Consolidated 1999 net income up 49.3%.

Business Editors

PARIS--(BUSINESS WIRE)--March 13, 2000

Seche Environnement Group's consolidated net income at 31 December 1999 amounted to (EUROS) 10.3 million (FRF 67.5 million), up sharply against that for the previous year ((EUROS) 6.9 million, FRF 45.2 million).

The sharp growth at all levels of the balance sheet reflects the strength of activity throughout the year as well as the improvement in margins.

----------------------------------------------------------------------
At 31 December      1998                 1999            Change 99/98
----------------------------------------------------------------------
               In FRF m  In(EUROS)m  In FRF m  In(EUROS)m
               -------------------------------------------------------
Sales            301.1      45.9        409.8     62.5      + 33.8 %
o.w.
 envt.
 tax/TGAP         18.4       2.8         31.1      4.9         (1)
Gross
 operating
 income           81.4      12.4        110.9     16.9      + 36.3 %
Recurrent
 income           17.1      12.5        112.4     17.1      + 36.8 %
Group net
 income           45.2       6.9         67.5     10.3      + 49.3 %
----------------------------------------------------------------------

(1) change excluding the impact of the TGAP (General Tax on Polluting Activities).

Results driven by growth in activity and improving margins

Seche Environnement registered particularly high levels of activity in 1999, with growth in sales of 33.8% in relation to 1998 (excluding the impact of the TGAP).

The Group is essentially positioned on final waste treatment markets, and has excellent fundamentals (no ecological liabilities, quality industrial processes and environmental security), which will enable it to benefit fully from the very positive medium-term trends on its growth markets.

The Group's margins have improved sharply due to productivity gains:

-- Operating income rose by 36.6% against 1998, amounting to 29.3% of
consolidated sales (excluding the TGAP), compared with 28.8% at 31 December
1998. The increase in operating profitability is due to an improved costs
structure, a limited increase in the wage bill and amortisation (scale effect).
Productivity gains therefore fully offset the increase in variable costs,
notably in terms of Transport sub-contracting (+72%) and the annual provision
for thirty year risk, booked for the first time in 1999 for an exceptional
amount of EUROS 1.4 million.

-- In view of improved financial income, 1999 recurrent income before tax rose
by 37.1% in relation to 1998 to 29.7% of consolidated sales (excluding the
TGAP), compared with 29.0% the previous year.

Due to the contribution of extraordinary income (capital gains on the sale of vehicles) in the amount of EUROS 0.3 million and a reduction in taxes, Group consolidated net income amounted to EUR 10.3 million (FRF 67.5 million) in 1999, 17.9% of consolidated sales (excluding the TGAP), compared with EUROS 6.9 million (FRF 45.2 million) in 1998, 16.0% of consolidated sales.

The outlook for 2000 is positive

In view of activity levels in the first months of 2000, Seche Environnement plans to continue on its traditional organic growth path.

Tight control of operating conditions should maintain margins around current levels.