BYE BYE FADESA

[VAF]

About Addoha expertise or experience:

On 27th June 2008 Addoha and the GROUPE CAISSE D’EPARGNE (a major retail bank in France), signed a partnership agrement promoting
Addoha products in Morocco.

(http://www.groupe.caisse-epargne.com/as ... uniques_ci)

Do you think GROUPE CAISSE D’EPARGNE France signed an agrement
with Addoha ,if this one has no expertise ,experience ,or is not solvent ?

Regards

[Pepe Le Pew]

About Addoha expertise or experience:

On 27th June 2008 Addoha and the GROUPE CAISSE D’EPARGNE (a major retail bank in France), signed a partnership agrement promoting
Addoha products in Morocco.

(http://www.groupe.caisse-epargne.com/as ... uniques_ci)

Do you think GROUPE CAISSE D’EPARGNE France signed an agrement
with Addoha ,if this one has no expertise ,experience ,or is not solvent ?

Regards

Addoha are VERY EXPERIECED in building social housing in Morocco.

Savings Banks such as the one named are indentifying the VAST number of Moroccan inmigrants in France whose dream is to own a home in their cuntry of origin. This is a very lucrative business for a Bank because the house purchase will be the foundation in which to base the sale of other products such as mortgages, insurance...

Don't get me wrong, Addoha are solvent, competent and highly expereiced in their own segment (social and first homes) and will no doubt take over Fadesa Maroc, sooner rather than later.

My point is that they lack expertise and experience in vast second home complexes and very importantly, in dealing with foreign clients with perhaps a higher social/economic background. Not generalising, of course.

I wish them well, in particular because my own eggs are tapped in their basket.

Regards

Pepe Le One with the confined eggs.