Identification
Listing sponsor / Agent

<p>
Global Equities</p>

Symbol
ALEMV
ISIN code
FR0004168045
Exchange / Market
Euronext Growth
Trading location
Paris
ICB
Internet
Website address
Issuer website
http://www.emailvision.com
Operation
IPO date
IPO type

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

IPO price
2.55 euros
IPO type
Initial Public offering
Catégorie
IPO
Operation procedure

<p>
Conditions applying to both Global Placement and Open Price Offer 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 February 8th, 2006 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 mentioned range. The 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. - Number of shares in the Placement: 2,845,528 shares (70% of the Offer before the extension Clause) - Underwriter: GLOBAL EQUITIES The OPO - Number of shares in the OPO: 1,219,512 shares (30% of the Offer before the extension clause exercise) Depending on the demand, the breakdown between The Placement and the OPO may be adapted as stated below: - In order to increase the placement, the number of shares offered within the open-Price Offer may be reduced (if the OPO would not be fully subscribed). - In order to increase the Open-Price Offer, the number of shares offered within the placement may be reduced. However that number of shares offered in the Open-Price Offer will not exceed 40% of the total number of shares disseminated to the public. If the float does not amount 2.5 million &euro;, the Offer will be cancelled and the orders will be void.</p>

Operation description
Operation calendar

<p>
- Period of the Placement: from January 31st, 2006 to February 8th, 2006 (12:00) - Period of the OPO: from January 31st, 2006 to February 7th, 2006 inclusive - First quotation: February 8th, 2006 - Beginning of trading: February 14th, 2006</p>

Price range
2.27 euros – 2.65 euros