SECTION 663

Partially redeemed shares, whose reconversion into capital shares has been ordered, shall be entitled, for each fiscal year and up to the completion of this reconversion, to the first dividend or interest in lieu thereof, calculated on the basis of the amount paid, but not redeemed for said shares. Furthermore, shares fully or partially redeemed whose reconversion is effected by deductions from profits shall be entitled, for each fiscal year and up to the final realization of the reconversion, to the first dividend calculated on the basis of the amount, at the close of the immediate preceding fiscal year, of the matching reserve account.