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Creation of the New Space Alliance between Thales and Finmeccanica

10 April 2007

On April 4th 2007, the European Commission approved the transfer to Thales of Alcatel-Lucent's shareholdings in the two space sector joint venture companies Alcatel Alenia Space* (67% Thales - 33% Finmeccanica) and Telespazio (67% Finmeccanica - 33% Thales).

The green light by the European Commission concludes the second phase of the agreement between Thales and Alcatel-Lucent announced on April 5th 2006. It represents the final regulatory approval and enables the creation of the New Space Alliance between Finmeccanica and Thales, to which Alcatel-Lucent will remain associated.

For Thales, this operation is an important strategic move which adds a new space capability dimension (communication, navigation, observation, science), strengthening the group in each of its three core markets: Defence, Aerospace and Security.

Finmeccanica welcomes this operation as an opportunity to establish the New Space Alliance together with Thales as the cornerstone of the European space industry. Both groups share the same vision for the future development of the Alliance and of their combined contribution to the sector. The complementarities of Thales Alenia Space in satellite systems and Telespazio in satellite services, will significantly contribute to strengthen the European Space industry as a whole.

Pascale Sourisse will remain President and CEO of the Thales Alenia Space joint venture company and will join the Executive Committee of Thales. In parallel Giuseppe Veredice remains President and CEO of Telespazio.

"Thales and Finmeccanica welcome the decision announced by the European Commission. This agreement is now finalised, making the New Space Alliance (Thales Alenia Space and Telespazio) between Finmeccanica and Thales a reality. The association of our companies in the Space business will further enhance our leadership in satellite-based technologies and services", said Pier Francesco Guarguaglini Chairman & CEO of Finmeccanica and Denis Ranque, Chairman & CEO of Thales.

* Alcatel Alenia Space will be renamed "Thales Alenia Space".

About Finmeccanica
Finmeccanica is Italy's leading high-tech company, operating in the design and manufacture of helicopters, civil and military aircrafts, aerostructures, satellites, space infrastructure, missiles and defence electronics. It plays a leading role in the European aerospace and defence industry, and participates in some of the biggest international programmes in the sector through well-established alliances with European and American partners. Finmeccanica also boasts significant manufacturing assets and skills in the transport and energy. The group is listed on the Milan stock exchange, and operates in Italy and abroad through its companies and joint ventures. It employs around 57,000 staff in total. As part of its drive to maintain and build on its technological expertise, Finmeccanica spends 15% of its revenues on research and development.

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 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.