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Thales and DCN welcome Brussels decision on closer ties between the two groups

20 March 2007

In February 2007, the French government and Thales submitted the convergence plan to the European Commission for approval. The plan involves the acquisition by Thales of a 25% interest in DCN and the acquisition by DCN of Thales's French naval businesses (excluding its equipment activities) and its interests in the Armaris and MOPA2 joint ventures.

The project is the latest step in a long-standing relationship between Thales and DCN. The partners set up Armaris in 2002 and have successfully worked together on numerous programmes for the French and export markets. The purpose of the convergence operation is to create a leading European prime contractor for major naval programmes with the resources to play a pivotal role on international markets.

The operation will strengthen DCN's position as an integrated industrial actor in naval defence. The company has an order book worth some 10 billion euros and expects to generate 3 billion euros in annual revenues with a workforce of approximately 13,300.

"Thales and DCN welcome the decision announced today by the European Commission. The operation should now close by the end of March 2007, provided it is also approved by the French government's holdings and transfers commission," said Thales Chairman and CEO Denis Ranque and Jean-Marie Poimboeuf, Chairman and CEO of DCN.

About DCN
DCN is a major player on the European and world markets for value-adding naval defence systems. As a naval prime contractor, shipbuilder and systems integrator, DCN combines resources and expertise spanning the naval defence value chain and entire system lifecycles. DCN offers client navies a wide range of innovative solutions from fully integrated warships to strategic systems, equipment and services.

DCN employs 12,700* people and generated €2.7 billion in revenue in 2006.

* direct employment

About Thales
Thales is a leading international electronics and systems group, serving defence, aerospace and security markets worldwide, supported by a comprehensive services offering. The group's civil and military businesses develop in parallel to serve a single objective: the security of people, property and nations. Leveraging a global network of over 20,000 high-level researchers, Thales offers a capability unmatched in Europe to develop and deploy critical information systems. Thales employs 70,000 people in 50 countries and generated revenues of € 10.3 billion in 2006, with a record order book of over € 20 billion.

With about 7,000 employees in 15 countries contributing to the group's naval operations, Thales is a world leader in integrated naval programmes and combat systems. The group has equipped numerous types of vessels for the naval forces of more than 50 countries.

About Thales
Thales is a leading international electronics and systems group, serving defence, aerospace and security markets worldwide, supported by a comprehensive services offering. The group's civil and military businesses develop in parallel to serve a single objective: the security of people, property and nations. Leveraging a global network of over 20,000 high-level researchers, Thales offers a capability unmatched in Europe to develop and deploy critical information systems. Thales employs 70,000 people in 50 countries and generated revenues of € 10.3 billion in 2006, with a record order book of over € 20 billion.

With about 7,000 employees in 15 countries contributing to the group's naval operations, Thales is a world leader in integrated naval programmes and combat systems. The group has equipped numerous types of vessels for the naval forces of more than 50 countries.



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