Investor Presentation

2007 Results

Cars Alliance 2005-1Most Innovative

Asset Backed Deal

Cars Alliance 2002-1Consumer Finance

Deal of the Year

Cars Alliance 2002-1Best Securitization

of 2002

RCI Banque/ Renault3rd Best Corporate Issuer in 2007

2

Disclaimer

This presentation is not, and is not intended to be, an offer to sell any security or the solicitation of an offer to purchase any security.

The following presentation has been prepared to provide information about RCI Banque; Information have been obtained from sources believed to be reliable. None warrant its completeness or accuracy.

This presentation may contain forward-looking statements, in particular statements regarding our plans, strategies, prospects and expectations regarding our business. You should be aware that these statements and any other forward-looking statements, in this presentation, only reflect our expectation and are not guarantees of performance near and in the future.

These statements involve risks, uncertainties and assumptions about events or conditions and is indented only to illustrate hypothetical results under those assumptions. Actual events or conditions are unlikely to be consistent with, and may differ materially from, those assumed. In addition not all relevant events or conditions may have been considered in developing such assumptions. Accordingly, actual results will vary and the variations may be material. Prospective investors should understand such assumption and evaluate whether they are appropriate for their purposes.

3

Key Figures

RCI Banque activity and results

Financial Policy

4

A Car Finance activity with no direct or indirect links with

subprime activity

No activity in the US.

Cost of risk under control, resulting from stable origination, underwriting and collection processes.

93 % of assets in 10 western European countries (mainly France, Germany, UK, Spain and Italy).

No off-balance sheet exposure to any credit risk.

A prime auto loans portfolio and a sound liquidity position

A strong liquidity position

3,1 Bn€ liquidity reserve at 2007 end: + M€ 5 361 Committed back-up lines.

+ M€ 592 Cash.+ M€ 1 825 ECB eligible collateral. - M€ 4 701 CD/ECP outstanding.

Funding of assets with longer dated liabilities.

No drawing on back-up lines.

ABS programs with long WAL, no repayments due in 2008 and a potential increase in ECB eligible outstanding (retained ABS notes) in case of portfolio growth.

5

Customer financing (1.8 to 2 years WAL)

• Pricing is based on “cost + margin” approach to achieve ROE target• Increased credit margins are compensated by the drop in absolute level of interest

rates.

• The banking environment has allowed for significant price increases in the last six months, without significant impact on new business.

Floor plan financing

• Dealer financing is generally indexed on Euribor 3 months.

• Short term cost of funds have remained stable (over Euribor) even if margins over EONIA have widened.

No impact of the liquidity crisis on profitability

6

16,0

17,9 17,7 17,7

14,5

17,2

4,65,5

5,0 4,95,5 5,3

10,3 9,79,1

10,6 10,509,5

dec- 02 dec- 03 dec- 04

I FRS

dec- 05

I FRS

dec- 06

I FRS

dec- 07

I FRS

Customer outstanding Floor plan outstanding New financing

373

457

491

460

295

442

189

316

256 266 311 305

15,7% 15,1%

13,6%

17,5%

15,5%

15,1%

2002 2003 2004 I FRS 2005 I FRS 2006 I FRS 2007 I FRS

Results before tax Results af ter tax ROE (without NRE)

2007 Results and ROE in line with 2006 …

Despite difficult automotive environment, RCI Banque maintains its customer outstanding.

ROE in line with 2006 and RCI Banque target

€Bn €M

7

484493

447463

351

294

171193

204 207 216 224267 260 244

-2

10-21

221

-3

36

-27 -16 -24

-100

0

100

200

300

400

500

600

1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

I FRS

2005

I FRS

2006

I FRS

2007

I FRSIncome before taxes (without NRE) Non recurring elements (NRE)

MEUR

10,40%11,40%

12,70%11,70%

15,10%

10,80%10,30%

12,20%12,30%

12%

13,60%

15,70%

17,50%

15,50%15,10%

5%

7%

9%

11%

13%

15%

17%

19%

1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

IFRS

2005

IFRS

2006

IFRS

2007

IFRS

ROE

In%

… and historical performance. RCI Banque has shown very little volatility in result and profitability

over the last 15 years

8

22402305

22502222

1640

1934

8,08% 8,06%

9,14% 9,16%

13,60%

15,69%

17,45%

15,1%

8,12%

7,99%

6,98%6,96%

9,21%9,53%

8,85%8,25%

15,10%15,50%

2002 2003 2004 IFRS 2005 IFRS 2006 IFRS 2007 IFRS

Regulatory Net Worth Tier One

Ratio Cooke ROE on tier 1

In M€ 8% Tier 1 target drives dividend policy.

