March 15, 2006

Approval of proposal by Société Générale

For immediate release

The Federal Reserve Board on Wednesday announced its approval of the notice under section 4 of the Bank Holding Company Act by Société Générale, Paris, France, to engage in physical commodity trading activities on a limited basis as an activity that is complementary to the financial activity of engaging regularly as a principal in commodity derivatives.

Attached is the Board's Order relating to this action.

Last Update: March 15, 2006