<p> AVENIR FINANCE CORPORATE</p>
<p> Global Placement and Open Price Offer</p>
<p> Global Placement procedure - Number of shares: 945 000 shares representing 90% of the Offer (before extension option exercise) - Book runner: AVENIR FINANCE Open Price Offer procedure - Subscription open for Retail investors, legal entities and certain UCITS. - Number of shares : 105 000 shares representing 10% of the Offer (before extension option exercise). The number of shares offered within the OPO may be increased by shares offered in the Global Placement up to 20% of the offer after exercise of the extension clause.</p>
<p> - Period of the Placement: from January 25, 2007 to February 6, 2007 (17:00) - Period of the Offer: from January 25, 2007 to February 6, 2007 (17:00) - First quotation: February 7, 2007 - Beginning of trading: February 13, 2007</p>