AXA Private Equity acquires control of Camaieu Paris, Monday 31 January, 2005

On January 31, 2005 Financière Addax, a special purpose vehicle controlled by AXA Private Equity, bought a controlling stake in Camaïeu and now owns 39.8% of the capital and 55.1% of the voting rights.

The Torck and Giraud-Verspieren families, in addition to certain members of the Camaïeu management team, sold and/or contributed their direct or indirect shareholding in Camaïeu for a price of € 85 per share.

In the coming days, Financière Addax will file with the Autorité des marchés financiers (AMF) an offer for the remaining Camaïeu shares for the same price of € 85 per share. This offer and the related prospectus will be submitted to the AMF for approval.

About Camaïeu

Camaïeu is a specialist in ready-to-wear clothing offering young women aged 20-40 an accessible range of products at affordable prices. At the end of 2004, the retail chain operated 442 stores in eight countries. In 2003, it generated consolidated sales of € 364 million and a net income of € 37 million.

For further information, www.camaieu.com

Press contact:
Bénédicte Delaby - Tel.: +33 (0)3 20 99 71 13
bdelaby@camaieu.fr