SuMMeR 2011

ConTenTS :

Editorial ...................................... 2

New Era. New Tools ....................3

Interview Lode De Vrieze ............................. 4

Award Winning Reuters Pictures ......................... 5

Interview John Fennelly .............................. 6

Thomson Reuters Eikon for Wealth Management .............7

Events ......................................... 8

I n f O R M aT I O n Tells I n s I G h T Reveals

ConnECT

INTRODUCING THOMSON REUTERS EIkON

This is more than a new product, it's a new beginning.

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Dear Customers,

There's a principle some call the Butterfly Effect.

It says that when a butterfly flaps its wings in New York, you get rain instead of sunshine in Beijing. The effects of a random event can create a ripple felt around the world.

We believe in a different principle. One based on order, not chance.

One that says through knowledge, businesses and professionals everywhere can steer the course of events. Grow economies. Promote justice. Even save lives.

Over 20 million professionals rely on the intelligent information we provide to help them spark ideas and actions that positively affect millions more.

In business. In government. In the world in which we live.

Because the right information in the right hands leads to amazing things. That’s The Knowledge Effect.

And it's of course about getting the information to you at the right time so that you get to see the future first.

This newsletter is a channel to share information and to connect to each other with some challenging topics:

• yourviewonthemarket:thisisyourforumtoconnectwithyourcolleaguesandpeers;

• thebestpictures-fromReutersphotographers;

• thelatestupdateonourproductoffering;

• articlesontopicsthatmakethemarketmove;

• keyeventsintheBelgiumfinancialcommunity.

2010 was the beginning of a journey for Thomson Reuters with the launch of our new tools : Eikon, Insider and Elektron. Today, this newsletter focuses on Wealth Management.

With the summer knocking on our door, I wish you all in advance a fantastic holiday on behalf of the whole Belgium Thomson Reuters Team.

Feel free to share all your suggestions and thoughts by contacting me personally on Thomson Reuters Messaging or by e-mailing isabelle.thomas@thomsonreuters.com. Let's connect !

Warmest Regards,

Isabelle Thomas Senior Site Representative Thomson Reuters BelgiumHead of Client Specialist WM Europe, Middle East & Africa

Isabelle Thomas Senior Site Representative - Belgium Head of Client Specialist WM EMEA

“ The right information in the right hands leads to amazing things. ”

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EDITORIALWELCOME TO THE fIRST EDITIONOf CONNECT

Devin Wenig CEO, Thomson Reuters Markets

Today a new era begins: Thomson Reuters Eikon, the ultimate set of financial tools for a new generation of financial professionals is available worldwide.

Ourrevolutionarynewfinancialdesktopismorecomprehensive,moreintuitive and more collaborative than anything you've ever worked with. The launch of Thomson Reuters Eikon is just the beginning of our journey. We will continue to deliver innovation and flexibility in our productsandplatform,toservethenewrealitiesofthefinancialworldin which you operate. And the excitement isn't just on your desktop.

If youwould like to findoutmoreaboutThomsonReutersEikonorwould like to arrange a demo, please contact your Account team.

“Today'sgenerationoffinancialprofessionalsdemandtoolsthatareintuitive, rich in data and analytics, and highly connected, to give them an edge. Eikon is a fundamental shift for our company and our industry. It will constantly adapt to help customers thrive in this new era. The launch signifies another key milestone in our strategy tobuildanopenandconnectedglobalfinancialcommunity,”saidDevinWenig, CEO, Thomson Reuters Markets.

Thomson Reuters Elektron - What is it ?

1. Elektronaddressesthekeychallengesthefinancial industry faces inthe continuing drive towards trade automation. It will transform the waythefinancialmarketsconnectandgrow.

2. Elektronwillallowfinancialfirmsofallsizestotradefaster,connectto more markets and interact with each other across a global resilient cloud,whilstsignificantlyoperationalcosts.

3. A its core Elektron is an interactive, ultra high speed resilient globally networked cloud for both Thomson Reuters and our clients.

4. Integral to this service are strategically located proximity hosting sites inallmajorfinancialcentersandhighspeedconnectivitytoexecutionvenues's own co-location sites. Together they provide the fabric to link andinteractwithalloftheworld'sfinancialmarketsandparticipants.