Basel 2: as of 01.01.08 RCI Banque has been authorized to use its advanced internal models for its 3 activities in 4 countries (representing 70% of the credit risk)

8 % Tier 1 target

9

Key Figures

RCI Banque activity and results

Financial Policy

10

French Bank under supervision of French « Commission Bancaire».

2 mains targets : • ROE ,• Integration in the marketing of

Renault/Nissan Alliance’s brands.

3 Main markets :• Retail,• Corporate,• Dealer.

93 % of assets in 10 western European countries.

Origination of credits only through car dealership.

« Stand alone » rating (one notch above Renault):

• Moody’s: C/A3/P2,• S&P: A-/A2,• FitchRatings: B/C A-/F2.

100% owned by Renault, RCI Banque is an autonomous Business Unit specialized in car financing and related services

11

UK

ARGENTINA

BRAZIL ALGERIA

POLAND

HUNGARY

MORROCOCOLOMBIA

RUSSIA

GERMANY

NETHERLANDS

SPAIN

AUSTRIA

SWITZERLAND

PORTUGAL

BELGIUM

ITALY

CROATIA / SLOVENIA

FRANCE

CZECH REP. / SLOVAKIA

ROMANIA

RENAULT sas

AUTOMOTIVEDIVISION

RCI Banque within the Renault Group

Renault +Nissan Activity

Renault Group Activity (Renault / Dacia / Samsung)

RCI Banque has a direct contribution to Renault’s consolidated operating margin.

100% 100%INTERNATIONALEUROPE

RCI Banque finances sales of Renault brands worldwide and Nissan mainly in Europe

SOUTH KOREA UKRAINE

SCANDINAVIA

12

Synergies between the captives and the carmaker

Captive FinanceCar Manufacturer

Proposes competitive

financial services

Proposes competitive

offer of vehicles

•Trusted brand

•Access to dealer channel

•Exclusive marketing programs

•Supports vehicle sales (faster turnover rate)•Customers buy more options•Higher customer satisfaction and loyalty•Dealer and International expansion•Profits and dividends (RENAULT)

13

Retail activity accounts for 50 % of the outstanding

Maintenance contracts Roadside assistance Extended warranties Replacement vehicles Insurance (credit, damage…) Fuel cards

Inventories (new cars, second hand cars, spare parts)

Standard loans: cash facilities medium term

loans, overdrafts

Financial lease with a buy-back given by the dealer

Operational lease w with the residual

value risk retained mainly by the Renault Group or dealers

Fleet Management (services and

management without financing)

Retail financing

Leasing

Balloon financing packages

Revolving cards

Personal loans

Debit/credit card

DEALER FINANCING

CORPORATE FINANCING

RETAIL FINANCING

SERVICES

Retail 54%

Dealers 24%

Corporates 22%

14

An international development in relationship with Renault…

SOUTH AMERICA• Argentina

• Brazil• Mexico

•Colombia

100% Subsidiaries Commercial Agreement JV Minority stake

CENTRAL EUROPE•Poland

• Czech Rep.• Slovakia•Croatia

• Hungary•Slovenia

EUROMED• Morocco•Algeria

• Romania• Russia•Ukraine

ASIA - AFRICA• South Korea

Germany19%

France34%

UK9% Italy

8%

others14%

Spain16%

Outstanding distribution

NORTHERN EUROPE•Denmark•Sweden•Finland•Norway

Outstanding outside the 10 historical European countries increased from 114 MEUR in 2000 to 1620 MEUR in 2007

15

SECOND PHASE

INITIAL PHASE

FEASIBILITY

OPPORTUNITIESMarkets for Renault and Nissan exceeding 15 000 vehicles / year

Under exclusive RCI Banque

responsibility

Usually commercial agreement with local bank

JV, JV+ or 100% RCI Banque according to feasibility study

Ste

ps

of

inte

rnat

ion

al d

eve

lop

men

t

Funding can be partially or totally centralized if the country transfer and convertibility risk rating is A- or better.

