FCI chooses AXA Private Equity for the purchase of its MAI (Military/Aeronautics and Industrial) Division Paris, Monday December 23, 2002

AXA Private Equity, one of the market leaders for investment in unlisted companies, has signed an agreement with FCI, Areva group’s connector subsidiary, for the share purchase of the MAI (Military/Aeronautics and Industrial) Division.

The new company is to be named Souriau.

After examining the bids received in detail, taking particular note of the operational and human resources implications of each, as well as the price offered, the FCI group in September offered AXA Private Equity exclusive negotiating rights to the deal.

AXA Private Equity and its co-investors along with the management team will own the whole acquisition vehicle.

The new shareholders intend to maintain the current business strategy. Their aim is to further strengthen the company’s commercial position on its main markets.

With 2002 sales estimated at €155 million and 1,200 employees worldwide (800 of them in France), MAI leads the European market in specific connectors for industrial, aeronautics, space and defence applications.

MAI has production plants in France, the US, the Dominican Republic and Morocco, as well as additional units in India and Japan, and sales offices in more than 15 countries worldwide.

The deal is subject to approval by the appropriate regulatory and privatisation authorities.

About FCI

Created in 1989, FCI - an Areva Group company - rapidly secured its place among the world’s top three manufacturers of connectors and interconnect systems. With a turnover of € 1.97 billion ($ 1.8 billion) in 2001, FCI currently operates in 29 countries where it covers the following markets: communications, data, consumer, industrial, military, aerospace, automotive and electrical power interconnect. The company employs 16 000 staff worldwide.For automotive applications, FCI is the fourth largest connector-maker worldwide and the second in Europe, with a 2001 turnover of € 500 million.