Turnover for the half year of 2002/2003

Having recorded strong growth in 2001/2002, IGE+XAO followed this progress in the second quarter of 2002/2003 with an increase in turnover of 5%. In the International market, the main target of the Group, IGE+XAO has posted growth of 13%. In France, where IGE+XAO holds more than 60% of the market, our business is in slight increase compared with last year (+1%) and taking into account that the activity of the second quarter 2001/2002 was exceptionally high. These performances are all the more remarkable in that they have been notched-up without changes in the scope of the consolidation and in an economic downturn.

The Company has confirmed the correctness of this business plan by seeing turnover growth combined with profitability, which is projected at a net margin of between 7% and 9% of turnover.