Global Expertise / Local Capabilities

BNP PARIBAS EL DJAZAÏR

“Your Bank Reference in Algeria”

NORTH AFRICA DAY

November 12th, 2009

ISTANBUL

Mounir BELAIDENESenior Trade Manager of BNP Paribas El Djazaïr Trade Center - Algeria

22

Agenda

1. Algerian Economy Overview

Key Economic Indicators;

Major Economic Sectors;

Trade Data;

2. BNP PARIBAS EL DJAZAÏR Overview & Highlights

Expending Business Activity;

Improving Results;

Corporate Banking dedicated team;

3. Algerian Foreign Exchange Regulation

Investment regulation;

Foreign exchange regulation;

33

Algerian Economy Overview: Key Economic Indicators

Economic indicators continuing to improve

2006 2007 2008 2009

GDP ($bn) 116.8 135.3 160 134.8

GDP / Capital ($) 3 456 3 934 4 500 3 800

GDP growth (%) 2.0 3.0 2.4 2.1

NHGDP growth (%) 5.6 6.3 6.1 n.a

Inflation 2.5 3.5 4.5 4.6

Population (Mll) 33.8 34.4 34.8 35.3

45%

7%4%

9%

20%

15%

Hydrocarbons

Agriculture

Industry

Const & public works

Nongov. services

Gov. services Imp Taxes & duties

Gross Domestic Product composition 2008

44

Algerian Economy Overview: Major Economic sectors

HYDROCARBON SECTOR: large development project are attracting foreign investments

8th largest reserves of natural gas, 3rd largest natural gas producer;

14th rank in oil reserves,10th oil largest producer;

Accounting in 2008 for 99% of exports;

60% of revenue budget;

44% of GDP.

Including Hydrocarbon exploration and production;

Mining;

Electricity and gas distribution;

Distribution of Petrochemical product.

The current SONATRACH investment programme involves $45bn for 2008-2012.

Investment going into petrochemicals and refineries is expected to be $28bn.

5| 00/00/0000 |Département / nom 5

Algerian Economy Overview: Major Economic sectors

CONSTRUCTION & REAL ESTATE: Urban project and new investment provide a boost to construction

Accounting for 9% of GDP in 2008;

70% of the $145bn 2005-09 programme allocated for housing and infrastructure;

Sector growth increased by 9.8% in 2008, 10% of the population employed.

Transport: 1200-KM East-West Highway ($11bn) construction of 538 bridges and 13 tunnels;

1300-KM hauts plateaux beltway project ($9bn) feasibility study call for tenders started

in 2007.

Trams & Train: Algiers Metro, line A&B (Eur 1.280bn);

Tramway of Algiers (Eur 320M), Oran (Eur 355M) and Constantine (Eur 307M);

Rehabilitation and expansion of rail network ($18bn).

Water: Programme for construction of 13 desalination plants.

Housing: 1 Million new affordable housing units, total investment of ($20bn);

Construction of a new city in Hassi Messaooud ($6bn).

Health & Education: 65 General hospitals, 76 polyclinics, 168 health centers and 40 stream rooms;

180 schools built annually nationwide, 93.400 student places and 70.000 flats for

university accommodation.

6

Algerian Economy Overview: Major Economic sectors

AGRICULTURE : efforts are being made to turn from a top importer to a top exporter

25% of the population employed;

Accounting for 7% of GDP in 2008;

Sector growth decreased by 5.3% in 2008 (depending on rainfall level);

Eur 7bn was allocated under the National Agricultural Plans (PNDA) 2000-2004-2014;

Government’s goal is to reach self sufficiency;

Reducing imports and increasing exports.

Algeria remains top importer of agricultural goods, bill reached $7.3bn in 2008;

Exports reached $119M in 2008. Main exports are dates, wine, olive oil and fish.

6

77

Algerian Economy Overview: Major Economic sectors

INDUSTRY: Maximising untapped potential, investments increases in line with

diversification efforts

GDP contributor at 4% in 2008;

Sector growth increased by 4.4% in 2008

Opportunities:

Subcontracting the manufacture of vehicles components (with average of 215.000 vehicles per years

imported during the last years);

Production under licence of electrical high-tech systems;

Pharmaceutical large market, local production covers only 30% of national consumption. Imports reached

$1.5bn in 2008.

