Twin Win 2 in CZK

Indicative Terms & Conditions

Tomas HochmeisterSales location : SG Paris

Equity and Derivatives

SG Corporate & Investment Banking01 42 13 38 85

EQUITY DERIVATIVESHOUSE OF THE YEAR

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Important Information

The terms and conditions are indicative and may change with market fluctuations.

Prior to any investment in the products described herein (the “Notes” or the “Products”),investors in the Notes (“Investors”) should make their own appraisal of the risks from a legal,tax and accounting perspective, without relying exclusively on the information with which theywere provided, by consulting, if they deem it necessary, their own advisors in these matters orany other professional advisors. Subject to compliance with legal and regulatory requirements,Société Générale may not be held responsible for the financial or other consequences that mayarise from the investment in the Notes.

Investors are deemed to be aware of any applicable law regarding the sale of the Notes in theircountry of residence and it is the responsibility of any person wishing to take up anyentitlement or to make an application hereunder to satisfy themselves as to full observance ofthe laws of the relevant territory in connection therewith, including the obtaining of anygovernment or other consents which may be required, the satisfaction of any other formalitiesneeding to be observed and the payment of any issuance, transfer or other taxes requiring tobe paid in such territory.

The Notes may be subject to restrictions with regard to certain persons or in certain countriesunder national regulations applicable to said persons or in said countries. It is each Investor’sresponsibility to ensure that it is authorized to invest in the Notes.

This document does not constitute an offer for sale of the Notes in the United States. TheNotes can be neither offered nor transferred in the United States of America without beingregistered or being exempted from registration under the US Securities Act 1933, as amended.

When subscribing, purchasing and holding the Notes herein described, the Investors shouldbe aware that under certain circumstances the redemption value of the Notes may be less thanits nominal amount.

The attention of Investors is drawn to the fact that, by the maturity date, the price of certainProducts can be subject to an important volatility due to the evolution of market parametersand more precisely the price of the underlying instrument and the interest rates.

For certain Products, except when Société Générale undertakes to assure a secondary market,there is no liquid market on which these Products can be easily traded, and this may have amaterial adverse effect on the price at which these Products might be sold.

Certain Products embed leverage i.e. either (i) the issuer of these Products may borrow fundsto invest more than 100% of the amount initially invested by the Investors in the underlyingassets or (ii) the issuer of an underlying instrument may borrow funds to invest more than100% of its assets in other assets, which involves in both cases further risks. Therefore, thevalue of the Notes will amplify the upwards and downwards movements (i) in the value of theunderlying assets or (ii) in the value of these other assets, and the Notes may even have novalue.

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For the Products benefiting from a guarantee of Société Générale or of any other entity ofSociété Générale group (hereinafter referred to as the «Guarantor»), the due and punctualpayment by the principal debtor of the obligation of any sums due in respect of these Productsis guaranteed by the Guarantor according to the terms set forth in the deed of guarantee. Inthis case, the Investors bear in the end a credit risk on the Guarantor.

When simulated performance or past performance is displayed, the figures relating theretorefer to past periods and are not a reliable indicator of future results. When future performanceis displayed, the figures relating to future performance are a forecast which is not a reliableindicator of future results. Furthermore, where past performance or simulated pastperformance rely on figures denominated in a currency other than that of the Investors’country of residence, the return may increase or decrease as a result of currency fluctuations.Finally, when simulated performance or performance (whether past or future) are displayed,the potential return may also be reduced by the effect of commissions, fees or other charges.

The documents relating to the Notes will provide for methods of adjustment or substitution inorder to take into account the consequences on the Notes of extraordinary events which mayaffect one or several of the underlying instruments on which they are based or, as the casemay be, the early termination of the Notes.

For certain Products with a capital protection, such capital protection is only ensured on theMaturity Date, and the secondary market price of the Notes may fall below this capitalprotection during the life of the Notes. Moreover the investor should be aware that the capitalprotection feature requires for the Issuer, the Guarantor and/or their affiliates, to enter intohedging transactions which have a cost and which may affect the market price, liquidity orvalue of the Notes, especially when comparing them to the market price, liquidity and value ofthe underlyings of the Note. The Issuer and the Guarantor assume no responsibilitywhatsoever for such consequences and their impact on the investment.

For further information on the risks relating to the Notes, Investors should refer to the section“Risk Factors” of the Issuer’s Debt Issuance Programme.

If, under the Markets in Financial Instruments Directive (MiFID) 2004/39/CE and/or any otherlaws and regulations, any person (the “Interested Party”) is required to disclose to prospectiveinvestors in the Notes any remuneration that Société Générale pays to, or receives from, suchInterested Party in respect of the Notes, the Interested Party shall be responsible forcompliance with such laws and regulations.

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Indicative Terms and Conditions of the EMTN

This document must be read in conjunction with the SG/SGA/SGOE Debt Issuance ProgrammeProspectus (a copy of which will be available upon request)

Part 1

Issuer SGA Société Générale Acceptance N.V.

Guarantor Société Générale

Specified Currency orCurrencies CZK

Aggregate NominalAmount:

Tranche 90 000 000

Series 90 000 000

Issue Price 100% of the Aggregate Nominal Amount

SpecifiedDenomination(s) 10 000

Issue Date 06/10/2008 (DD/MM/YYYY)

Maturity Date 07/10/2013

Listing None

Fixed Rate NoteProvisions Not Applicable

Index Linked InterestNote Provisions Not Applicable

Final RedemptionAmount Index Linked

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Index/Formula The Issuer shall redeem the Notes on the Maturity Date in accordancewith the following formula in respect of each Note:Specified Denomination x [100% + Max (0% ; PerfBasket)]

Other final terms Not Applicable

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Part 2 (Definitions)

Terms used in the Formulae above are described in this Part 2.

