AXA Private Equity, in association with company management, starts exclusive negotiationsfor the Management Buy-Out of the Tokheim International group Paris, Tuesday December 3, 2002

AXA Private Equity, one of the market leaders for investment in unlisted companies, starts exclusive negotiations for the MBO of Tokheim International, the leading manufacturer and servicer of petrol pumps and associated systems in Europe and Africa.

Tokheim International, a subsidiary of Tokheim Corporation, has 2,800 employees and expects to generate sales of over € 340 million in 2002. Its experienced management team, which will be involved into the capital of the transaction, is key to its success. The group operates in Europe (80% of sales), Africa, and, increasingly, Asia. It ranks among the market leaders in both Europe and Africa, with a particularly strong positioning in France, the Benelux countries, Spain and Germany. Tokheim International has always been profitable and has enjoyed considerable autonomy from its US parent company, Tokheim Corporation, which filed for Chapter 11 bankruptcy on 21 November 2002, due to financial difficulties completely unrelated to its international subsidiary, in order to facilitate the sale of its activities.