SG Hambros announces Board changes

SG Hambros Bank Limited (‘SG Hambros’), part of SG Private Banking, announces the following board changes, effective 1st October, 2007:

• The Hon Nicholas Assheton retires as a non-executive Director and Chairman of the Board

• Eric Barnett, currently Group Head of Private Banking will become CEO

• Jean-Pierre Flais, currently Group Chief Financial and Operating officer (COO) will become Deputy CEO

Nicholas Assheton has made an enormous contribution to SG Hambros since he became Chairman in 2000 and he retires following 50 years in the City, initially with Montagu Loebl Stanley & Co and then as Deputy Chairman of Coutts & Co.

Warwick Newbury, who steps down as CEO after more than 40 years in private banking, spent 30 years with Coutts and nearly 10 years as the first CEO of SG Hambros Bank Limited following the acquisition of Hambros Bank Limited by Société Générale in 1998. He has been responsible for the successful integration of SG Hambros into SG Private Banking.

Together with Eric Barnett and Jean-Pierre Flais, Warwick Newbury has built a strong and sustainable wealth management business which has enjoyed very strong growth over recent years following an initial reshaping of the activity and substantial investment in new hires. SG Hambros recently announced its acquisition of ABN AMRO Private Banking London.

Eric Barnett joined Hambros Bank Limited in 1986. He then moved to the Guernsey office in 1996 as Deputy Managing Director and Head of Private Banking, continuing in this role following Société Générale’s acquisition of Hambros Bank Limited in 1998.

Jean-Pierre Flais joined Societe Generale’s General Inspection in 1987 as an internal auditor, before becoming Regional Manager for UK and South East Asia in the Institutional Investors division. He then moved to London and joined SG Hambros as Chief Financial Officer in 1998.

For further information, please contact::

Alexandra O'Sullivan
Group Marketing and Communications Manager
SG Hambros Bank Limited

Tel: + 44 (0) 20 7597 3029
E-mail: alexandra.osullivan@sghambros.com

Registered in England No. 964058
Authorised and regulated by the Financial Services Authority

NOTES FOR EDITORS

SG Hambros

SG Hambros, part of SG Private Banking, is a private bank providing a comprehensive wealth management service. Through private bankers it provides investment management, financial planning, trust and banking services to some 11,000 clients. The SG Hambros Group employs more than 400 people and manages over £5 billion of assets under management from its offices in the UK , Guernsey , Jersey , Gibraltar and The Bahamas. www.sghambros.com

SG Private Banking

SG Private Banking, with offices in 21 countries, is among the market leaders in France , and has a strong presence in the United Kingdom , Luxembourg , Switzerland , Belgium . In Asia , SG Private Banking ranks among the top 10 players.

Almost 1875 professionals manage EUR55.1 billion in assets for around 75,000 clients ( June 2005). SG Private Banking's growth strategy is based on a business model that encompasses a global approach to client requirements through financial advice and asset engineering. It offers clients a broad range of sophisticated products and services that cover differing needs and include the best products available on the market, based on an open structure. www.sgprivatebanking.com

Société Générale Group

Société Générale is one of the largest financial services groups in the euro-zone. The Group employs 92,000 people worldwide in three key businesses:

•  Retail Banking & Financial Services: Société Générale serves more than 17 million individual customers
worldwide.

•  Global Investment Management & Services: Société Générale is one of the largest banks in the euro-zone in terms of assets under custody (EUR 1,180 billion, March 2005) and under management (EUR 326 billion, March 2005).

•  Corporate & Investment Banking: SG CIB ranks among the leading banks worldwide in euro capital markets, derivatives and structured finance.

Société Générale is included in the four major socially-responsible investment indexes. www.socgen.com