Valuation Date(0) 06/10/2008

Valuation Date(1); 30/09/2013

Underlying The following 25 Shares (each an “Underlying” and together the“Basket”, Underlyings shall be construed accordingly) as definedbelow:

k Company RIC Country Exchange Website*

1SEGA SAMMYHOLDINGS INC 6460.T Japan

Tokyo StockExchange, Inc.

www.segasammy.co.jp

2TOKYO GAS COLTD 9531.T Japan

Tokyo StockExchange, Inc.

www.tokyo-gas.co.jp

3 ADVANTEST CORP 6857.T JapanTokyo StockExchange, Inc.

www.advantest.co.jp

4NISSAN MOTOR COLTD 7201.T Japan

Tokyo StockExchange, Inc. www.nissan.co.jp

5NIPPON STEELCORP 5401.T Japan

Tokyo StockExchange, Inc. www.nsc.co.jp

6 Fortis NV FOR.BR Belgium Euronext Brussels www.fortis.com/

7DSG InternationalPlc DSGI.L

UnitedKingdom

London StockExchange plc

www.dsgiplc.com/Layout.aspx?ID=5aad56ce-5794-4928-8d1a-4923e120929d&CatID=95c3cceb-b085-4882-9380-919fc28eaabd

8 Citigroup Inc C.NUnitedStates

New York StockExchange

www.citigroup.com/citigroup/homepage/

9 TUI AG TUIGn.DE Germany Xetra www.tui.de

10Deutsche TelekomAG DTEGn.DE Germany Xetra

www.deutschetelekom.de/

11Nortel NetworksCorp NT.N Canada

New York StockExchange www.nortel.com

12 HBOS Plc HBOS.LUnitedKingdom

London StockExchange plc www.hbosplc.com

13 Thomson SA TMS.PA France Euronext Paris www.thomson.net

14 Volvo AB VOLVb.ST SwedenStockholm StockExchange www.volvo.se

15 UBS AG UBSN.VXSwitzerland

virt-x ExchangeLimited www.ubs.com

16 Altria Group Inc MO.NUnitedStates

New York StockExchange www.altria.com/

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17 Rentokil Initial Plc RTO.LUnitedKingdom

London StockExchange plc

www.rentokil-initial.com/

18 Pfizer Inc PFE.NUnitedStates

New York StockExchange www.pfizer.com

19 Merck & Co Inc MRK.NUnitedStates

New York StockExchange www.merck.com

20Consolidated EdisonInc ED.N

UnitedStates

New York StockExchange

www.conedison.com/

21 Kingfisher PLC KGF.LUnitedKingdom

London StockExchange plc

www.kingfisher.co.uk/

22 Eastman Kodak Co EK.NUnitedStates

New York StockExchange www.kodak.com

23 Valeo SA VLOF.PA France Euronext Paris www.valeo.com/

24 Gas Natural SDG SA GAS.MC Spain SIBE Madridwww.gasnatural.com/

25 Agfa-Gevaert NV AGFB.BR Belgium Euronext Brussels www.agfa.com

*The information relating to the past and futures performances of any Underlying are available on the website of theCompany and the volatility can be obtained, upon request, at the specified office of Société Générale (see in address andcontact details of Société Générale for all administrative communications relating to the Notes) and at the office of the Agentin Luxembourg.

Closing Price For Shares or Indices, as defined in Part 1 of the Equity TechnicalAnnex

Sik ; (k from 1 to 25),

(i from 0 to 1)Closing Price of Underlying k on the Valuation Date(i)

PerfBasket 1/25 × Sum k from 1 to 25 Performance k

Performance k

(k from 1 to 25)If (S1

k/ S0k-1) ≥ -25%:

Performance k = Min [60% ; Abs (S1k/ S0

k-1)]

ElsePerformance k = S1

k/ S0k-1

Abs (a) Absolute value of real number a, thus : a if a ≥ 0, else -1 × a

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Part 3 Miscellaneous

Launch Date 06/05/2008

Clearing/Settlement Clearstream / Euroclear

Governing Law English

Capital guarantee 100% of Specified Denomination at Maturity Date

ISIN Code […]

Business DayConvention Following

Early Repurchase Fee An Early Repurchase Fee will be charged for selling orders, at a rate of4.35% x (m/24) of the Specified Denomination, m being the number ofentire months remaining until “Issue Date + 2 years”, deducted from thebid price.

Secondary MarketSociété Générale ensures a secondary market daily during the life ofthe product with a maximum bid-offer spread of 1%, under normalmarket conditions.

Public Offering Czech Republic

Subscription Period 01/08/2008-31/10/2008

Calculation Agent Société Générale

Commissions and otherRemunerations Société Générale shall pay to the person(s) mentioned below (each

an “Interested Party”) the following remunerations for the servicesprovided by such Interested Party to Société Générale in thecapacity set out below:

to Conseq as distributor an annual average remuneration(calculated on the basis of the term of the Notes) equal to 0.87% ofthe amount of Notes effectively placed.

Further information in respect of the above remunerations may beprovided by Société Générale to its own clients upon request. If,under the Markets in Financial Instruments Directive (MiFID)2004/39/CE and/or any other laws and regulations, an InterestedParty is required to disclose to prospective investors in the Notesany remuneration that Société Générale pays to, or receives from,such Interested Party in respect of the Notes, the Interested Partyshall be responsible for compliance with such laws and regulations.