Alliance Assurances Launches Initial Public Offering at Algiers Stock Exchange

ALLIANCE ASSURANCES LAUNCHES INITIAL PUBLIC OFFERING AT ALGIERS STOCK EXCHANGE

Algiers-October 3rd, 2010. Alliance Assurances launches capital increase through an initial public offering at Algiers Stock Exchange. The period of subscription will last one month starting from November 2nd, 2010. The COSOB, the Algerian Capital Markets Authority has granted its visa N°02/2010 on August 8th, 2010 for this operation. The share price is 830 Algerian Dinars. This capital increase is a follow-on increase for the company which already increased its capital in 2009 to 800 millions Algerian Dinars. This capital increase will allow the company to meet the regulatory requirements of executive decree N 09-375 of November 16th 2009. The insurance sector is poised for growth and the innovative decision of Alliance Assurances to run the first private IPO, allows to share its performing results as well as the promising development of the insurance sector with its customers and new shareholders. This capital increase enables the company, besides the consolidation of the core activity, the set-up of two new subsidiaries: · A real estate asset manager which will maximize value for Alliance and third-party investors; · A venture capital vehicle dedicated to investments in sectors related to the insurance field. Alliance Assurances already has two subsidiaries: ATA, a leading subsidiary in assistance and a dedicated IT engineering subsidiary named ORAFINA. Purchase orders will be underwritten by a banking syndicate which includes Crédit Populaire d’Algérie, Banque Nationale d’Algérie, Banque Extérieure d’Algérie, Banque de Développement Local, Caisse Nationale d’Epargne et de Prévoyance-Banque, Banque de l’Agriculture et du Développement Rural, la Société Générale Algérie and BNP Paribas Algérie. This operation is backed by an important advertising campaign (press, TV, radio, posting, Web, event) to give the opportunity to the largest number to get the right information and to be able to subscribe. The motto of this campaign is " Become Shareholders and let's grow together” After the subscription period, Alliance Assurances' share will be listed at Algiers' Stock Exchange during the first quarter of 2011. The CPA, leading the banking syndicate and main intermediary, will provide the liquidity to the stock over a one-year period. According to the regulatory requirements, Alliance Assurances will communicate regularly its financial results and any critical data relative to its activity and its development.

ABOUT : Alliance Assurances Alliance Insurances is a joint-stock company created in July 2005 under the legal framework of laws 95-07 of January 25th, 1995 issued by the Ministry of Finance, related to the insurance sector. Alliance Assurances is a privately-owned multiline insurance company. Its customers' base exceeds 300 000 insurees, its total net premiums for 2009 represents 2,8 billions DZD with a net profit of 312 millions Algerian Dinars, providing a 39% return on equity. At the end of 2009, the paid-up of Alliance Assurances reached 800 millions Algerian Dinars. The company through this offering intends to raise its capital to 2,2 bln Algerian Dinars in November, 2010. Alliance Assurances is available countrywide.The company accounts at year-end 2009: 116 centres of production, structured in 8 main agencies, 35 direct agencies, 46 general agents and 27 appendices, through 35 Wilayas. The company aims at the traditional segments of the insurance sector as well as niches such as:  Private individuals and households insurance products.  Life insurance including savings schemes and health related products  Dedicated policies to SMEs/SMI and self-employed persons

Website: www.allianceassurances.com

COSOB The Commission of Organization and Surveillance of Stock-market transactions (COSOB) is the regulatory stock markets, established by the legislative decree N 93-10 of May 23rd, 1993. Role: The commission has been established to organize and oversee the securities and stock markets, with a focus on: · Protecting investors and their savings invested in any listed or traded securities · Ensuring transparency and efficiency of those traded securities Website : www.cosob.org THE ALGIERS STOCK EXCHANGE The SGBV, located in 27 Boulevard Colonel Amirouche Algiers, is a joint-stock company created by the legislative decree N 93-10 of May 23rd, 1993 and established on May 25 th 1997; it establishes a framework enabling professionals to trade all kind of securities. Website: www.sgbv.dz

THE BANKING SYNDICATE OR UNDERWRITERS  Le Crédit Populaire d’Algérie « CPA »: www.cpa-bank.dz  Banque de Développement Local « BDL »: www.bdl.dz  Banque de l'Agriculture et du Développement « BADR » : www.badr-bank.net  Banque Extérieure d'Algérie « BEA » : www.bea.dz  Banque Nationale d'Algérie « BNA » : www.bna.dz  Caisse d'Épargne et de Prévoyance « CNEP Banque » : www.cnepbanque.dz  Société Générale Algérie : www.sga.dz  BNP Paribas: www.algerie.bnpparibas.com