Turnover for the first quarter of 2002/2003

Having recorded strong growth in 2001/2002, IGE+XAO followed this progress in the first quarter of 2002/2003 with an increase in turnover of 6%. In the International market, the main target of the Group, IGE+XAO has posted growth of 14%. In France, where IGE+XAO holds more than 60% of the market, our business has increased by 2%. 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.

At the same time, IGE+XAO Group decided to put in place in the plans for 2002/2003 a new organisation centred on its clients' skills: Design and Maintenance for industrial installations, Embedded wiring (aircraft and vehicles,…), Electrical Installations in Buildings. This organisation will permit the Group to enhance the relevance of its quotations, optimise its marketing strategy and streamline its operations.

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.

Furthermore, the Board of Directors advises that he will propose at the Annual General Meeting planned for the end of January 2003, a dividend distribution of up to € 271,310 net.

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