Groupe Eurotunnel to reconstitute TNU PLC and TNU SA shareholders’ funds (previously Eurotunnel PLC and Eurotunnel SA)

At its meeting on 7 November 2007, the Board decided to proceed with the reconstitution of shareholders’ funds in its subsidiaries, TNU SA and TNU PLC, as part of the implementation of the Safeguard plan.

This technical operation will take the form of an intragroup recapitalisation of TNU PLC and TNU SA to an amount of 2.574 billion euros, carried out by set off against the old Tier 3 debt held by Eurotunnel Group UK PLC, leading to a strong decrease in the percentage of capital held by shareholders who did not tender their shares to the offer.

Extraordinary General Meetings of TNU PLC and TNU SA shareholders will be held on 21 December 2007 in Coquelles, France to approve this technical operation.

Notice of meetings will shortly be published and sent in the appropriate form and according to the regulatory legislation.

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