Initial disclaimer 

This internet site contains information relating to certain securities issued by Dexia Credit Local. The dissemination of this information is restricted in certain jurisdictions by law. Visitors to this site are expected to inform themselves of and abide by those restrictions. 

The contents of this internet site have been prepared for informational purposes and are not an offer to buy or sell or a solicitation of an offer to buy or sell any securities issued by Dexia Credit Local.