Government’s Plan:

Construction of $1.7bn Sorfert Greenfield fertiliser plant;

Construction of $750M iron and steel mill by Egypt's Al Ezz steel rebars;

Project to build Africa’s largest aluminium complex ($7.5bn) agreement between Soanatrach /Mubadala

(emirates) / Dubal (Dubai).

8

Algerian Economy Overview: Major Economic sectors

TOURISM: new development plan should help to boost visitor numbers

1.7 Million of visitors;

Contributed to a modest 1.7% of Algeria's GDP;

Objective 20 Million of visitors by 2025;

Government launched 15 major projects which could eventually draw $13.7bn.

IT & TELECOMS: liberalisation has revitalised the sector and connections are getting better,

Internet penetration: 4 Million users, about 9% of country’s population.

Mobile phone penetration : 0.26% (54 000 subscribers) in 2000 to 80% (27M subscribers) in 2008.

Fixed Line Penetration : doubled since 2000, 3 Million subscribes.

Long term target for telephone penetration by 2025 is 130% with 60m High Spead Internet connection

99

Algerian Economy Overview: Trade Data

2006 2007 2008 2009

Export fob ($bn) 54.7 60.6 78.6 42

Import fob ($bn) 20.7 26.4 3841

Overall balance ($bn) 17.7 29.6 37n.a

Reserves ($bn) 77.8 110.2 143.1n.a

External debt ($bn) 5.6 5.6 5.6n.a

External account surpluses remain high

10

Main Clients - June 2009

1,9%

2,7%

2,9%

4,2%

5,2%

5,8%

11,2%

13,6%

14,3%

14,7%

0,0% 2,0% 4,0% 6,0% 8,0% 10,0% 12,0% 14,0% 16,0%

Korea

GB

Portugal

Netherlands

Canada

Turkey

France

Spain

Italy

USA

10

Algerian Economy Overview: Trade Data

Main Suppliers - June 2009

2,2%

2,9%

3,7%

4,3%

4,5%

7,2%

8,2%

10,9%

11,2%

16,9%

0,0% 2,0% 4,0% 6,0% 8,0% 10,0% 12,0% 14,0% 16,0% 18,0%

India

Korea

Japan

USA

Turkey

Germany

Spain

Italy

China

France

Main Trading Partners

(3.21% in 2008)

(4.28% in 2008)

Bilateral Trade: Algeria - Turkey

0,9

1,9

3,4

0,7

1,7

1,3

2,42,3

0

0,5

1

1,5

2

2,5

3

3,5

4

2006 2007 2008 2009

$ B

illi

on

Import

Export

1111

Algerian Economy Overview:

+29% +21% +44% +48% +31% -30%

1212

BNP PARIBAS EL DJAZAIR

1313

BNP PARIBAS EL DJAZAIR Overview & Highlights: Key Figures

Ambitions: To be a “Reference Bank” in Algeria for corporate companies as well as for individuals.

Position: Universal bank in Algeria for Corporates, Private Individuals, Financial Institution and Investors.

Key Figures:

Capital : EUR 100 Million held by BNPPARIBAS S.A.

943 employees

49 branches with target to have 100 branches in 2010.

The first bank in Algeria to be rated by Fitch

Long term rate AAA (dza)

Short term rate F1 + (dza)

Long term rate evolution expectation Stable (dza)

Expected soon: ISO certification for Trade Back Office

Average Outstanding Customers Loans

5248

35

0

20

40

60

2007 2008 2009

DZ

D B

illio

n

Average Outstanding Customers Deposits

44

67

87

0

20

40

60

80

100

2007 2008 2009

DZ

D B

illio

n

1414

BNP PARIBAS EL DJAZAIR Overview & Highlights:

Expending Business Activity

An impressive evolution of Market Shares from 2004 to 2008

1,41%

1,02%

0,86%

0,67%

0,44%

1,76%

1,67%

0,85%

0,40%

1,19%

0,00%

0,50%

1,00%

1,50%

2,00%

dec.-04 dec.-05 dec.-06 dec.-07 dec.-08

Deposits

Loans

1515

BNP PARIBAS EL DJAZAIR Overview & Highlights:

Improving Results

Dynamic activity in Trade Finance :

Total Import Volume : 10% of national balance of payments (first half year 2009);

Imports Documentary Credits : market shares of 8% (first half year 2009);

International Guarantees : market shares of 6% (first half year 2009);

Improving Results

1,11,5

2,6

0

1

2

3

2006 2007 2008

DZ

D B

illio

n

Large Corporate

and

multinational desks

16

BNP PARIBAS EL DJAZAIR Overview & Highlights:

Corporate Banking

Dedicated teams with proven expertise in the commercial sector

More than 2 700 corporate clients and 11 corporate centres.

