Fimalac Like-For-Like 2000 Full-Year Sales Up 11.1%.

Business Editors

PARIS--(BUSINESS WIRE)--Feb. 12, 2001

Fimalac, the French diversified services group, today reported full year 2000 consolidated sales of EUR 1,336.9 million (FRF 8,769 million). On a constant structural basis, sales grew 11.1% over the 1999 level, reflecting steady growth at the Group's two core businesses - Fitch and Facom - and healthy performances at LBC, SECAP and Cassina, as well as the gradual disposal of activities which have become non-strategic, including Engelhard-CLAL.

Accelerated concentration on Fimalac's two core businesses

Fitch, the world's third largest ratings agency, a rapidly growing sector, carried out two major transactions in 2000 with the acquisition of Duff & Phelps and Bankwatch.

Facom recorded favorable performances in its key activity, hand tools, where it strengthened its European leadership, while successfully pursuing its diversification into garage equipment.

Together, Fitch and Facom accounted for over 65% of Fimalac's consolidated 2000 sales. Their relative contribution should further increase in 2001 with Facom's continued development and the full-year integration of Duff & Phelps and Bankwatch within Fitch.

Steady growth at LBC, SECAP and Cassina

LBC, the world's second largest chemicals storage company, also recorded healthy growth in 2000, thanks to the development of its international network of facilities. LBC's storage capacity doubled over the past five years.

SECAP's 2000 activities were fueled by growth in its traditional mail-handling equipment, thanks to the launch of high-performance products incorporating advanced technologies developed by its teams.

Finally, Cassina, the world leader in upscale designer furniture, posted an excellent year, as its brand and the quality of its products gained further recognition around the world.

Further disengagement from non-strategic activities

Pursuant to its strategy, in 2000 Fimalac sold two companies who no longer met its criteria - Clestra in May and ANFA in July.

In addition, as previously announced, Fimalac took active steps in 2000 to divest its non-strategic precious metal transformation activities. Engelhard-CLAL's jewelry and electrical contacts divisions - representing 45% of the company's total sales - have already been disposed off. Concurrently, Fimalac's interest in Engelhard-CLAL was reduced to 49%.

Reflecting these divestitures as well as Fimalac's reduced interest in Engelhard-CLAL, the company's sales are no longer proportionately integrated in Fimalac's consolidated sales, effective retroactively to January 1, 2000. This change will have no impact on Fimalac's 2000 consolidated net income.

Fimalac, S.A., which is traded on the Paris stock exchange, has interests in a variety of service activities, primarily the world's third largest rating agency through Fitch, and hand tools and garage equipment through its subsidiary Facom.