Provisioning of country risk exposure (total provision : 26MEUR at 2007 end, ie +8M vs 2006)

… but under RCI Banque control

16

Stability of the gross financial margin and results before tax, as % of average outstanding

Despite interest rates rise, the gross financial margin has been maintained.

Cost of risk is kept inside target (0.5%-0.7%)

the repurchase of 50% in previous UK JV has a non recurring negative impact on operating costs in 2007

*NRE: non recurring elements **In M€

In % of average outstandings

2002 20032004IFRS

2005IFRS

2006IFRS

2007 IFRS

Gross financial margin

Services and others products

Intermediation fees

4,22%

1,30%

-1,07%

4,48%

1,12%

-1,24%

4,41%

1,12%

-1,09%

4,52%

0,98%

-1,13%

4.46%

1.13%

-1.18%

4.38%

1.30%

-1.18%

Net banking Income 4.45% 4.36% 4,44% 4,38% 4,41% 4.50%

Cost of risk (customer and dealers)

Operating expenses

-0,78%

-1,95%

-0,68%

-1,91%

-0,54%

-1,76%

-0,72%

-1,63%

-0,59%

-1,68%

-0,64%

-1,78%

Results before tax 1,61% 1,87 2,04% 2.00% 2,12% 2,01%

Results before tax

(with NRE) In M€295 373 442 457 491 460

17

(0,59%)

(0,40%)

5,41

(0,65%)

17,73

2006IFRS

2007IFRS

2005IFRS

2004IFRS

20032002

(0,64%)(0,72%)(0,54%)(0,68%)(0,78%)Customer and Dealer cost of risk

17,3917,6016,4914,8013,70Customer average receivable(billion euros)

(0,63%)

4,59

(0,83%)

(0,51%)(0,18%)(0,47%)(0,39%)Dealer cost of risk

(0,69%)(0,86%)(0,57%)(0,78%)Customer cost of risk

5,475,305,235,10Dealer average receivable(billion euros)

Cost of Customer and Dealer Risk

18

67,88%

61,96%

59,77%61,44%

57,85%

63,43%

65,50%

69,87%71,57%

68,74%

3,31% 3,39%2,92% 3,41% 3,38% 3,58% 3,78% 3,20% 3,21%3,29%

50,00%

55,00%

60,00%

65,00%

70,00%

75,00%

1999 2000 2001 2002 2003 2004 2004IFRS

2005IFRS

2006IFRS

2007IFRS

Stable non performing loans ratio, and a conservative provisioning policy

3.39%3.29%3.20%3,78%3,58%3,38%3,41%2,92%

68.74%69.87%63.43%57,85%61,44%59,77%61,96%67,88%

2007 IFRS2006 IFRS2005 IFRS

200420032002200120001999

Non performing loans / Gross loans

Loan loss reserves / Non performing loans

3.31%

71.57%

19

Key Figures

RCI Banque activity and results

Financial Policy

20

While maintaining permanent liquidity reserve coming from:

• Assets being funded with longer dated liabilities

• Committed lines (undrawn)

• ECB eligible securities

• Cash invested in short term bank deposits only

A cautious financial policy

Aiming to protect the commercial margin

• No exposure (direct or indirect) to any subprime assets, no activity in the US.

• Market risk kept at low level

• 25 % Risk division ratio applying to all banks prevents RCI Banque from lending more than 25 % of its equity to a single name (including Renault and Nissan). Limit mostly used by dealership

• Diversified sources of funding

• Centralized funding only in « single A » rated countries

21

Assets are funded with longer dated liabilities.

A recognized know how in ABS.

Sufficient potential portfolios to be securitized in order to deal with a major liquidity stress scenario (no access to unsecured funding during 12 months).

