CNP Assurances — Capital/Financing Update 2010

Sep 10, 2010

This press release may not be distributed or published, directly or indirectly, in the United States, Canada, Australia or Japan.

Paris, September 10, 2010

Press Release

CNP Assurances announces the successful completion of a subordinated debt issue and publishes the prospectus approved by the Autorité des Marchés Financiers

CNP Assurances placed € 750 millions worth of subordinated notes due September 14, 2040 with an initial early redemption option at par on September 14, 2020.

The issue was placed on the institutional market and was twice oversubscribed.

The notes will pay interest at a fixed rate of 6% representing an initial spread of 347,2 basis points. From 2020, they will pay interest at a variable rate with a 100-basis point step-up.

The settlement date is scheduled for September 14, 2010.

The notes have been rated A by Standard & Poor's using the methodology applicable to subordinated debt.

The issue has been structured so that the notes are eligible for inclusion in solvency capital under insurance regulations and Standard & Poor's rating rules, within the respective limits. They also comply with the latest guidance concerning Solvency II Tier 2 capital.

The purpose of the issue is to support the development of CNP Assurances's business. The issue's success is further confirmation of French and international investors' interest in the Group and their confidence in its financial strength.

Copies of the prospectus approved by the Autorités des Marchés Financiers (AMF) under visa no. 10-314 can be obtained free of charge from CNP Assurances, 4 place Raoul Dautry, 75716 Paris Cedex 15, France. It can also be downloaded from the Company's website www.cnp.fr and the AMF website www.amf-france.org.

This press release may not be distributed or published, directly or indirectly, in the United States, Canada, Australia or Japan.

This press release, as well as the consolidated financial statements and the management report, are available in French and English on the CNP Assurances web site, www.cnp-finances.fr.

Press Relations
Tamara Bernard
 01 42 18 86 19
E-mail: servicepresse@cnp.fr

Investor and Analyst Relations Jim Root 01 42 18 71 89 Jean-Yves Icole 01 42 18 94 93 E-mail: infofi@cnp.fr

Disclaimer: Some of the statements contained in this press release may be forward-looking statements referring to projections, future events, trends or objectives which, by their very nature, involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated in such statements by reason of factors such as changes in general economic conditions and conditions in the financial markets, legal or regulatory decisions or changes, changes in the frequency and amount of insured claims, particularly as a result of changes in mortality and morbidity rates, changes in surrender rates, interest rates, foreign exchange rates, the competitive environment, the policies of foreign central banks or governments, legal proceedings, the effects of acquisitions and the integration of newly-acquired businesses, and general factors affecting competition.

Further information regarding factors which may cause results to differ materially from those projected in forward looking statements is included in CNP Assurances' filings with the Autorité des Marchés Financiers. CNP Assurances does not undertake to update any forward-looking statements presented herein to take into account any new information, future event or other factors.

Distribution of this press release may be restricted in some countries. Any person in possession of this press release should inform themselves about and comply with any local restrictions.

This press release and the information it contains do not constitute an offer to sell or subscribe, or a solicitation of an order to buy or subscribe the notes in any country, particularly the United States.