Post - Stabilisation Notice

RNS Number:8579J
Credit Agricole S.A.
03 October 2006


Name of Stabilisation Manager:     Calyon



                         Post-Stabilisation Disclosure

Not for distribution, directly or indirectly, in or into the United States or
any jurisdiction in which such distribution would be unlawful.


                                      OTP
                    Confirmation of Stabilisation Undertaken


Calyon (contact: Robert Gardiner or Olivia LAU) hereby gives notice that the
following stabilisation activity (within the meaning of the rules of the
Financial Services Authority) was undertaken by the Stabilising Managers named
below in relation to the offer of the following securities.


Issuer:                           OTP

Guarantor (if any):               N/A

Aggregate nominal amount:         EUREuro 300,000,000

Description:                      5.27% Notes due 19 September 2016 (XS0268320800)

Stabilising Managers:             Calyon, Broadwalk House, 5 Appold Street, London, EC2A 2DA

                                  Citigroup, 33 Canada Square, Canary Wharf, London E14 5LB

Stabilisation Started:            12th September, 2006

Stabilisation Ended:              13th September, 2006




Stabilisation activity was undertaken within the following price ranges on the
following dates:


Date                                Lowest Price at which securities    Highest price at which securities
                                             were stabilised                     were stabilised
13th September                                    100.3%                            100.359%
14th September                                  No trades                           No trades



This announcement is for information purposes only and does not constitute an
invitation or offer to underwrite, subscribe for or otherwise acquire or dispose
of any securities of the Issuer in any jurisdiction.

This announcement is not an offer of securities for sale in the United States.
The securities have not been, and will not be, registered under the United
States Securities Act of 1933 and may not be offered or sold in the United
States absent registration or an exemption from registration.  There has not
been and will not be a public offer of the securities in the United States.

END


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            The company news service from the London Stock Exchange
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