<p> Direct trading procedure</p>
<p> - Grantor: Mr Philippe MERLO; - Number of securities: 7,500; - Offer price: 12 euros. No selling order will be accepted except the order placed by Mr Philippe MERLO.</p>
<p> - First quotation: July 9, 2007; - Beginning of trading : July 10, 2007</p>
<p> EUROPE FINANCE ET INDUSTRIE</p>