Fimalac International Business Support Services Group.

Business Editors

PARIS--(BUSINESS WIRE)--March 12, 2003

At its March 11, 2003 meeting, Fimalac's (REUTERS:LBCP.PC) (BLOOMBERG:FMLCF) (SICOVAM:3794.PA) Board of Directors reviewed the financial statements for the year ended December 31, 2002 which show recurring income in excess of the estimate provided on January 27, 2003 when the share issue was announced.

On a like-for-like basis, taking into account changes in scope of consolidation and currency effects, recurring net income climbed 15% year-on-year. As announced, Fimalac ended the year with a net loss of EUR32.2 million due to exceptional write-downs concerning Beissbarth, the garage equipment subsidiary of Facom. The Board of Directors also reviewed the results of the share issue. In an unfavorable stock market, take-up of the shares by institutional investors and the public represented over half of the free-float and Fimalac would like to thank its shareholders for their confidence.

I) RECURRING INCOME AFTER TAX UP 15% (on a like-for-like basis)

(in EUR millions)                   2001             2002


Published recurring income          96.4            101.8

Tax on recurring income            (34.9)           (38.2)

Minority interests                  (4.4)            (5.1)

Published recurring income
 after tax                          57.1             58.5       +2.5%

Changes in scope of
 consolidation                      (1.2)            (3.6)
                                    55.9             62.1      +11.1%

Changes in exchange rates                             2.2

Recurring income after tax
 on a like-for-like basis           55.9             64.3        +15%

On a published basis, recurring income after tax amounted to EUR58.5 million in 2002. On a comparable structure basis, the year-on-year increase was 11.1%. Changes in structure included the deconsolidation of Secap and Pacsud (an LBC subsidiary) in 2001 and the 2002 acquisitions of Illuminating Experiences (by Cassina), Fitch Risk Management and Core Ratings. On a like-for-like basis, taking into account the fall in the value of the dollar and other currency effects, recurring income after tax rose by 15%.

This performance was better than the estimate provided in January. Fimalac's diversified line-up of businesses and its geographic diversification helped the Group to weather the storm despite the difficult economic conditions.

II) NET LOSS: EUR32.2 million

As previously announced, in view of Beissbarth's financial position and the worsening economic climate in Germany, an exceptional charge of some EUR72 million was recorded in the 2002 financial statements corresponding to the total write-down of Beissbarth goodwill and trademarks and the partial write-down of various other assets.

Due to this exceptional charge, Fimalac ended the year with a net loss of EUR32.2 million.

III) 2002 DIVIDEND: EUR0.95 PER SHARE

At the June 4, 2003 Annual General Meeting, the Board of Directors will recommend a dividend of EUR0.95 per share (excluding the tax credit), unchanged from 2001. Shareholders will be offered a stock dividend alternative.

IV) RESULTS OF THE SHARE ISSUE

The EUR100 million share issue was taken up in full. Fimalac's main shareholder, Groupe Marc de Lacharriere (and the shareholders acting in concert with this company) invested EUR75 million, Clymene EUR7 million and institutional investors and the public EUR18 million, taking up shares representing over 50% of the free float. This high take-up rate testifies to the confidence of our shareholders.

The new shares and the "BASA" stock warrants attached to the shares were listed on Euronext Paris SAs Premier Marche on March 10. Following this share issue, Fimalac's ownership structure is as follows:

                                                         % of capital

Groupe Marc de Lacharriere (and shareholders acting in
 concert)                                                       58.4%
Treasury shares                                                  7.2%
Public and institutional investors                              34.4%
                                                                 100%

V) OUTLOOK FOR 2003

The current uncertain political and economic climate coupled with the lack of visibility concerning global economic trends calls for prudence. Nonetheless, thanks to the Group's balanced portfolio of businesses, free cash flow should increase in 2003, providing us with more room to maneouvre.