Strong synergies with BNP PARIBAS network and business line worldwide.

SME/SMI

Specialised Desks

Structured Finance

Desk

Large

governmental

Corporate desk

Turkish Desk

Italian desk

Trade Center

Cash Management

&

e-banking

LeasingDealing room

FX & treasury

1717

Algerian Foreign Exchange Regulation:

Investment Regulation

The principle:

Capital may flow freely in order to fund commercial transactions;

Profits generated by investments may be repatriated;

Recent modifications under finance law and central bank regulations:

Partnership of 49%-51% for foreign investment;

Capital increases for partnership must come from domestic services;

30% minimum local participation in capital of foreign investors, primarily importing companies;

National Board of Investment must approve any proposed foreign direct investment project;

Government has a right of preemption on all foreign shareholders transfer participations;

Financing for realization of the foreign, direct investments or in partnership, are set up by local financing,

exception of the constitution of the capital and particular case.

1818

Algerian Foreign Exchange Regulation:

Investment Regulation

Somme specific topics:

Liberalisation of numerous financial transactions through a new foreign exchange control regime.

Obligation all good import-related payments to be secured through a letter of credit (FOB value up to 100.000 DZD,

i.e. EUR 1 000).

Obligation to present “conformity certificate” for imports of goods.

Advance payments : maximum authorized 15% of invoice value, under advance payment guarantee.

Payment of services and dividends, authorised only for companies having a local output.

Issuance guarantee under specific forma.

Foreign currency account for Resident and Non Resident companies.

Specific accounts (INR and CEDAC) for Non Resident companies.

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Trade Center Algeria - Contacts

Mounir BELAIDENE

Senior Trade Manager

Tel: +213 (0)21 60 39 42 ext. 149

Mobile: +213 (0)7 70 32 63 57

mounir.belaidene@bnpparibas.com

Mohamed Riad OUADAHI

Trade Advisor

Tel: +213 (0)21 79 67 68

Mobile: +213 (0)7 70 27 55 46

mohamedriad.ouadah@bnpparibas.com

Youssef SETHI

Senior Trade Manager

Tel: +213 (0)21 60 39 42 ext. 149

Mobile: +213 (0)7 70 26 16 54

youssef.sethi@bnpparibas.com

Yasmine MAHIDDINE

Assistant

Tel: +213 (0)21 60 39 42 ext. 149

yasmine.mahiddine@bnpparibas.com

BNP Paribas El Djazaïr8 rue de Cirta

16 035 Hydra – Algiers

ALGERIA

Disclaimer

This document has been prepared by BNP PARIBAS for informational purposes only. Although the information in thisdocument has been obtained from sources which BNP PARIBAS believes to be reliable, we do not represent or warrant itsaccuracy, and such information may be incomplete or condensed. This document does not constitute a prospectus orsolicitation and is not intended to be and must not be the sole basis for any evaluation of the securities discussed herein. Allestimates and opinions included in this document constitute our judgement as of the date of the document and may besubject to change without notice. Changes to assumptions may have a material impact on any recommendations madeherein.

BNP PARIBAS or its affiliates may, from time to time, have a position or make a market in the securities mentioned in thisdocument, or in derivative instruments based thereon, may solicit, perform or have performed investment banking,underwriting or other services (including acting as adviser, manager or lender) for any company, institution or personreferred to in this document and may, to the extent permitted by law, have used the information herein contained, or theresearch or analysis upon which it is based, before its publication. BNP PARIBAS or its affiliates will not be responsible forthe consequences of reliance upon any opinion or statement contained herein or for any omission.

This document is confidential and is being submitted to selected recipients only. It may not be reproduced (in whole or inpart) to any other person without the prior written permission of BNP PARIBAS

© 2009 BNP PARIBAS. All rights reserved.