Projected health care deficit for 2006 assumed

PRESS RELEASE

After opinion given by the general secretary of social security accounting commission, the projected health care deficit for 2006 was set at 6 billion euros, disclosed in Decree no. 2006-1214 dated October 4, 2006 and published in the Journal Official issued on October 5, 2006 .

Considering the 0.3 billion euro adjustment, i.e. reflecting the difference between the projected deficit transfer made in 2005 and the actual deficit for this period, the net amount transferred to ACOSS (the central agency of social security organizations) on October 6, 2006 is 5.7 billion euros.

In total, as of October 6, 2006 CADES has assumed a total debt of 107.676 billion euros. For information, at the June 30, 2006 reporting date CADES had already amortized 30.6 billion euros of debt.

CADES: A BENCHMARK ISSUER IN THE EUROPEAN MARKET

Created in 1996, CADES is an administrative public agency under the authority of the French government. CADES enjoys the highest ratings by the principal international rating agencies (AAA/A1+, Aaa/P1, AAA/F1+), and a 0% Basel ratio weighting, which makes CADES one of the five largest non-government issuers in Europe .

CADES
LIGHTEN THE DEBT – BRIGHTEN THE FUTURE