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Placement Before first listing, a proportion of the shares will be included in a public placement in France and an international private placement in some countries excluding the United States of America. Underwriters: EUROPE FINANCE ET INDUSTRIE Securities, KEPLER Equities Open Price Offer Number of shares in the OPO: if demand in the OPO allows it, the definitive number of shares allocated in the OPO is at least equal to 10% of the total number of shares offered before the exercise of the extension clause. The OPO is open to natural persons. Extension clause According to the importance of the demand, the selling shareholders, in accordance with CIMEX Pharma SA and EUROPE FINANCE INDUSTRIE SA as a leader, could decide to increase the number of shares initially offered in the placement up to 639 450 existing additional shares. This decision should be made at the latest when the price of the shares is fixed in the OPO and the global placement, ie 2nd August 2004. The first share price will be set at the end of the OPO and will take account of the demand expressed in the global placement. The prices of the global placement and the OPO are the same. The definitive price will be set on 2 August 2004 after centralisation of the OPO and should be published by Euronext Paris in a notice that same day. The final share price may be set outside the aforementioned range</p>