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01. MAIN DOCUMENTThe following table presents the portfolio’s interest raterisk exposure at December 31 st , 2009 by maturity:INTEREST RATE RISK EXPOSUREBY MATURITY(in thousand euros)-< 1 year < 2 yearS < 3 yearS < 4 yearS < 5 yearS > 5 yearS TotalBonds exposed to fair value risk 13,802 30,641 25,178 24,188 27,610 157,420 278,839Bond UCITS exposed to fair value risk 21 21Derivative assets exposed to fair value riskOther financial assets exposedto fair value riskFinancial instruments exposedto fair value risk13,802 30,641 25,178 24,188 27,610 157,440 278,859Bonds exposed to cash-flow risk 6,758 2,622 3,452 27,579 40,411Bond UCITS exposed to cash-flow riskDerivative assets exposed to cash-flow riskOther financial assets exposedto cash-flow riskFinancial instruments exposedto cash-flow risk6,758 2,622 3,452 27,579 40,411TOTAL PORTFOLIO 13,802 37,399 27,800 27,639 27 ,610 185,019 319,271% 4.3 % 11.7 % 8.7 % 8.7 % 8.6 % 58.0 % 100.0 %Credit riskAPRIL GROUP is exposed to a credit risk through theissuers of bonds held in its portfolio. However, this risk islimited thanks to the stringent selection of issuers (over78% of issuers for bond assets are rated at least AA byMoody’s and/or Standard & Poor’s).The following table presents a breakdown of the bondportfolio at December 31 st , 2009 by issuer rating:INFORMATIONON THE COMPANY’S ACTIVITIESCREDIT RISK EXPOSUREBY ISSUER RATING(in thousand euros)N.D. AAA AA A+ to A-BBB+to BBB-< BBB- TotalBonds exposed to credit risk 173,967 76,231 41,503 20,818 6,731 319,250Bonds UCITS exposed to credit risk 21 21PART0138TOTAL BOND PORTFOLIO 21 173,967 76,231 41,503 20,818 6,731 319,271% 0.0 % 54.5 % 23.9 % 13.0 % 6.5 % 2.1 % 100.0 %