5. Elektron will help unleash the genius of the financial marketsby providing bi-directional connectivity for communities on the secure network - allowing the open creation and exchange of data, transactions and ultimately increased business opportunities.

EIkON

ELEkTRON

INSIDER

REUTERS INSIDER VIDEO NEWS AND INSIGHT FOR FINANCIAL PROFESSIONALS TO THE POINT. PERSONALIZED. INTERACTIVE.

The Reuters Insider Network empowers you to deliver your video content into the workflow of hundreds of thousands of financial professionals worldwide. By leveraging this dynamic, multimedia platform of Reuters Insider you can distribute your research and market commentary straight to the desktops and mobile phones of Thomson Reuters customers and key decision makers in the investment community.

Become an Insider todayJoin the Reuters Insider Network Contact InsiderNetwork@thomsonreuters.com

Start watching nowApply at insider.thomsonreuters.com

Be a guest on Reuters InsiderContact our news desk at InsiderGuest@thomsonreuters.com

© Thomson Reuters 2010. All rights reserved. 47001084 0310

“ The launch signifies another key milestone in our strategy

to build an open and connected global financial community ”

Video news and insight. To the point. Personalized. Interactive.

ReutersInsider isapowerfulnewvideoexperiencethatgivesfinancialprofessionals the ability to go beyond the headlines and access in-depth analysis.Getliveandon-demandprogramming,createdspecificallyforinstitutional businesses, from Reuters and 100+ leading providers in the Reuters Insider Network. Manage it all through a personalized interface giving you control of what you watch.

Inside the markets.

Reuters Insider programming features commentary and analysis from our experts such as Reuters BreakingViews, IFR and Lipper in addition to leading industry newsmakers. Our programming is supported by over 2700 journalists in 190 countries, giving us an unparalleled global reach. The breadth and depth of our coverage provides you with a unique marketperspectivethatfinancialtelevisiondoesnot.

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NEW ERA NEW TOOLS

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THERE ARE OPPORTUNITIES ON THE LONGER TERM

After a strong 2010, sovereign debt fears in Europe and the upcoming end to quantitative easing in the United States have made 2011 more challenging, but thereareopportunitiesforthelongerterm,LodeDeVrieze,directoratPetercam Private Banking, told Reuters.

“Weareworriedabout theeffectsof thesecond roundofquantitativeeasing,”hesaid.“Whenthefirstroundwasstopped,financialmarketswentdown.Oncethe second round was announced they were boosted again. Adding to that the troubles surrounding Greece, we fear that we could enter a period which could be difficultforequitymarkets,”hesaid.

Petercam has reduced the initial overweight position it had on equities at the start of the year, especially in emerging markets.

De Vrieze said that while emergingmarket equities remained attractive in thelonger term, future interest rate increases in these markets will affect growth and inflation.

Petercam in general puts less emphasis on Eastern Europe, looking to China and Brazil as the most important emerging market growth engines, he said.

In general, Petercam looks for stocks with a strong dividend yield, but it remains cautious with banks.

DeVriezesaidthatwhilegrowthstocksdidwelllastyear,stocksthatpaydividendsare advancing in 2011.

“Institutional investors are once again showing some appetite for shares, but mainly for stocks that pay a dividend, as an alternative to the yield that one gets on bonds.Dividendyieldsaregettinghigherthanbondyieldsandthatisasituationwhen shares become interesting,“ he said.

DeVriezesaidthatthespreadbetweencorporatebondsandgovernmentbondshad almost completely disappeared, making them less attractive, which is why Petercam sold them in favour of sovereign paper.

“In the newspapers they pointed out that AB InBev can get cheaper money than the Belgian state,” he said, adding that margins on government bonds wereslightly better.

Petercam prefers German bonds, while also looking at more peripheral countries such as Belgium, Italy and to a limited degree Spain, he said.

“We have now also increased our cash part because we are a bit more cautious. We always have some gold as insurance, maybe 2-5 percent. Imagine if the European Unionwastocollapse,goldwouldincreaseevenmore,”hesaid.

DeVriezesaidPetercam also tracks larger themes, such as agriculture.

“Agrivalue will be a crucial topic in the long term. As emerging countries develop,

food patterns change as well. Where people were eating rice in the past, they are now demanding chicken or beef. But you need more rice to feed chicken and cattle. Theproblemisonlybecominglarger,”hesaid.

