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The placement Before first quotation, a proportion of the shares will be distributed under the Global Placement, directed to institutional investors, in France and in some countries, excluding USA. Number of shares: 653 358 shares, i.e. 90% of the total offered shares. Underwriter: IXIS Midcaps The Open Price Offer The OPO is meant for individuals. Number of shares: 72 595 shares, i.e. 10% of the total offered shares. The number of shares allocated in the OPO could be raised by deduction from the Global Placement. However, the number of shares in the OPO could not amounted more than 20% of the total offered shares 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 price of the Global Placement and the OPO will be the same. The final price will be set on June 28th, 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>