Banque Marocaine - CIC buys an extra 5% in BMCE

RNS Number:6848Q
Banque Marocaine Du Commerce Exteri
25 March 2008

THE CREDIT MUTUEL-CIC GROUP REINFORCES ITS SHAREHOLDING IN THE CAPITAL OF BMCE
BANK, THROUGH THE ACQUISITION OF AN ADDITIONAL EQUITY STAKE OF 5%.

On Tuesday, March 25, 2008, Credit Industriel et Commercial-CIC, the Credit
Mutuel Group's subsidiary has increased its shareholding in the capital of BMCE
Bank with the acquisition of an additional equity stake of 5%, bringing it up to
15%.

This transaction represents an investment of MAD 2.4 billion, an equivalent of
about 209 million Euros, at a share price of MAD 3,000.

CIC's initial equity participation in the capital of BMCE Bank goes back to June
7, 2004, after the acquisition of 10% in the capital, under a partnership
agreement sealed between the two banks. The partnership covers all areas of
activity, both in the commercial and investment banking, to meet the ambitions
of BMCE Bank and CIC in terms of international development, particularly in the
African continent.

Through this additional investment, the major foreign shareholder reaffirms its
confidence in the potential growth of the Bank and in cross synergies.

Contact: General Secretariat
Tel: 00212-22-49-80-10/11
Fax: 00212-22-26-46-55
Web site: www.bmcebank.ma

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