Rule 8.3 - CREDIT AGRICOLE S.A.

FORM 8.3

    DEALINGS BY PERSONS WITH INTERESTS IN SECURITIES REPRESENTING 1% OR MORE
              (Rule 8.3 of the City Code on Takeovers and Mergers)


1.   KEY INFORMATION

Name of person dealing        BARCLAYS PLC
(Note 1)
Company dealt in              CREDIT AGRICOLE S.A.
Class of relevant security    ORD EUR 0.03
to which the dealings being
disclosed relate (Note 2)
Date of dealing               22 MAY 2006

2.   INTERESTS, SHORT POSITIONS AND RIGHTS TO SUBSCRIBE

(a)  Interests and short positions (following dealing) in the class of relevant
security dealt in (Note 3)





(1) Relevant        16,651,930     (3.35%)  13,806,801     (2.78%)
securities
(2) Derivatives              0     (0.00%)     113,123     (0.02%)
(other than
options)
(3) Options and      1,665,953     (0.33%)  20,271,850     (4.08%)
agreements to
purchase/sell
Total               18,317,883     (3.68%)  34,191,774     (6.88%)


(b)  Interests and short positions in relevant securities of the company, other
     than the class dealt in (Note 3)

Class of                    Long                     Short
relevant
security:

                  Number                    Number
                                 (%)                       (%)
(1) Relevant
securities

(2) Derivatives
(other than
options)

(3) Options and
agreements to
purchase/sell

Total


  (c)  Rights to subscribe (Note 3)

Class of relevant security:   Details



3.   DEALINGS (Note 4)

  (a)  Purchases and sales

Purchase/sale Number of Securities Price per unit
                                   (EUR)
Purchase      671                  29.3834
Purchase      1,488                29.3834
Purchase      2,664                29.3491
Purchase      980                  29.3834
Purchase      58,322               29.3834
Purchase      18,747               29.3834
Purchase      91,558               29.3834
Purchase      7,165                29.3834
Purchase      10,313               29.3834
Purchase      12,814               29.3834
Purchase      7,561                29.3834
Purchase      6,396                Transfer
Purchase      2,700                29.3018
Purchase      37,270               29.4578
Purchase      1,450                29.3255
Sale          4,027                29.4989
Sale          2,876                Transfer
Sale          1,647                29.3108
Sale          2,000                29.4641

(b)  Derivatives transactions (other than options)

Product    Long/Short    Number of Securities  Price Per
name,      (Note 6)      (Note 7)              Unit (EUR)
e.g. CFD
CFD        Short         2,700                 29.3018
CFD        Short         37,270                29.4578
CFD        Short         1,450                 29.3255
CFD        Long          1,647                 29.3109
CFD        Long          2,000                 29.4641

(c)  Options transactions in respect of existing securities

Purchase/sale Number of Securities Price per unit
                                   (EUR)
Sale          6,787                0.3448
Sale          14,472               0.3448
Sale          41,543               0.3448

(i)  Writing, selling, purchasing or varying

Product name,   Writing,          Number of          Exercise  Type, e.g.      Expiry   Option money
e.g. call       selling,          securities to      price     American,       date     paid/received
option          purchasing,       which the option             European etc.            per unit (EUR)
                varying etc.      relates (EUR)


(ii) Exercising

Product name, e.g.  Number of           Exercise price per
call option         securities          unit (Note 5)




(d)  Other dealings (including new securities) (Note 4)


Nature of transaction Details           Price per unit
(Note 8)                                (if applicable)
                                        (Note 5)





4.   OTHER INFORMATION

Agreements, arrangements or understandings relating to options or derivatives


Full details of any agreement, arrangement or understanding between the
person disclosing and any other person relating to the voting rights of
any relevant securities under any option referred to on this form or
relating to the voting rights or future acquisition or disposal of any
relevant securities to which any derivative referred to on this form is
referenced.  If none, this should be stated.





Is a Supplemental Form 8 attached? (Note 9)                 NO


Date of disclosure                         23 MAY 2006
Contact name                               BARCLAYS COMPLIANCE
Telephone number                           020 7116 2913
If a connected EFM, name of
offeree/offeror with which connected
If a connected EFM, state nature of
connection (Note 10)


Notes

The Notes on Form 8.3 can be viewed on the Takeover Panel's website at
www.thetakeoverpanel.org.uk