FLASH NEWSJuly 2010

Change of names of the four funds in the Performance range

What is the aim of this Performance range? The aim is to carry out opportunistic investment that seeks to take advantage of all market configurations, while endeavouring to preserve assets in the current market context and improving the investor’s overall risk/return profile.

The selected solutions aim to deliver positive performances that are as independent as possible of market trends, combined with increased risk control: the managers are able to generate positive returns even when markets fall, by implementing short or arbitrage strategies.

These five funds (in the Performance range) are similar in terms of their constant pursuit of performance and the flexibility of their investment process, but differ in terms of their specific strategies in distinct investment universes:

• The two funds Natixis Performance Quant Bond 12 and 18 mois implement arbitrage and directional strategies on fluctuations in the eurozone yield curve (12- and 18-month horizons respectively);

• Natixis Performance Swap Arbitrage implements arbitrage strategies on swap curves of OECD rates (24-month horizon); • Natixis Performance Active Allocation (formerly Natixis Absolute Multistratégies) implements arbitrage and directional strategies across all asset classes (24-month horizon).

In order to allocate the risk envelope among the various strategies, each manager carries out dynamic risk management by means of VaR (probability of a maximum loss under normal market conditions). All these strategies are also calibrated (stop-loss and take-profit), so as to comply with the specified risk limits and maximize the risk/return profile.

Following the expansion of the range to include mutual funds with directional engines, the Absolute Performance(1) range launched in 2008 is being renamed the Performance range. The four mutual funds in the range are also being renamed (the ‘Absolute’ prefix is being replaced by ‘Performance’).

New name Old name Performance target net of management fees (I share Euro):

Average & max* indicative annual volatility

Investment horizon

Natixis Performance Active Allocation

Natixis Absolute Multistratégies Eonia capi. + 2% 3.5% - 7% 24 months

Natixis Performance Swap Arbitrage

Natixis Absolute Swap Arbitrage Eonia capi. + 2% 1.5% - 3% 24 months

Natixis Performance Quant Bond 18 mois

Natixis Absolute Quant Bond 18 mois Eonia capi. + 1% 1.5% - 2.2% 18 months

Natixis Performance Quant Bond 12 mois

Natixis Absolute Quant Bond 12 mois Eonia capi. + 0.6% 1.3% - 2.2% 12 months

CORPORATE AND INVESTMENT BANKING / INVESTMENT SOLUTIONS / SPECIALIZED FINANCIAL SERVICES

www.am.natixis.com

* under normal market conditions

(1) Notion which the AMF limits to mutual funds which can demonstrate a permanent and significant non-directional bias.

www.am.natixis.com

FLASH NEWS / July 2010

Natixis Absolute Multistratégies is being renamed Natixis Performance Active Allocation for the sake of clarity, since it provides an attractive solution for investors wishing to benefit from an opportunistic allocation across all asset classes, with a robust process combining fundamental and systematic approaches. It was formed on 6 March 2009 and by 30 June 2010 had risen by 2.46%, compared to 0.62% in the case of capitalized Eonia, with a volatility of 2.69%(2) and above €60 million of assets under management.

Finally, it should be recalled that Natixis Performance Swap Arbitrage will soon have a 24-month track record. It was formed on 12 September 2008 and by 30 June 2010 had risen by 3.28%, compared to 1.93% in the case of capitalized Eonia, with a volatility of 1.42%(2) and almost €110 million of assets under management.

(2) Figures mentioned refer to previous years. Past performance does not guarantee future results (Source : Natixis Asset Management). The funds mentioned in this document have received the approval of the French Financial Market Authority (AMF). The risks and costs related to investment in a fund are described in the fund’s prospectus. The prospectus and the periodical reports are available on request from Natixis Asset Management.