2007 REGISTRATION DOCUMENT

CONSOLIDATED FINANCIAL STATEMENTS5Notes to the financial s tatements p repared in accordance with I nternational Financial Reporting S tandards as adopted by the European Union< Contents >2.e NET INCOME FROM OTHER ACTIVITIESYear to 31 Dec. 2007 Year to 31 Dec. 2006In millions of euros Income Expense Net Income Expense NetNet income from insurance activities 16,967 (14,091) 2,876 18,066 (15,767) 2,299Net income from investment property 790 (219) 571 735 (225) 510Net income from assets held underoperating leases 3,949 (3,237) 712 3,586 (3,018) 568Net income from property developmentactivities 189 (36) 153 136 (34) 102Other 706 (361) 345 607 (311) 296TOTAL NET INCOMEFROM OTHER ACTIVITIES 22,601 (17,944) 4,657 23,130 (19,355) 3,775➤NET INCOME FROM INSURANCE ACTIVITIESIn millions of euros Year to 31 Dec. 2007 Year to 31 Dec. 2006Gross premiums written 14,914 14,701Movement in technical reserves (6,247) (8,470)Claims and benefi ts expense (6,689) (6,462)Reinsurance ceded, net (43) (22)Change in value of admissible investments related to unit-linked business 916 2,509Other income and expense 25 43TOTAL NET INCOME FROM INSURANCE ACTIVITIES 2,876 2,29912345“Claims and benefits expense” includes expenses arising from surrenders,maturities and claims relating to insurance contracts. “Movement intechnical reserves” reflects changes in the value of financial contracts,➤OPERATING LEASESin particular unit-linked contracts. Interest paid on such contracts isrecognised in “Interest expense”.6In millions of euros 31 December 2007 31 December 2006Future minimum lease payments receivable under non-cancellable leases 4,011 3,404Payments receivable within 1 year 1,747 1,584Payments receivable after 1 year but within 5 years 2,230 1,781Payments receivable beyond 5 years 34 39Future minimum lease payments receivable under non-cancellable leases comprise payments that the lessee is required to make during the leaseterm.78910112007 Registration document - BNP PARIBAS 131