BNP Paribas Investment Partners The full circle of

BNP Paribas Investment Partners The full circle of expertise December 2008

2 Your interest at the centre ● Global framework: – Proximity to our clients worldwide through our local presence – Financial resources from BNP Paribas Group ● Multi-specialist approach: – Empowering our asset managers with investment autonomy within dedicated business entities – Combining expert skills in tailor-made solutions ● Partnership philosophy: – Bringing you immediate access to the finest specialised players through a unique partnership approach – Maintaining your interest, as our most valued partner, at the centre Introducing BNP Paribas Investment Partners

3 dc red it ure n com en em m an ag an d ncy m anag emen Wealth m anagem s fund & ity plo sa yee Korea vin China P riv e at u eq Em Brazil e Chil tina n e Arg bia ra i. A d u Sa fh Mo roc co Tur key India ds o ment anage Hedge funds Fun l Multi-m t e edg nta me ron vi En e Curre t str uct catio dit t Allo Structured investments ies Equit Asse de xe d d in In fixe Cre bal M Glo ey on m ar ea rop Eu ke n ts fixe com d in e Built on a full circle of expertise gs sc ent ret irem ent he m es Introducing BNP Paribas Investment Partners

4 The benefits of an international group ● Istanbul ● London ● Madrid ● Milan ● TEB BNP Paribas Asset Management ● Paris Europe▲Amsterdam 1519 Americas 324 ● Boston ● New York ● Fund. Quest ● BNP Paribas Asset Management ● Fischer Francis Trees & Watts ● Fridson Investment Advisors ▲Budapest ▲Frankfort ▲Geneva ▲Lisbon ▲Luxembourg ▲Prague ▲Vienna ▲Zurich Middle East Africa 31 ● Buenos Aires ● Santiago ● São Paulo ▲Montevideo ● BNP Paribas Asset Management ● Banco. Estados Administradora General de ● Bahrain ● Casablanca Fondos ● BNP Paribas Asset ● Riyadh Management ▲Kuwait ● BNP Paribas Asset Management ● BMCI Gestion ● SAIB BNP Paribas Asset Management Client Servicing Centres Asset Management and Client Servicing Centres Source: BNP Paribas Asset Management as at September 30, 2008 ● BNP Paribas Asset Management ● Fauchier Partners ● Fischer Francis Trees and Watts ● Fund. Quest ● Impax ● Overlay Asset ● Antin Infrastructure Partners Management ● BNP Paribas Asset Management ● BNP Paribas Épargne & Retraite Entreprises ● BNP Paribas Gestion Privée sous Mandat ● BNP Paribas Private Equity ● Cardif Asset Management ● Fund. Quest ● Overlay Asset Management Number of Employees Asia Pacific ● Chennai 553 ● Sundaram BNP Paribas Asset Management ● Seoul ● Overlay Asset Management BNP Paribas AMC ● Shanghai ● Shinhan ● SYWG BNP Paribas Asset Management ● Singapore ● Fischer Francis Trees and Watts ● Tokyo ● BNP Paribas Asset Management ▲Beijing ▲Brunei ▲Kuala Lumpur ▲Melbourne ▲Sydney ▲Taipei ● Hong Kong Introducing BNP Paribas Investment Partners

5 A culture based on shared values ● Consistency of processes: – In order to sustain success, all partners recognise that a consistent approach to the investment process and client service is key ● Entrepreneurial spirit: – Passion for innovation – Ability to anticipate and react to market developments ● Investment autonomy: – Nurturing talent within dedicated investment teams – Preserving successful business cultures ● Openness: – Constantly on the lookout for new investment tools and market insight – Sharing ideas among the Partners Introducing BNP Paribas Investment Partners

6 A strong, diversified business ● BNP Paribas Investment Partners: – Assets under management: € 305 billion* – International presence: 2, 384 professionals worldwide in 33 countries – Financial strength: Part of BNP Paribas Group Breakdown by asset class** Breakdown by client type** Asset Allocation 21% Money Market 31% Third-party Distribution 17% Equities 15% Bonds & Convertibles 18% Alternative & Currency Overlay 7% Structured Indexed Investments s 5% 3% Retail & Private Banking 36% Institutions 47% Source: BNP Paribas Asset Management as at 31 December 2008 * Including assets under advice ** Assets under advice excluded Introducing BNP Paribas Investment Partners

7 A large institutional client base ● Assets under management: € 173 billion* Breakdown by client segment** Insurance Companies 11% Geographical breakdown** Others 5% Pension Funds 18% Employee Savings Plans 3% Americas 9% Middle East Africa 7% Corporates 18% Central banks & Supranationals & Government agencies 15% Asia 11% Europe (ex France) 12% 41% Banks & Financials Institutions 28 % Associations & Foundations 1% Source: BNP Paribas Asset Management as at 31 December 2008 * Including assets under advice ** Assets under advice excluded France 61% Introducing BNP Paribas Investment Partners