One of Petercam’s more cautious portfolios tracks companies with long-term promise.

“This fund tracks companies that will still exist in 20 years, that will still pay a dividendandbeprofitable.Therearen’tmanyofthose,buttheyexist,”DeVriezesaid.

“We also look at real estate, especially real estate investment groups. They have been hit hard by the crisis and they now have good valuations and an attractive yield,”hesaid.

Lode De Vrieze

Lode De VriezeDirecteurPrivateBankingPetercam

“ We are worried about the effects of the second round of quantitative easing. ”

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“ This picture has been taken during a NATO Summit in Lisbon last year in November. EU Council President Herman Van Rompuy attended the meeting as a guest representing the European Union. The picture was taken when the NATO leaders were gathering for the family photo. U.S. President Barak Obama was having a chat with some foreign leaders and NATO Secretary General Lars Lokke Ras-mussen, when President Van Rompuy arrived. Van Rompuy walked into their direction and

then suddenly, for some reason, he decided not to and walked behind the group. He went to the platform far from the group and stayed there alone. He stayed like this for quite a long moment which created a strange atmosphere. He looked a bit embarrassed. After a moment, when the French President Sarkozy arrived, he finally joined their group. It's a funny picture showing a man behaving strangely. He was supposed to join the group and share the mo-ment with them but decided to stay alone ! ”

The second award, won by Thierry Roge is the “nikon Press Photo Awards 2010, category Sport''. This pic-ture shows that making great sports pictures is not all about being in “the right place, at the right time'' but also about focusing on getting the best shot you can at any moment in the match.

JelenaJankovicofSerbiaservestoDanielaHantuchovaof Slovakia during the French Open tennis tournament at Roland Garros in Paris May 31, 2010.

Dexia Press Award Photography Yves Herman - photographer at Reuters Belgium

Nikon Press Awards Thierry Roge - Reuters Photographer Belgium

AWARD WINNING REUTERS PICTURESWe would like to share two award winning Reuters Pictures with you and focus on the work of our Belgian colleagues, Yves Herman and Thierry Roge.

Thefirstawardiscalled'DexiaPressAwardPhotography2011'.Therewere200entriessubmittedatDexiaforthe48th edition, all judged by preliminary juries made up of mediaprofessionals,experts,academicsandrepresentativesofDexia.28workswerenominatedforthefinalroundandYvesHermancameoutasthewinnerinthecategoryPhotography.AfterwinningtheDexiaPrize,Yvesalsowonthe1stprizeinNewscategory of the Nikon Press Awards 2011, with the same picture.

Find out more on : www.pictures.reuters.com

Yves Herman, photographer at Reuters

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I am delighted to announce the launch of Thomson Reuters eikon for Wealth Management, our new flagship desktop for wealth managers across europe and Asia. We see significant opportunity in the future growth of wealth management, with europe remaining the strategic hub.

But with continued industry growth come new challenges and increased competition for wealth managers. We live in an era where news and information are available anytime, anywhere - information is more prevalent than ever before. Wealth managers need to respond more quickly and more intelligently to clients. In this new era, Thomson Reuters Eikon for Wealth Management delivers new tools - enabling wealth managers to provide insightful, timely advice and a high-touch client service.

Eikon for Wealth Management leverages an intuitive, easy-to-use interface with powerful and intelligent search across news and in-depth, global coverage of all asset classes. Uniquely designed for wealth managers, Eikon for Wealth Management includes a range of highly personalized tools, providing insight and analytics as they relate to key client portfolios - all at your fingertips. Powered byThomson Reuters premium content sets such as IBES fundamentals, Lipper Funds coverage, Reuters News and Reuters Insider - Eikon for Wealth Management delivers true insight, not just information, keeping wealth managers ahead of their competitors.

TheEikon forWealthManagement launchmarks thefirst step inajourney - our future roadmap includes the integration of value-added workflow tools such as eXimius.

As Belgium is amongst the largest wealth management centers in the Euro zone, your feedback on Eikon for Wealth Management is critical. I am eager to hear directly from you so feel free to mail me on john.fennelly@thomsonreuters.com. You will find more about Eikon forWealth Management on the next page, with an exclusive interview withPeterSchramme,HeadofGlobalWealthManagementProducts,andMarkBrusadelli,ProductOwnerWealthManagementDesktop,Europe Middle East, Africa & Asia.

