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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: 890 505 shares (90% of the operation before the extension clause). 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). Underwriters: Gilbert Dupont The Open Price Offer Number of shares in the OPO: 98 945 shares (10% of the total number of shares offered before the exercise of the extension clause). 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 20% of the total number of shares disseminated to the public. 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 June 29, 2005 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>