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The decision puts an end to the in-depth investigation carried out by the European Commission. The long term viability of Dexia has been confirmed by the European Commission, which also recognised Dexia’s restructuring plan and acknowledged its significant achievements.

In line with the European Commission decision, Dexia has accelerated its deleveraging
programme over the last months. A total of EUR 17 billion of bonds and non strategic loans have already been sold in 2010 after a total sale amount of EUR 18 billion in 2009. Following the sale of FSA Holdings Ltd in July 2009 and of the stake in Assured Guaranty Ltd in March 2010, other entities or financial participations such as Crédit du Nord, Dexia Epargne Pension and SPE, were also sold. The divestment programme is therefore on track and the remaining sales will be executed according to the restructuring plan.

Over the last 18 months, the Group’s risk profile and liquidity situation have also improved thanks to the swift execution of the long-term funding programme and the adjustment of Public and Wholesale Banking production to the long-term funding capacities of the Group. The short-term funding requirement has been reduced by around EUR 110 billion at the end of May and the Group’s current funding mix has been using less State guaranteed and central banks funding. These constant efforts have allowed Dexia to fully exit the State guarantee for its funding by theend of June 2010 as agreed with the European Commission.