Warmest Regards

John Fennelly

“ As Belgium is amongst the largest wealth management centers in the Euro zone, your feedback on Eikon for Wealth Management is critical. ”

John Fennelly Global Managing Director Wealth Management

“ We see significant opportunity in the future growth of wealth management, with Europe remaining the strategic hub. ”

OUR NEW fLAGSHIP DESkTOP fOR WEALTH MANAGERS

With the release of eikon for Wealth Management on May 5, private banks and retail wealth managers in eMeA and Asia can now be counted among the growing list of Thomson Reuters eikon target customers. We sat down with Mark Brusadelli, Product owner Wealth Management Desktop and Peter Schramme, Head of Global Wealth Management Products, to discuss this new offering.

eikon for Wealth Management is hitting the market, happy ?

Mark Brusadelli : “ Extremely happy. It was a huge and demanding challenge for the all those involved - from development, QA through to the product and delivery team - so getting this point is very rewarding. It was very important that after the successful launch of the premium Eikon product the Wealth Management SBU of Thomson Reuters introduced a tailored offering for the Wealth Managers and Private Banks, which we did with Eikon for WealthManagement.”

Peter schramme : “ It is hard to underestimate the importance of this new offering. Eikon for Wealth Management is a key plank in our strategic objective to build the global footprint of the Thomson Reuters Wealth Management business. It will bring us into a completely new playing field. I believe that’s the way a marketleaderasThomsonReutersshouldbehave:runningupfront.”

Who is the target audience for eikon for Wealth Management ?

Mark Brusadelli : “ This offering should appeal to a broad audience, but our initial focuswill be staff in Front office functions. Theseusersincluderelationshipmanagers,financialadvisorsandprivatebankerswhoworkforfinancialservicesfirmsinEMEAandAsiathatprovide financial services or advisory services to retail investorsranging from mass affluent/HNW/UHNW. Firms types includePrivate Banks, Universal banks and Retail Wealth Management firmsacrossallourcustomersegments.”

What makes eikon for Wealth Management so different in your eyes?

Mark Brusadelli : “ Eikon for Wealth Management delivers everything finance professionals should come to expect from acompany like Thomson Reuters : an intuitive interface that allows them to easily navigate and access our high value content like Reuters News and the Lipper funds database, combined with the personalization features to make the product relevant to their workflow. The extremely good news is that through our Early Access and Beta programs, user feedback re-enforced these themes. They found the product extremely easy to use - the smarter search andfilteringbeingrecognizedasamajorstepchangecomparedto their previous experiences with our products. They also really appreciate how we have improved the integration and accessibility of our content through our new intelligent views and capabilities likePDFfactsheetsforequitiesandfundswhichwerespecificallydesigned based on customer feedback. This combination allows wealth managers to reduce their time to insight and spend more time providing value to their end clients.

Peter schramme : “ On a higher level, one can state that Eikon for Wealth Management brings indeed a contemporary user experience, but besides that also delivers on market drivers such assimpleDrillDowntodetails,TimeEfficiency:ProductivityandROI, Creativity and Flexibility. It is the combination of answers that we give to these expectations of the digital generation that makes ussuchastrongcontender.”

Mark Brusadelli : ”Eikon for Wealth Management is all aboutthe capabilities of translating complex market data into simple, comprehensive and easy to find information for our customers,accessible anytime, anywhere. We wanted this mantra of simplification to be reflected in the value proposition we nowpromote to the market. That means : Go to source - access to detailedandrelevantinformationfromthemosttrustedfinancialinformation provider, Intuitive experience - smarter search,

screening and navigation enabling you to reduce your time to insightand;Personalisation-yourownHomepageandenhancedFlex Sheets allowing you to make your experience relevant to your workflow. Our test users told us that if we were able to meet these market drivers we would be at the start of a successful global journey”

As the anytime, anywhere world of news and information increases, so do demands on wealth managers to have a broad perspective of the market so they can respond intelligently and quickly to clients. It is clear wealth managers require personalized, easy to use tools and timely, relevant content to compete in this new era. Eikon for Wealth Management was created specifically to enable wealthmanagers to leverage our technology to provide their clients with the best advice and service possible.

