Identification
Symbol
ARR
ISIN code
FR0006807004
Exchange / Market
Euronext Access
Trading location
Paris
Products family
Funds
ICB
Transportation Services
Issuer website
http://www.parisrhinrhone.fr
Operation
IPO date
IPO type

<p>
Underwritten Global Placement and Open Price Offer</p>

IPO price
Underwritten Global Placement: 41,50 euros Open Price Offer: 40,50 euros
IPO type
Initial Public offering
Catégorie
IPO
Operation procedure

<p>
Underwritten Global Placement Characteristics See the operations note Characteristics of the Open Price Offer - Number of shares offered: between 30 and 70% of the total shares offered under the Offer before the Over Allocation Option is exercised. In any event, at least 10% of the total number of offered shares under the Offer, before exercising the Over Allocation Option will be allocated to the OPO, subject to demand. - Reservation of shares: The reservation should be for a minimum amount of 200 &euro; and should be a whole multiple of 100 &euro;. Else, the reservation will be rounded off to a lower whole multiple of 100 &euro;. The same person may not issue a reservation for a number of securities higher than 20% of the total number of securities offered under the Open Price Offer. Offer reserved for employees The offer conditions for employees are given in the information document available to the beneficiaries of this offer by the company as well as in the operation note signed by the Autorit&eacute; des March&eacute;s Financiers. A notice will be published by Euronext Paris informing about the final offer conditions. Price fixing modalities The unit subscription price of the shares offered under Underwritten Global Placement will be calculated from the number of securities presented and the subscription requests made by investors based on the technique called &ldquo;order book building&rdquo; as developed by the professional users. The unit subscription price of the shares offered under Open Price Offer will enjoy a reduction of 1 &euro; with respect to the Underwritten Global Placement Price. The Underwritten Global Placement Price could be between 38 &euro; and 43 &euro; and the Open Price Offer Price could therefore be between 37 &euro; and 42 &euro;. This information is strictly indicative and has no bearing on the final price of the Underwritten Global Placement and the Open Price Offer that may be fixed outside this range. In case of modification in price ranges, in case the Underwritten Global Placement Price and the Open Price Offer Price are fixed outside their respective price ranges, or in case of modification in number of shares offered under the Offer, the public will be informed about the new modalities through a notice distributed by Euronext Paris and a press release published by the Company in at least two nationally circulated financial dailies and the closure of the Open Price Offer will be postponed, or the Open Price Offer will be reopened, as the case may be, such that there are at least two trading days between the release distribution date and the new closure date of the Open Price Offer. The reservations and orders issued under the Open Price Offer before the publication of the above mentioned communiqu&eacute; may be revoked up to the new Open Price Offer closure date. New irrevocable orders can be issued up to the new closure date of the Open Price Offer. The above mentioned notice and release will also indicate the new timetable with the new Open Price Offer closure date, the new date planned for price fixing and the new settlement delivery date. The Underwritten Global Placement and Open Price Offer are not subject to any registration or stamp fees.</p>

Operation description
Operation calendar

<p>
- 9 November 2004: Opening of Underwritten Global Placement, Opening of the reservation period of the Open Price Offer Opening of Offer Reserved for Employees - 20 November 2004, 5 p.m.: Closure of the reservation period of the Open Price Offer for reservations deposited at the counters of authorised intermediaries - 21 November 2004, 11:59 p.m.: Closure of the reservation period of the Open Price Offer for reservations made on the Internet - 22 November 2004: Opening of the Open Price Offer - 23 November 2004, 5 p.m.: Closure of Underwritten Global Placement (which may be closed in advance, without prior information), Closure of the Open Price Offer, Closure of Offer Reserved for Employees - 24 November 2004: Fixing the prices for Underwritten Global Placement, Open Price Offer and the Offer Reserved for Employees Company distributes a press release announcing the final conditions of the introduction operation on the Premier March&eacute; of Euronext Paris, mainly, the prices for Underwritten Global Placement, Open Price Offer and the Offer Reserved for Employees The Minister of State, Minister of Economy, Finance and Industry distributes a press release detailing the conditions for opening up the Company&rsquo;s capital Publication of the Open Price Offer results in a Euronext Paris notice First trade of Existing Shares and New Shares on the Premier March&eacute; of Euronext Paris - 25 November 2004: Start of trading of Existing Shares and New Shares on the Premier March&eacute; of Euronext Paris - 30 November 2004: Settlement delivery of the Underwritten Global Placement and Open Price Offer - 23 December 2004: Last date for exercising the Over Allocation Option - 21 January 2005: Settlement delivery of the Offer Reserved for Employees</p>

Price range
Underwritten Global Placement: 38,00 euros - 43,00 euros (indicative) Open Price Offer: 37,00 euros - 42,00 euros (indicative)
Broker to issue

<p>
HSBC CCF<br />
LEHMAN BROTHERS<br />
SOCIETE GENERALE</p>