Press Release

January 16, 2012

Solid increases in 2011 issue volume and revenue, both up 9.7%

Sustained 9.7% growth in issue volume in 2011 to €15.2 billion, continuing the trend established in

2010 and in line with the Group's medium-term annual growth target of 6% to 14%, reflecting strong momentum in Latin America and modest growth in Europe.

Solid 9.7% rise in 2011 revenue to €1.0 billion, with: