2007 REGISTRATION DOCUMENT

5 NotesCONSOLIDATED FINANCIAL STATEMENTSto the financial s tatements p repared in accordance with I nternational Financial Reporting S tandards as adopted by the European Union< Contents >Name (A) (B) (C) (D) Country MethodGroup votinginterest (%)Group ownershipinterest (%)Klépierre (continued)Les Boutiques de Saint Maximin 1 France Full 43.00% 22.00%Movement Poland SA 1 Poland Full 100.00% 51.17%Noblespecialiste 1 France Full 100.00% 38.79%Progest 1 France Full 100.00% 51.17%Restorens 1 France Full 100.00% 38.79%Ruda Slaska Plaza SP z.o.o Poland Full 100.00% 51.17%Rybnik Plaza SP z.o.o 2 Poland Full 100.00% 51.17%SA Brescia 5 FranceSA Cap Nord 1 France Full 100.00% 42.98%SA Cinéma de l’Esplanade Belgium Full 100.00% 51.17%SA Coimbra Belgium Full 100.00% 51.17%SA Delcis CR Czech Rep. Full 100.00% 51.17%SA Devimo Consult Belgium Equity 35.00% 17.91%SA Finascente 6 Portugal Full 100.00% 51.17%SA Foncière de Louvain la Neuve Belgium Full 100.00% 51.17%SA Galiera Parque Nascente 6 Portugal Full 100.00% 51.17%SA Gondobrico 6 Portugal Full 100.00% 51.17%SA Klecar Foncier Espana Spain Full 100.00% 42.47%SA Klecar Foncier Iberica Spain Full 100.00% 42.47%SA Klelou Immobiliare Portugal Full 100.00% 51.17%SA Kleminho 2 Portugal Full 100.00% 51.17%SA Klenor Immobiliaria Portugal Full 100.00% 51.17%SA Klé pierre France Full 51.27% 51.17%SA Klé pierre Athinon AE Greece Full 100.00% 42.47%SA Klépierre Foncier Makedonia Greece Full 100.00% 42.47%SA Klé pierre NEA Efkarpia AE Greece Full 100.00% 42.47%SA Klé pierre Peribola Patras AE Greece Full 100.00% 42.47%SA Klé pierre Portugal SGPS Portugal Full 100.00% 51.17%SA Klé pierre Vallecas Spain Full 100.00% 51.17%SA Klé pierre Vinaza Spain Full 100.00% 51.17%SA Kletel Immobiliaria Portugal Full 100.00% 51.17%SA Place de l’accueil Belgium Full 100.00% 51.17%SA Poznan Plaza Poland Full 100.00% 51.17%SA Reze Sud 1 France Equity 15.00% 7.67%SA Sadyba Center Poland Full 100.00% 51.17%SA Sogecaec Portugal Full 100.00% 51.17%SARL Belvedere Invest 1 France Full 62.00% 31.72%(*) French subsidiaries whose regulatory supervision falls within the scope of the consolidated Group, in accordance with article 4.1 of CRBF regulation 2000.03.(A) Movements for 6 months to 30 June 2006(B) Movements for 6 months to 31 December 20061. Acquisition2. Entity newly incorporated or passing qualifying threshold3. Disposal4. Deconsolidation5. Merger between consolidated entities6. Change of method – Proportionate method to full consolidation7. Change of method – Full consolidation to equity method(C) Movements for 6 months to 30 June 2007(D) Movements for 6 months to 31 December 20078. Change of method - Equity method to full consolidation9. Change of method - Full consolidation to proportionate method10. Change of method - Equity method to proportionate method11. Reconsolidation12. Entities consolidated using a simplified equity method (non-material)13. Business transfers due to the creation of Italian retail banking segment12345678910112022007 Registration document - BNP PARIBAS