Saint-Gobain Building Distribution will thus rely on Cetelem's know-how and expertise in order to expand its consumer finance activities, offering financing solutions tailored to the specific clientele of each distinct brand.

Concerning this agreement, Philippe Crouzet, Director of Saint-Gobain Building Distribution declared: “Everyday, our different brands welcome a great number of customers who wish to implement durable home improvement and renovation projects. With Projeo, we intend to increase our capacity in supporting their projects. An efficient range of finance solutions can represent an additional source of development for our brands.”

Cetelem consolidates its leading position in point of sale credit, in the household equipment sector, a market in which it has been an active player since its creation in 1953. It also supports the strong growth of the home improvement market.

According to François Villeroy de Galhau, Chairman and Chief Executive Officer of Cetelem, “partnerships represent with organic growth through innovation and acquisitions, one of the three pillars of our development. This agreement with Saint-GobainBuilding Distribution is completely in line with Cetelem’s strategy of creating value: the combination of our partners’ commercial contacts and Cetelem’s professional know-how in responding to households’ expectations with innovative products.”

CETELEM
Cetelem, a company of the BNP Paribas group, is leader in France and Continental Europe in consumer finance. For over 50 years, Cetelem, special partner in the trade market, has supported the development of major retail chains. Cetelem is also a partner of reference for banking establishments and insurance companies, to which it brings its know-how in matters of credit, back-office and risk. Cetelem is established in 25 countries.

January 23, 2006