Access to ECB liquidity in case ABS market dries out

A conservative liquidity risk management

Liquidity Position of RCI Banque as of DECEMBER 31st 2007 (in M€)

assets

liabilities + back up lines+ assets eligible to ECB

liabilities

22

Liquidity Reserve remains high

Available Liquidity made of : bilateral committed lines :

– allocated by 35 international banks from 12 countries.– No covenant: no negative pledge, ownership, pari passu, cross default, material adverse change, rating triggers.

Asset Backed Notes eligible to ECB tenders.

Cash.

Liquidity Reserve = Available Liquidity – CD/CP Outstanding

344670

8551 387 1 825 1642

350

381

715440

592 625

-3 750-3 036

-3 703 -3 776-4 701 -4710

53405 3615 3785 3104 9684 658

-5 000

-3 000

-1 000

1 000

3 000

5 000

7 000

9 000

2003 2004 2005 2006 2007 February 2008

2 8971 602 3 077

2 983 3 1773 429

Committed credit lines

CD/ CPECB eligible securities

Cash and minimum reserves Liquidity reserves

5 352 6 019 6 880 7 205 7 778 7 607

Ava

ilable liq

uid

ityC

D/C

P

344670

8551 387 1 825 1642

350

381

715440

592 625

-3 750-3 036

-3 703 -3 776-4 701 -4710

53405 3615 3785 3104 9684 658

-5 000

-3 000

-1 000

1 000

3 000

5 000

7 000

9 000

2003 2004 2005 2006 2007 February 2008

2 8971 602 3 077

2 983 3 1773 429

Committed credit lines

CD/ CPECB eligible securities

Cash and minimum reserves Liquidity reserves

5 352 6 019 6 880 7 205 7 778 7 607

Ava

ilable liq

uid

ityC

D/C

P

2 8971 602 3 077

2 983 3 1773 429

Committed credit lines

CD/ CPECB eligible securities

Cash and minimum reserves Liquidity reserves

5 352 6 019 6 880 7 205 7 778 7 607

Ava

ilable liq

uid

ityC

D/C

P

Committed credit linesCommitted credit lines

CD/ CPCD/ CPECB eligible securitiesECB eligible securities

Cash and minimum reservesCash and minimum reserves Liquidity reservesLiquidity reserves

5 352 6 019 6 880 7 205 7 778 7 607

Ava

ilable liq

uid

ityC

D/C

P

23

Limited market risks

Interest rate risk:Low sensitivity exposure, daily control at group level (RCI global sensitivity exposure was 1.23 M€ for a 100 bps on December 31st 2007).

Foreign exchange risk: Low foreign exchange exposure due to funding in local currency (FX exposure on 31/12/07: 2,3 M€)

Counterparty risk:

99% of exposure (mainly on derivatives) with counterparties rated « single A » or above.

DAILY INTEREST RATES RISKS SENSITIVITY (January 2007-2008)

-15 000 000 -14 000 000 -13 000 000 -12 000 000 -11 000 000 -10 000 000 -9 000 000 -8 000 000 -7 000 000 -6 000 000 -5 000 000 -4 000 000 -3 000 000 -2 000 000 -1 000 000

01 000 0002 000 0003 000 0004 000 0005 000 0006 000 0007 000 0008 000 0009 000 000

10 000 00011 000 00012 000 00013 000 00014 000 00015 000 000

Jan-07 Feb-07 Mar-07 Apr-07 May-07 Jun-07 Jul-07 Aug-07 Sep-07 Oct-07 Nov-07 Dec-07 Jan-08

24

Securitization is used both for funding and increasing asset liquidity.

Assets Portfolio(no cherry picking

all receivable meeting eligibility critera are

sold)

Sale of receivables

Purchase price

SPV

Assets

Issuer

Underwriting

(only through dealership)

Market

Private Placement *Monthly re-issue to match portfolio fluctuation

* Generaly kept by RCI Banque as ECB collateral

Medium Term Senior NotesAAA

Medium Term Subordinated Notes

A

Short Term revolving NotesAAA

Short Term Subordinated Notes

A

Credit enhancement RCI Banque

ABS fully consolidated, first losses are kept by RCI Banque.

25

1680

7023

1409

4576

4225

743

2702

9091

3533

4701

3721

752

2002 2003 2004 2005 2006 2007

Equity Long term (Bonds, MTN,SSD)Public ABS (on B/S) Commercial PaperBanks Renault group

A balanced funding profile split between different sources and maturities.

