10:13 <01881>, <01883>, <01885> & <01887> - Announcement (1) This announcement appears for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for the ELIs (as defined below). Each holder of the ELIs should make its own assessment of the risks and should consult to the extent necessary its own legal, financial, tax, accounting and other professional advisers in this respect prior to any subscription or acquisition of the ELIs. The Stock Exchange of Hong Kong Limited (the "Stock Exchange") takes no responsibility for the contents of this announcement, makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. SGA Societe Generale Acceptance N.V. (incorporated in the Netherlands Antilles with limited liability) and unconditionally and irrevocably guaranteed by Societe Generale (incorporated in France) Notice of Expiry relating to certain ELIs (as defined below) SGA Societe Generale Acceptance N.V. (the "Issuer") would like to remind ELI Holders (as defined in the terms and conditions of the ELIs (the "Conditions")) that the ELIs will mature on the Maturity Date (as referred to below). The ELIs are European Style and exercisable only on the Maturity Date. The ELIs are in global registered form and exercisable only in a Board Lot (as referred to below) or integral multiples thereof. Each ELI gives the holder thereof the right to receive from the Issuer (a) if the closing price (the "Closing Price") of one Share (as referred to below) (as derived from the Daily Quotation Sheet of the Stock Exchange on the Valuation Date (as referred to below)) is equal to or greater than the Strike Price (as referred to below), an amount ("Cash Amount") payable in Hong Kong dollars equal to the Notional Value (as referred to below); or (b) if the Closing Price is less than the Strike Price, the Share Amount (as referred to below). If ELI holders are entitled to receive delivery of the Share Amount, the Issuer (subject to a Market Disruption Event (as defined in the Conditions)) shall in respect of each ELI comprised in a Board Lot deliver to the holder thereof the aggregate Share Amount by crediting such Share Amount to the relevant ELI holder's stock account maintained in the Central Clearing and Settlement System ("CCASS") operated by Hong Kong Securities Clearing Company Limited ("HKSCC") on the Settlement Date (as referred to below), all in accordance with the General Rules and Operational Procedures of CCASS (the "CCASS Rules"). Exercise Expenses (as defined in the Conditions) relating to the transfer of the aggregate Share Amount which include, but are not limited to, stamp duty, transaction levy and trading fees which are the responsibility of ELI holders will be deducted by HKSCC from the relevant bank account designated by each ELI Holder in accordance with the CCASS Rules. Investors in ELIs are advised to consult with their brokers, securities dealers or custodians as to the settlement of the Exercise Expenses. If ELI holders are entitled to receive payment in cash, the Issuer (subject to a Market Disruption Event) shall in respect of each ELI comprised in a Board Lot pay the Cash Amount (less any Exercise Expenses (if any)) by crediting such amount to the relevant bank account designated by each ELI holder in accordance with the CCASS Rules on the Settlement Date. The Issuer has made the following arrangements regarding dealings in and transfers and withdrawal from listing on the Stock Exchange of the ELIs: 1. The last trading day of the ELIs on the Stock Exchange will be 3 May 2005. 2. Application will be made for the listing of the ELIs on the Stock Exchange to be withdrawn with effect from the close of business on the Maturity Date. Details relating to the expiry of the below equity linked instruments (together the "ELIs"):