SOURCE: SANEF

December 14, 2005 07:08 ET

SANEF : Purchase of 75% of Sanef's capital by a consortium led by abertis : the best shareholders for Sanef's strategic plan

Paris -- (MARKET WIRE) -- December 14, 2005 -- On December 14th the French Government announced its decision to sell the State's 75% stake in Sanef to a consortium led by abertis, a Spanish group listed in Spain. The consortium (Transport Infrastructure Holding) in which abertis is the majority stakeholder, also includes : the Caisse des Dépôts, the CNP, the insurance companies Axa and Prédica (Crédit Agricole) and the holding company Société Foncière, Financière et de Participations (FFP). Pierre Chassigneux, Chairman of Sanef, stated that "together they represent the best shareholders for the strategic development plans of Sanef ."

The Sanef Group is pleased with the French State's choice, which will allow it to accomplish its ambitions in concessions and in telematic services, and to build with abertis and its partners a major global player that will be a new reference point in the infrastructure sector.

Henri Jannet, Managing Director of Sanef, stated that the "partnership to be built will be a win- win development for Sanef, abertis and the other consortium partners" :

- For the Sanef Group, on account of :

. The quality of the abertis consortium companies, that constitute a solid base of long term shareholders that are financially sound and strong.

. The consortium plans that provide for continued stability in the company's social relations.

. The new shareholders support for Sanef's development projects in concessions and telematic services in Europe.

. An industrial development plan that calls for expansion into other business segments in France (parking lots, logistics platforms, telecoms infrastructure and airports.)

. Substantial planed budgets for investment that will ensure a high quality of service, as required by clients, and as stipulated by the concession contract with the State.

- For the consortium, which recognises that Sanef is a very high quality asset and a major player in the French motorway sector. The financial partners of the Transport Infrastructure Holding will benefit from the quality of Sanef's business model, recognised at the time of its IPO as an investment case that provides attractive returns and growth potential as well.

The transfer process will now proceed, including certain substantive steps such as consulting the Board and employee representatives.

This combination of companies will give rise to a major international group, a leader in the infrastructure operators segment; the convergent strategic plans of Sanef and its future shareholders underpin Sanef's future success.

The Sanef Group, Europe's 4th largest motorway concessionaire located in Europe's economic heartland

Group Revenues 1 Billion Euros - 3,600 employees - a network of 1,743 km of motorways.

Sanef is quoted on the Euronext Eurolist A (Euronext code SNF, ISIN: FR0004151561)

Key subsidiaries: Société des Autoroutes Paris Normandie and Masternaut

www.sanef.com

Press Contacts :

Martine Haas

Communication's Manager

Tel : 01 44 38 61 11

martine.haas@sanef.com

Investor Contacts :

Stefan Sater

Investor Relations Manager

Tél : 01 44 38 61 19

stefan.sater@sanef.com

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