That shows a lot of confidence in the product, how come ?

Mark Brusadelli : “ We really focused on client needs and key workflow. As well as previews with our largest customers we worked closely with the Business Execution team to engage with customers through an extensive Early Access and Beta program - and they gave us open and honest feedback. As a result, we are prettyconfidentthatwecraftedsomethingthatresonateswiththerealdaytodayneedsintheWealthManagementmarketoftoday.”

Peter schramme : “ Indeed, the extensive Beta program reassured that launching Eikon for Wealth Management allows us to continue expanding globally with an innovative platform that enables Wealth Managers to build their business and enhance client service. EMEAandAsiaofferterrificopportunitiesforgrowthandWealthManagers in these regions are ready for a solution which offers the global content and workflow capabilities that only Thomson Reuterscanprovide.”

What is the go to market strategy ?

Mark Brusadelli : “ We are working very closely with our Wealth Management Client Specialists (led by Isabelle Thomas in EMEA) and the front line to focus on new business opportunities across our target customer segments in the short term. Surprisingly we remainveryunderpenetratedsothereissignificantopportunitytogrow. Later this year we will also start up campaigns to commence ourRWMmigrations.”

How will eikon for Wealth Management further evolve ?

Peter schramme : “ If there is one thing that I would like the people to remember from the launch of Eikon for Wealth Management thatitisa“platform”,meaningthatitallowsustofurtherenrichthe content, extend the vertical capabilities and further excel in user experience with regular updates made available to the users without any effort. It is the start of a long term journey and forms the center piece of the global Wealth Management strategy of ThomsonReuters.”

Mark Brusadelli : “ The great news is this is only the start and we are already evolving the product. Over the coming months we are planning a number of key content, functional and performance enhancements. Much of this will be focused on core market monitoring and investment selection workflow but we are starting to investigate how we can build additional tools to support the broader workflow of our end users. We will be adding support for mobile devices. This is a logical and also necessary next step in responding to our users’ experience in today’s anytime, anywhere world of news and information. By the end of the year our customers will be able to access key market data and news via their BlackBerry, iPad and iPhone.

Making the right investment decisions today and anticipating events that might impact your client portfolios tomorrow requires the right mix of content and capabilities. Thomson Reuters eikon for Wealth Management is your go-to source for critical market monitoring content and analysis. It is tailored to your workflow and features smarter search and intelligent tools that provide instant access to indispensable, high value content.

With a single glance at your personalized home page, you can stay one step ahead of the market. So when an unexpected event unfolds, a major merger takes place, or a company replaces its Ceo, you can quickly assess your client portfolios and recommend the right moves. Thomson Reuters eikon for Wealth Management enables you to navigate effortlessly from news to analysis to communication to action - whenever, wherever you do business.

InTeLLIGenTLY DeSIGneD FoR YouR WoRKFLoW

THe MoST CoMPLeTe VIeW

PeRSonALIZeD, SMARTeR SeARCH

YouR SouRCe FoR DeePeR MARKeT InSIGHT

GeT THe BRoADeST VIeW oF THe MARKeTS

LIPPeR InVeSTMenT FunD InTeLLIGenCe

AnALYSe InVeSTMenT PeRFoRMAnCe

MoBILe SoLuTIonS

FoR WEALTH MANAGEMENT

“ Eikon for Wealth Management delivers everything finance professionals should come to expect from a company ! ”

“ The great news is this is only the start & we are already evolving the product ! ”

Personalize your experience and organize the content that matters to you.

Tailor your home page for fast access to news, market data and more.

Learn more about Thomson Reuters Eikon for Wealth Management at our website :http://thomsonreuters.com/products_services/ financial/youreikon

THOMSON REUTERS EIkON

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Thomson Reuters (Markets) S.A., Belgium Branch Marnixlaan / Avenue Marnix 17 – 3rd floor · B - 1000 Brussels

TRADITION CONTINUES !THOMSON REUTERSCLIENT PARTY 2011Remember our Client Party in 2009 @ Mirano ? Great atmosphere, ideal place to connect ! Book October 13 in your agenda and spread the word. Thomson Reuters Belgium invites you for a great party with food & drinks, networking & dancing !

Check out www.spirito-martini.com to see where we will be partying this year on October 13 !

SAvE THE DATE CLIENT PARTY 13/10/2011