Equant Wins Five-year, Multimillion Dollar Global Networking Contract from GlobalValue, a Fiat Group and IBM Company.

Business Editors

WASHINGTON & MILAN, Italy--(BUSINESS WIRE)--May 6, 2004

Under This Contract, Equant Will Design and Implement for Iveco a

Secure, Integrated Networking Solution Linking 50 Global Offices

Equant has won a five-year, multimillion dollar contract from GlobalValue, a Fiat Group and IBM company, to design and implement for Iveco a secure, integrated networking solution linking 50 global offices.

Headquartered in Turin, Italy, Iveco is one of the leading international manufacturers of commercial vehicles and diesel engines. Equant's IP VPN solution links Iveco offices in 15 countries including: Australia, Belgium, Brazil, China, Denmark, France, Germany, Holland, Hungary, Portugal, Slovakia, Slovenia, Spain, Switzerland and the United Kingdom.

"The advantages of Equant's solution are above all economic," said Mario Leone, Iveco's chief information officer. "Equant ensures a uniform level and quality of services which will guarantee the same performance in both Europe and other parts of the world. In addition to its reliability and extensive nature we are also satisfied by the ongoing monitoring of components which might cause problems. Here again, Equant has high-grade skill to detect and proactively solve any issue we may have."

Initially, Iveco will use Equant's IP VPN solution for the transmission of data. By the end of the year, Iveco will converge voice, video, customer relationship management software and an extranet onto the IP VPN.

Iveco Benefits from MPLS-based IP VPN

Economy: The IP VPN is designed to help Iveco gain appreciable economies of scale from Equant's worldwide network and seamless services. In addition to network flexibility, the ease of connection to new offices and the future convergence of data, voice and video on a single network will enable additional savings.

Security and reliability: Equant IP VPN is a secure, reliable private network that will provide Iveco's remote LANs with a transparent connection to any other LAN within the Group.

Flexibility: The "plug-and-play" capability of Equant's IP VPN also allows Iveco to easily interconnect new sites as the company expands. Since the system is scalable, it can also satisfy future traffic capacity requirements. The primary advantage of IP convergence is the ability to have all types of traffic on the same infrastructure. So, at a later stage, voice and video can be fully integrated into the solution.

Traffic prioritization: Equant's MPLS-based IP VPN solution with five classes of service enables Iveco to prioritize its business communications applications or company IT systems, as well as Internet and intranet browsing and video and voice traffic in the future.

Customer services: A complete range of reporting services, with near real-time monitoring and Web-based tools, will make it possible for Iveco to easily check network performance. The service includes network management 24 hours a day, seven days a week, and fault handling for all service components.

Network coverage: Equant's superior geographic coverage - in 220 countries and territories - allows Iveco to offer the same quality of performance and services in all countries where it is present. In addition, Equant provides local support in approximately 165 countries.

Mauro Dezi, Italy country manager, Equant, said: "Our IP MPLS network technology, developed together with Cisco, for whom we are a Gold Certified Partner worldwide, will provide Iveco with the high level of availability and reliability through a single worldwide network. The solution adopted completely fulfills current service requirements for reliability, capillarity extensiveness, post-sales support and monitoring."

About Iveco

Iveco, a Fiat Group company, is one of the largest manufacturers of industrial vehicles and diesel engines in the world. It was created in 1975 by the merger of five major traditional European brands, which have been joined by other companies in subsequent years. In the last few years it has kept up its international outlook developed through strategies targeted mainly on emerging countries.

About Equant

Equant (NYSE: ENT) (Euronext Paris: EQU) is a recognized industry leader in global communications services for multinational businesses. Equant combines its network expertise - including unmatched seamless network reach in 220 countries and territories and local support in approximately 165 countries - with its expanded services capabilities to provide global, integrated and customized communication services to enable its customers key business processes. Equant serves thousands of the world's top companies, with the industry's most extensive portfolio of communications services and network solutions, including the market-leading IP VPN used by more than 1,200 global businesses as of March 31, 2004. Equant, a subsidiary of France Telecom, was named Best Global Carrier 2003 and Best Managed Service 2003 at the World Communication Awards and consistently leads industry surveys in corporate user satisfaction.

This release may contain projections or other forward-looking statements related to Equant that involve risks and uncertainties. Readers are cautioned that these statements are only predictions and may differ materially from actual future results or events. Readers are referred to the documents filed by Equant with the SEC, specifically the most recent filing on Form 20-F, which identifies important risk factors that could cause actual results to differ from those contained in the forward-looking statements, including, among other things, risks relating to our history of operating losses, the unpredictability of growth in our industry, the fact that the interests of France Telecom, our largest shareholder, may differ from the interests of our other shareholders, changing technology, uncertain and changing regulatory restrictions, currency fluctuations, dependence on suppliers, network security issues, intense competition, in our industry, and volatility of our stock price. All forward-looking statements are based on information available to Equant on the date hereof, and Equant assumes no obligation to update such statements.