• 18th May 2005 : the first Casino sell option exercised

The GROUPE BOURBON board of directors decided, in a meeting on May 18th 2005, to exercise its first sell option, for a 36.66% interest in VINDÉMIA, to Casino.
Following this transfer, for 199.6 million euros, GROUPE BOURBON still holds a second sell option, for the remaining 30% of VINDÉMIA, which can be exercised as of 2007. It was thus decided that the Retailing business would be deconsolidated from the GROUPE BOURBON accounts as of July 1st 2005.

• 19th May 2005 : distribution of CBo Territoria stock

The distribution of in-kind dividends, in the form of one CBo Territoria share for each GROUPE BOURBON share held, took place at the close of business on May 18th 2005. This stock dividend comes under the tax benefit provided for in article 115 of the French General Tax Code (tax exemption for income resulting from this distribution for physical persons).
GROUPE BOURBON shares will be quoted exclusive of CBo Territoria stock dividend as of May 19th 2005 and CBo Territoria shares will be listed on the Alternext market of the Paris stock exchange as of this same date.

• Resolutions for the Annual General Meeting on June 7th 2005

GROUPE BOURBON has now achieved its aim of focusing on one sole profession : Marine Services.
In this context, the AGM of June 7th 2005 is called to vote on a simplification of the company name, from « GROUPE BOURBON » to simply « BOURBON », together with the attendant transfer of the registered office from Réunion Island to Paris.

Upon completion of its gradual rationalization, with a modern fleet of over 250 vessels, GROUPE BOURBON will maintain its position as a leading Towage operator and pursue its development on the buoyant markets of marine services for offshore oilfields, notably in deep waters, and maritime solid bulk transport.

NB: Until the decision was taken, GROUPE BOURBON had a share of 66.66% in VINDEMIA and Casino a 33.33% share.