2013.

Armed with first rate marketing and technical skills, Matmut and CNP Assurances are confident of their ability to offer Matumut clients personal risk solutions that are closely tailored to their needs and the quality of service they are entitled to expect.

The initial offers will be launched during 2004.

Matmut is France's sixth largest motor insurer. The company has 2.4 million clients, a network of 570 sales outlets and 2,000 insurance advisors.

CNP Assurances is France's leading personal insurer, with over 14 million insured and some 12 million policies. The company has written personal risk insurance throughout its 150-year history and has developed this business by devising simple, innovative and competitively-priced solutions to the needs of French people.