Accounts and budget

• The Board approved the Group’s consolidated fi nancial statements and the individual financial statements of Renault SA and Renault s.a.s. for 2006;
• The Board approved the consolidated financial statements for fi rst-half 2007, and set the dividend to be proposed to the Annual General Meeting (AGM);
• The Board adopted the 2008 operating and investment budget.

Corporate governance

• The Board conducted a thorough self-assessment of its operating methods and decided on the definition of independent director;
• The Board adopted the Chairman’s report on internal control procedures;
• The Board adopted the Code of Good Conduct and the Rules of Compliance that provide for the position of Compliance Offi cer and endowed the C ompany with a professional warning system;
• The Board reviewed the sponsorship activities of Renault and its subsidiaries;
• The Board approved the plan for grants of stock options and bonus shares for 2008 and for Renault Commitment 2009;
• The Board analyzed and approved the answers to shareholders’ questions ahead of the AGM.

Group strategy

• The Board discussed Renault’s strategic guidelines, in accordance with the internal regulations;
• The Board approved the signing of an MOU on an industrial complex to be built near Tangiers;
• The Board approved the signing of an MOU on a partnership with AvtoVAZ, Russia’s leading carmaker;
• The Board reviewed progress on Renault’s facility in India.

The Alliance Renault-Nissan

The board took note of the report of the decisions and proposals of the Alliance Board.