One of WIOF’s fund managers, CCR-Actions S.A., („CCR Actions“),

One of WIOF’s fund managers, CCR-Actions S.A., („CCR Actions“), a partof Caisse Centrale de Réescompte („CCR“) is set to become, in the firstquarter of 2008, a 100 %-held subsidiary of UBS Global Asset Management(France) SA, a leading wealth manager and one of the leading asset managersworldwide, subject to regulatory approvals. The new group with a combined totalof close to EUR 25 billion (EUR 2 trillion globally) assets under managementconsequently ranks among the largest players in France after branch banking.

The joining of the CCR Group with UBS will help build the basis for anenriched and updated commercial offer on the French market and enable the CCRGroup to reinforce the competitiveness of its asset management product range.The UBS Group is present on all the major financial markets and has over80,000 employees throughout the world. UBS is rated Aaa by Moody’s, AA+ byFitch Ratings and AA by Standard & Poor’s.

At the same time this fusion will further enhance the management of the WIOFSub-fund that it has under its wings.