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Rhodia Shares to Be Sold By Rhone-Poulenc At a Price of 140 French Francs Per Share

PARIS, June 24 /PRNewswire/ -- Rhone-Poulenc S.A. (NYSE: RP) announced today that the shares of Rhodia, its specialty chemical subsidiary, being offered in Rhodia's initial public offering, will be sold at a price of 140 French Francs per share ($23.16 per American Depositary Share). The share price was set according to the bookbuilding procedure, at the conclusion of the operation launched on June 8, 1998.

The proceeds from the public offering, which are expected to be approximately 7 billion French Francs, without taking into account the over- allotment option ("greenshoe"), will contribute to reducing the indebtedness of the Group.

A final prospectus was approved by the French Commission des Operations de Bourse (COB) dated June 24, 1998 (visa no. 98-542).

Rhone-Poulenc S.A. is a leading life sciences company, growing through innovations in human, plant and animal health and through its specialty chemicals subsidiary, Rhodia. With sales in 1997 of FF90 billion (US$15 billion), the company employs 68,000 people in 160 countries worldwide.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission and has been declared effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State. A prospectus meeting the requirements of Section 10 of the Securities Act may be obtained from SBC Warburg Dillon Read, Inc., Swiss Bank Center One, 6774 Washington Boulevard, Stamford, Connecticut, 06912.

SOURCE Rhone-Poulenc S.A.
 -0- 06/24/98

/CONTACT: France, Beverley MILES, 33-1-47-68-09-79, or Anne-Laurence de VERDUN, 33-1-47-68-22-35; or U.S., John H. Abrams, 610-454-5452 or 732-821-3316, or Investor Relations, Dwight Grimestad, 732-821-3487, all of Rhone-Poulenc S.A./

/Company News On-Call: or fax, 800-758-5804, ext. 764050/

/Web site:


CO: Rhone-Poulenc S.A.; Rhodia ST: Pennsylvania IN: MTC HEA SU: OFR

MK -- PHW034 -- 4978 06/24/98 12:49 EDT
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Publication:PR Newswire
Date:Jun 24, 1998
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