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Rubis in negotiations to purchase shell's petroleum products distribution business in bermuda


Under the terms of in-depth discussions between the parties, RUBIS is beginning exclusive negotiations with SHELL for the purchase of all SHELL's petroleum products distribution operations in Bermuda, excluding aviation.

The final contract remains subject to approval from SHELL group shareholders and from the relevant authorities. It is expected to be signed during the third quarter of 2006.

The parties intend to maintain the SHELL brand name in the service stations and the existing supply contracts.

The operations concerned represent a volume of 45,000 m3 and revenues of USD 45 million, generating recurring net profit of USD 3.6 million.

Backed by an independent logistics base consisting of two major import store areas for fuels and combustibles and an LPG import terminal, RUBIS will be a leading player in Bermuda both in service stations and LPG supply.

Bermuda is developing a major business in the services sector and tourism and is one of the highest per capita income in the world.

Following the West Indies and French Guyana in 2005, this deal will expand RUBIS' presence in the region with distribution volumes of nearly 300,000 m3, generating supply synergies.

RUBIS, an international operator specialising in downstream petroleum products, is traded on the Euronext Paris market (Compartment B).

ISIN code FR0000121253

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