CREDIT AGRICOLE SA : CREDIT AGRICOLE SA records a goodwill impairment charge in its financial statements for Q4 2012

 CREDIT AGRICOLE SA : CREDIT AGRICOLE SA records a goodwill impairment charge
                   in its financial statements for Q4 2012

                                                    Montrouge, 1 February 2013

                                Press release

  Crédit Agricole S.A. records a goodwill impairment charge in its financial
                                  statements

     for the fourth quarter of 2012 to be published on 20 February 2013,

                 with no impact on its solvency or liquidity

These measures do not involve any cash outflows and do not affect the strength
                                 of the Group

As part of  the process  of preparing its  consolidated financial  statements, 
Crédit Agricole S.A. has carried out impairment tests on the goodwill  carried 
on its balance sheet. In accordance with IFRS standards, these tests are based
on the comparison between  the amounts of goodwill  on Crédit Agricole  S.A.'s 
books and the values in use of  the relevant assets. The calculation of  value 
in use is based on discounted cash flows.

These accounting charges  primarily reflect the  impact of tighter  regulatory 
requirements, hence  the  reduction  of  the value  in  use  of  the  relevant 
entities.  They  also  reflect   the  present  macro-economic  and   financial 
environment in the relevant countries and business lines.

The net  impairment  charge,  Group  share,  recognised  in  the  consolidated 
financial statements for the fourth quarter  of 2012 amounts to 2,676  million 
euros, broken down as follows:

  * Corporate and Investment Banking                        466 million euros 

  * Brokerage (Newedge)                                366 million euros 

  * Consumer finance                                923 million euros 

  * International retail and banking                        921 million  euros 
     

of which retail banking in Italy                         852 million euros

In addition, the value of  the bank's 20.2% interest  in BES has been  written 
down by 267 million euros.

These impairment charges have a negative  impact of the same amount on  Crédit 
Agricole S.A.'s net income Group share for the fourth quarter of 2012, but  do 
not affect either its solvency or  its liquidity as goodwill is already  fully 
deducted in the  calculation of  solvency ratios.  They do  not affect  Crédit 
Agricole S.A.'s cash position, as related disbursements were made at the  time 
of the acquisition of the relevant companies.

Furthermore, Crédit  Agricole S.A.  announces that  other non-operating  items 
affect its  financial statements  for the  fourth quarter  of 2012.  First,  a 
negative impact on revenues of about 850 million euros has been recognised  on 
the revaluation of its own debt  due to the improvement of funding  conditions 
during the quarter. Secondly,  a tax expense of  around 130 million euros  has 
been recognised in relation  to the exceptional 7%  tax on the  capitalisation 
reserve of the Group's insurance companies.

Lastly, as announced in its press release of 25 January 2013, Crédit  Agricole 
S.A. reiterates that the impairment of the carrying value of SAS Rue La Boétie
shares in the consolidated financial statements  of the Regional Banks has  an 
impact of some  160 million  euros on  their contribution  to Crédit  Agricole 
S.A.'s consolidated income.

                              CASA Goodwill - UK

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