Two Appointments to the CNP Assurances Executive Board.

Business Editors

PARIS--(BUSINESS WIRE)--Dec. 17, 2003

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

At its meeting today, the Supervisory Board of CNP Assurances changed the membership of the Executive Board by appointing Antoine Lissowski as Finance Director and Xavier Larnaudie-Eiffel as Director, International Operations.

Jean-Paul Marchetti, former Finance Director, is to join the Executive Board of CDC Ixis AM, with specific responsibility for Finance.

Bernard Delas, former Director, International Operations, has been appointed as Advisor to the President of the Executive Board.

Xavier Larnaudie-Eiffel, aged 45, is a graduate of Institut d'Etudes Politiques de Bordeaux and an alumnus of Ecole Nationale d'Administration.

During his career as a senior civil servant, Xavier held positions at several Prefectures before becoming head of the private staff of the Minister of research and higher education in 1986.

In 1988, he joined the Treasury Department where he held various positions in the international section, going on to become Technical Advisor to the Minister of the Economy responsible for the "Europe" and "Development" dossiers in 1993.

In 1994, Xavier was appointed Deputy Director of the Insurance Section of the Treasury Department, with responsibility for insurance industry regulation and oversight.

From 1995 to 2000, he headed the private staff of the European Commissioner for economic and monetary affairs. During this period, he devoted most of his time to preparing the introduction of the euro.

Since March 2000, Xavier has been Vice President of Solving International, with specific responsibility for the Finance and Banking Sectors in Europe and Brazil. He is a member of the Solving International Executive Committee and Executive Board.

Antoine Lissowski, aged 47, is a graduate of Institut d'Etudes Politiques de Paris and an alumnus of Ecole Nationale d'Administration.

He began his career with Caisse des Depots et Consignations, where he was in charge of Foreign Exchange and Eurocredit operations. In 1985, he joined the Commission des Operations de Bourse (COB), where he led the first working groups set up to look into the code of ethics applicable to the financial services industry.

Antoine returned to Caisse des Depots in 1988 to take charge of developing the money market and bond businesses. In 1990, he was appointed Managing Director of Caisse Autonome de Refinancement (CAR - Caisse des Depots Group). In this position, his responsibilities included managing the refinancing of very long term assets and he also developed a financial R&D activity.

In 1993, Antoine was appointed Finance Director of the Banking and Financial Services division of Caisse des Depots, going on to become the Finance Director of CDC Ixis when this new entity was set up in December 2000. Since May 2002, he has been a member of the Executive Board, responsible for proprietary trading, and since September 2003 he has also been Chairman of the Supervisory Board of CDC Ixis Financial Guaranty Holding, an insurance company specialised in insuring municipal and corporate bond issues and structured funds, operating in both Europe and the United States.