* * * About Tocqueville Finance ( www.tocquevillefinance.fr)

PRESS RELEASE
Paris, 25 January 2012
La Banque Postale holds 90% of the share capital of Tocqueville Finance
La Banque Postale acquired an additional 15% stake in the share capital of Tocqueville Finance, a portfolio
management company specialised in value management. From this point forth, La Banque Postale holds
90% of the share capital of Tocqueville Finance.
Until 30 December 2011, La Banque Postale held 75% of the share capital of Tocqueville Finance. It was in 2009
that La Banque Postale was chosen among twelve French and international candidates for the disposal of a
majority of the share capital of Tocqueville Finance.
La Banque Postale's increase to 90% of the share capital of Tocqueville Finance occurred following the
departure of Marc Tournier, Deputy Managing Director, Director of collective management and co-manager of
the Ulysse funds, who decided to leave the management company and sell his 15% of shares within
Tocqueville Finance, in agreement with the bank.
The share capital is now divided between La Banque Postale (90%), employees/individual shareholders (5%)
and Tocqueville Asset Management, a management company based in New York (5%).
Thanks to the collegial management policy implemented within the management company since its formation,
which was reinforced over the last few years, the continuity of management has been ensured by the team in
place, particularly Jacques Burlot and Didier Roman, who now manage the Ulysse funds together.
Through this increase in share capital, La Banque Postale has reaffirmed its confidence in the Tocqueville
Finance teams and their knowledge in value management, based on the growth potential that discounted
stocks offer.
Like all of La Banque Postale's subsidiaries and equity investments specialised in asset management,
Tocqueville finance receives functional and financial support from the Bank, thereby cultivating the
characteristics that make management companies successful, notably team talent, entrepreneurial spirit and
management styles.
This original model unique to La Banque Postale is based on the choice of building an alliance of autonomous
management companies, straying from the traditional single management approach for everyone. It balances
the independence of each management, the power of each brand with the sharing of certain positions, and
the security provided by La Banque Postale.
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About Tocqueville Finance ( www.tocquevillefinance.fr)
Tocqueville Finance is a portfolio management company specialised in value management, created in
1991 at the initiative of Tocqueville Asset Management (TAM) in New York. The company is specialised in
private management and management in "value" equity mutual funds, aiming to take advantage of the growth
potential that discounted stocks offer. Tocqueville Finance's growth relies on a network of partners: Financial
Investment Advisors, Independent Wealth Management Advisors, as well as via Private Banks, Insurance
Companies, etc.
In shared management, Tocqueville Finance has nearly €1.1 billion in assets under management and
€325 million in private management as of the end of December 2011.
About La Banque Postale (www.labanquepostale.fr)
La Banque Postale, the banking subsidiary of Le Groupe La Poste, is a unique and unparalleled bank in the retail
banking market in France. True to its core values, namely general interest, trust and proximity, La Banque
Postale makes careful attentiveness to its customers a central part of its business. It supports its private
individual and corporate customers by offering them a long-term banking relationship, with a range of
accessible products and services at a reasonable price. It is continually adding to its range of products by
relying in particular on the expertise of its subsidiaries and partners, thereby entering new areas. La Banque
Postale is accessible 24/7 anytime and anywhere.
La Banque Postale:
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€5.215 billion in NBI
11.4 million postal checking accounts
10.04 million active customers
480,000 Corporate, Community, and Association customers
5,981 ATMs/cash and electronic payment machines in France
€322.7 billion in outstanding customer deposits
More than 6.6 million bank cards, i.e. 10.8% of the market
17,000 public outlets
(figures as of the end of 2010)
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Press contact:
La Banque Postale
David Lhôte
+33 (0)1 55 44 22 42
[email protected]
Tocqueville finance (Citigate Dewe Rogerson)
Laura Barkatz
+33 (0)1 53 32 84 73
[email protected]