Stand alone funding (without any Renault support) 4 ABS programs have been launched since 2002 leading to an increase of long term liabilities.

M€

51% 64%74%

70% 70% 66%

2002 2003 2004 2005 2006 2007

Long Term

Short Term

%

26

A balanced geographical funding diversification

6%

8%

23%

8%

5%

7%

34%35%

14%

5%

2%

5% 5%4%

25%

5%

10%

41%

27%

3%

27%

France Germany+Austria UK+I reland Benelux Spain+Portugal I taly Others

2005 2006 2007

2005: 5 636 M€ (wam: 3.4 years) 2006: 5 103 M€ (wam: 3.3 years) 2007: 3 679M€ (wam: 2.8 years)

Borrowings with initial maturity of one year and above

27

2008 funding plan

2008 expected asset growth:

400 to 800 M€ (2 to 4%)

relative cost will be key to final program

REDEMPTIONNEW

ISSUESNET

EMTN -3300 2500 -800

LT BANK BORROWINGS

-250 650 +400

ABS 0 1000 +1000

TOTAL -3550 +4150 +600

28

Standard & Poor’s, Moody's and Fitch carried out an individual analysis of RCI Banque and assigned a better rating than Renault’s.

A better long term rating mainly due to:• strong financial results.• banking status.• autonomous management.

Stable outlook on all RCI Banque’s ratings

RCI Banque Renault Nissan

CTCT LTLT FSFS LTLT LTLT

S&P’s A2 A- BBB + BBB+

Moody’s P2 A3 C Baa1 A3

Fitch F2 A- B/C BBB + A-

R&I A1 A A A

A stand alone rating, notched up from Renault’s

29

RCI Banque’s credit main strengths

Mono-activity business model with no diversification. “We do not expect any departure from this prudent and primarily profit-

oriented strategy”; S&P analysis 27/07/2007.

Strong stability in results. “RCI Banque’s overall margins are high and reflect its car financing activities” Moody’s analysis 20/11/2007.

No exposure on US economy, no exposure on subprime.A cost of risk kept inside target.

Strong liquidity profile resulting from cautious financial policy “Moody’s views RCI Banque’s liquidity as strong and sufficient to withstand a period of stress without significantly affecting the bank’s activities ” Moody’s analysis 20/11/2007.

30

APPENDIX

31

Consumer loyalty

Customer loyalty rate of new vehicles renewals

Loyalty to Renault’s brandof new vehicles renewalsCASH

payment

55 %

RCI Banque

Financing

63 %

RCI loyalty inducing product Financing

78 %

+ 20 points

Sce : CCX 2004 G5

58 %

32

Renewal acceleration

2 cycles (14 years) :

• 50 % increase of renewal rate with RCI Financing.

• 100% increase of renewal rate with loyalty inducing products Financing.

Cash

RCI Loyalty inducing product

RCI Standard credit

Sce : average vehicle holding depending on payment method - Renewals VN CCX 2004 G5

33

Commercial Activity

Passenger car & Light Commercial Vehicle market *

Renault Group brands

MARKET SHARE

(%)

NISSAN MARKET

SHARE (%)

RCI Banque PENETRATION

RATE (%)

NUMBER OF NEW

VEHICLE CONTRACTS

processed

NEW FINANCING (€M)

Excluding cards and PL

NET loans OUTSTANDING

at YEAR-END (M€)

OF WHICH

DEALERS (€M)