8 Global framework ~ Part of BNP Paribas Group BNP PARIBAS Retail Bank French Retail Bank BNP Paribas Assurance International Retail Banking & Financial Services BNP Paribas Private Bank Asset Management & Services Corporate and Investment Banking BNL Banca Commercial e BNP Paribas Securities Service Investment Management BNP Paribas Investment Partners Distribution & Business Development BNP Paribas Personal Investors BNP Paribas Real Estate Support Functions Introducing BNP Paribas Investment Partners

9 Multi-specialist approach ~ Expertise that works for you. BNP Paribas Investment Partners ● Putting the client first by locating our Client Relationship Managers close to their markets ● Ensuring suitable investment solutions through dialogue with product specialists EQUITY MULTI-EXPERT FIXED INCOME ALTERNATIVES SOLUTIONS • Global and Regional Equities • Equities – market cap and style portfolios • Emerging Markets • Global Fixed Income and Credit Management • European Fixed Income • Total Return • Money Markets • Hedge Funds • Funds of Hedge Funds • Private Equity • Multi-Strategy • Currency Management • Structured Products • Indexed Products • Asset Allocation • Multi. Management • Wealth • Management Retirement & Saving Schemes Introducing BNP Paribas Investment Partners

10 Multi-Specialist Approach ~ Thinking ahead 2008 • Fridson Investment Advisors Expanding investment opportunity set & expertise (US Corporate credit markets) • Antin Infrastructure Partners (Infrastructure funds) 2007 • SAIB BNP Paribas Asset Management Impax (Saudi Arabia) (Environment • al markets) Banco. Estado Administradora General de 2006 Fondos BNP Paribas (Chile) Private Equity 2005 • Fund. Quest (Multi-management) 2004 1999 Fischer Francis Trees & Watts • Shinhan BNP Paribas (Global fixed income) AMC (Korea) 1998 1964 BNP and Paribas establish their asset management business • Exchange Traded Funds (Easy. ETF) SYWG BNP • Sundaram BNP Paribas Asset Paribas Management Asset Management 2001 (China) (India) • Overlay Asset • TEB Asset 2000 Management BNP and (Foreign (Turkey) Paribas merge exchange) • Fauchier Partners (Funds of hedge funds) • BMCI Gestion (Morocco) Time Introducing BNP Paribas Investment Partners

11 Partnership philosophy ~ Promoting excellence CLIENT SERVICE MANAGERS CLIENT RELATIONSHIP MANAGERS § Ability to tailor client reporting and service UP A W LO ES EN R A W L FO S § Respond to evolving needs § Awareness of specific client needs § Leverage global resources and expertise Serving you as a partner EM PL IM T TA EN MULTI-SPECIALISTS N N IO § Benefit from investment autonomy and entrepreneurial ownership § Ability to innovate and invest in sustainable competitive advantages EV U AL IO AT PRODUCT SPECIALISTS § Evaluate and define investment goals § Engage with clients to develop tailored investment solutions Introducing BNP Paribas Investment Partners

12 Built to help our clients meet their goals: ● Global framework identifies your specific needs and enables you to tap into our pool of knowledge and investment solutions ● Multi-specialist approach empowers our investment partners to focus on producing strong, long-term investment results for you ● Partnership philosophy instils a sense of purpose and commitment to excellence ● Our platform combines the best of both worlds and gives you one convenient point of entry Introducing BNP Paribas Investment Partners

13 Contact details and disclaimer Contact details: Call Toll Free (BSNL & MTNL ONLY) – 1800 -4251000 All Service Providers – 044 -28578700 service@sundarambnpparibas. in ● "BNP Paribas Investment Partners" is the global brand name of the BNP Paribas group's asset management services. The individual asset management entities within BNP Paribas Investment Partners are specified herein for information only and do not necessarily carry on business in your jurisdiction. For further information, please contact your locally licensed Investment Partner. This document is being distributed in the UK by BNPP AM UK, regulated by FSA. ( to be adapted according to the country & partner). ● The contents of this presentation are based upon sources of information believed to be reliable, but no warranty or declaration, either explicit or implicit, is given as to their accuracy or completeness. This presentation is not intended for distribution to or use by any person or entity in any jurisdiction or country where such distribution or use would be contrary to local law or regulation. ● Historical returns are provided for illustrative purposes only and do not necessarily reflects our expectations for the future. The value of your investments may fluctuate. Results obtained in the past are no guarantee for the future. ● No rights whatsoever are licensed or assigned or shall otherwise pass to persons accessing this information. This presentation may not be copied, without the prior written consent of BNPP IP. Introducing BNP Paribas Investment Partners