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Press release                                                                                                  

Montrouge, 16 May 2014

Rights issue by Banco Espirito Santo

Crédit Agricole S.A. announces today that it will contribute around €10 million toward the rights issue announced today by Banco Espirito Santo (BES) by investing a portion of the proceeds raised by selling the preferential subscription rights it will receive as part of the transaction.

Furthermore, Crédit Agricole S.A. has undertaken not to sell any BES shares following the rights issue for a period of 180 days with effect from the settlement/delivery date of the transaction, subject to certain exemptions.