2007 9.5% 2.0% 33.0% 747 115 8 418 21 623 5 127 Western Europe

2006 9.9% 2.2% 34.0% 829 556 9 077 21 935 5 013

2007 4.7% 1.4% 38.6% 125 583 1 455 4 442 869 of which Germany

2006 4.7% 1.6% 40.1% 154 504 1 690 4 795 887

2007 10.5% 2.9% 46.2% 132 169 1 657 3 738 690 of which Spain

2006 10.8% 3.2% 45.9% 140 929 1 735 3 802 741

2007 24.8% 1.7% 32.0% 279 438 3 283 8 009 2 135 of which France

2006 26.3% 1.7% 32.1% 287 829 3 380 7 807 1 984

2007 5.4% 3.0% 22.7% 74 120 734 2 062 418 of which UK

2006 6.0% 3.2% 29.1% 108 041 868 1 776 362

2007 5.3% 1.8% 35.3% 71 338 735 1 757 365 of which Italy

2006 5.6% 1.9% 32.7% 68 117 718 1 962 395

2007 3.1% 0.5% 29.4% 28 081 278 521 176 Brazil

2006 2.8% 0.3% 38.3% 27 502 241 371 100

2007 9.3% 0.2% 26.6% 31 916 387 334 0 South Korea

2006 10.0% 0.1% 12.7% 15 360 183 141 -

2007 15.3% 1.1% 29.4% 91 222 355 765 241 Rest of world**

2006 16.3% 0.4% 29.2% 73 618 235 536 137

2007 9.2% 1.6% 32.1% 898 334 9 438 23 243 5 544 Total RCI

2006 9.7% 1,8% 32,4% 946 036 9 737 22 983 5 250

*Figures refer to the passenger car and light utility vehicle markets.

**Rest of world: Poland, Czech Republic, Slovakia, Slovenia (consolidated in 2007), Hungary, Romania and Argentina.

34

No cost of risk evolution noticed during the last months

Public management report of RCI Banque ABS show no deterioration of the Delinquency

and loss Ratio of 2 majors credit portfolio since the crisis started.

Portfolio: Italian Customer Loans.

Full reporting available on http://www.securitisation-services.com (access can be asked on the web site).

Defaulted Receivable means mainly a receivable in respect of which at a given date, the amount as principal or interest in respect of such Receivable by the relevant Borrower is higher than 6 times the relevant instalment.

Recovery means any amount received by the Servicer in connection with any Defaulted Receivable.

35

Portfolio: French Customer Loans

Full reporting available on http://www.eurotitrisation.fr (access can be asked to the Management Company)

Defaulted Receivable means mainly an Instalment remains unpaid by the Borrower for at least 90 calendar days.

Recovery means any amount received by the Servicer in connection with any Defaulted Receivable.

No cost of risk evolution noticed during the last months

0,00%

0,50%

1,00%

1,50%

2,00%

2,50%

Annualized Delinquency Ratio (5)

0,00%0,50%1,00%1,50%2,00%2,50%3,00%3,50%4,00%4,50%

03/2

003

05/2

003

07/2

003

09/2

003

11/2

003

01/2

004

03/2

004

05/2

004

07/2

004

09/2

004

11/2

004

01/2

005

03/2

005

05/2

005

07/2

005

09/2

005

11/2

005

01/2

006

03/2

006

05/2

006

07/2

006

09/2

006

11/2

006

01/2

007

03/2

007

05/2

007

07/2

007

09/2

007

11/2

007

01/2

008

Annualized Default Rate (2) Annualized Recovery Rate (3)Gross Loss Ratio (annualized) (4)

36

RCI BanqueFinance Division - API MLV 4514 avenue du Pavé Neuf - 93168 Noisy le Grand Cedex – France

CFO : Antoine ROUSSELINPhone: 33 1 49 32 80 21 - Fax: 33 1 49 32 86 15

Group treasurer : Jean Marc SAUGIERPhone: 33 1 49 32 87 99 - Fax: 33 1 49 32 87 83 - Jean-Marc.Saugier@rcibanque.com

Dealing Room :Nicolas DUC 33 1 48 15 75 04 - Nicolas.Duc@rcibanque.comJean Paul LABATE 33 1 48 15 75 04 - Jean-paul.Labate @rcibanque.comChristian DESCH 33 1 48 15 75 02 - Christian.Desch@rcibanque.com Nicolas CHAILLAN 33 1 48 15 75 03 - Nicolas.Chaillan@rcibanque.com

Banks & Communication : Michèle BELHASSEN 33 1 49 32 82 59 - Michele.Belhassen@rcibanque.com Alain MEYER 33 1 49 32 69 07 - Alain.d.Meyer@rcibanque.com Thomas HUART 33 1 49 32 68 73 - Thomas.Huart@rcibanque.com

Reuters : RCIDIAC

CONTACTS

37

www.rcibanque.com