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Email: Vanessa Maydon

Press releases

Eutelsat
29 November 2005

Eutelsat Communications successfully prices its Initial Public Offering at 12 euros

  • International offering to institutional investors (in France and internationally) has generated strong demand since opening of the books on Monday evening, November 28
  • The institutional offering has been significantly oversubscribed and the books for the institutional offering were closed within 24 hours
  • The Board of Eutelsat Communications has decided to set the offering price at €12.00 per share for both the international offering and the retail offering in France
  • Allocations will be communicated to investors on a provisional basis, subject to a clawback to meet demand from retail investors
  • The retail offering in France will remain open as expected until 5:00pm (Paris time) on Thursday December 1st
  • The timetable for the offering remains unchanged, with initial listing of the shares on Eurolist by Euronext Paris and the start of trading to occur on the afternoon of December 2, 2005, and settlement and delivery of the shares to occur on December 6, 2005

The price per share for the Global Offering, comprising an international offering to institutional investors and a retail offering in France, has been set at €12.

On that basis, the number of shares newly issued by Eutelsat Communications will amount to 71,666,667, corresponding to a capital increase of €860 million and representing approximately 33.2% of the capital stock and voting rights of Eutelsat Communications after the listing (assuming full subscription of the Employee Offering).

Certain existing shareholders have also granted to the Sole Global Coordinator and Lead Bookrunner acting on behalf of the underwriters, an over-allotment option, representing up to 5,733,333 additional existing shares.

Goldman Sachs International is acting as Global Coordinator and Lead Bookrunner, Deutsche Bank AG, Lehman Brothers International (Europe), Merrill Lynch International and Morgan Stanley & Co. International Limited are acting as Joint Bookrunners and Joint Lead Managers, BNP Paribas and CALYON are acting as Joint Lead Managers and Lazard-IXIS is acting as Co-Manager in connection with the Global Offering.

Commenting on the pricing of the initial public offering, Giuliano Berretta, Chairman and CEO of Eutelsat Communications, said:
“I am delighted that the interest shown by institutional investors since we launched the offering on Monday evening has been strong, and comes from a wide and high-quality institutional base. The Board’s decision to approve proceeding with the offering at a price of €12 per share is consistent with our objective of building a solid foundation of investors backing the Group as a listed company going forward.”

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