<p> Direct trading procedure</p>
<p> - Grantor: EEM Group (Electricité et Eaux de Madagascar); - Number of securities transfered: 4,509; - Offer price: 11.09 euros</p>
<p> - First quotation: July 31, 2007; - Beginning of trading: August 1st, 2007</p>
<p> AUREL LEVEN</p>