AXA Private Equity buys into Iliad Paris, Wednesday April 16, 2003

AXA Private Equity, a major player in the capital investment field has announced its acquisition from minority shareholders of a significant tranche of Iliad's capital. Iliad is a fixed line telecommunications and Internet services company.

Founded in 1987, Iliad is a multimedia group with a strong presence in France via its subsidiaries specialised in Internet, telecommunications and Minitel services (Free.fr, Online.net, Onetel France, Kertel and 3617 Annu). Over the last 10 years Iliad has been successfully developing high value-added services in the new technologies field and has become a major player in this sector of activity.

With excellent strategic positioning and under top-quality management, Iliad is the only French Internet and telecommunications services group to have posted a positive net profit figure for the second year running: € 23.8 million in 2002.

AXA Private Equity’s acquisition of the group’s minority capital and its forthcoming nomination to the supervisory board will strengthen Iliad’s shareholder structure. The new structure plans to pursue the group’s development and consolidate its leadership on the French market.

Additional information: www.iliad.fr