ABC ARBITRAGE : Third quarter 2013 operating revenues

As announced when the interim financial statements were published on 16 September, business volumes in the third quarter of 2013 were in line with the first half, although the quarter ended on a lacklustre note due to a further fall in real volatility towards the end of September.
During the quarter, all strategies behaved in line with the volatility and general asset decorrelation conditions prevailing across the world's markets. Business momentum is comfortable enough for us to continue our active investment policy, and more particularly our aggressive hiring programme in the various R&D areas. The aim is to increase our current staffing levels in quantitative R&D by 10%.
In an environment where instability and regulatory escalation are hindering the Group's expansion, we continue to work with our financial partners and investors to seek alternative solutions that will contribute to our business growth. This environment is also forcing us to rethink our compensation policy, which will ultimately lead to a 10% to 15% increase in fixed costs, while maintaining our commitment to aligning our employees' interests with those of our shareholders.
Over the period, the investment funds managed by ABC arbitrage Asset Management delivered improved performance, but still fell short of the Group's ROI targets. Assets under management stood at €381 million at
1 October 2013.
ABC arbitrage will make a distribution of €0.20 per share on Monday, 9 December 2013. Payment will take place in cash only on Thursday, 12 December 2013. The distribution will be treated as a dividend for about
€0.05 and a return of additional paid-in capital for about €0.15. The split may be adjusted depending on the
number of shares held in treasury on the ex-dividend date and on any new shares issued prior to that date. The exact split will be announced through the banks and brokers that manage shareholders' securities accounts. The amount representing a return of additional paid-in capital will not be subject to income tax in respect of
2013 but will be deducted from the purchase price of the relevant shares and taxed when the shares are sold. This information is given for guidance only and shareholders are invited to consult their tax adviser to determine the tax rules applicable to them.
Lastly, for the fourth year running, Stratégies, a weekly magazine for communication, marketing and media professionals, awarded ABC arbitrage the 2013 Grand Prix Stratégies du Design (in the corporate publications category) for its 2012 annual report on the theme "Back to Basics".

The revenue figures in the table below are presented in accordance with IFRS and are not a meaningful indication of the volume of business conducted during the period, which is better represented by net financial revenue.

Contacts:

Communications - Julien Aumont: +33 (0)1 53 00 55 00 - actionnaires@abc-arbitrage.com

Media Relations - MSL France - Valérie Sabineu/Jérôme Goaër: +33 (0)1 44 82 46 21 / 24

Press releases can be found at http://www.abc-arbitrage.com/

EURONEXT Paris - Compartiment B

ISIN: FR0004040608

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