Rubis: good momentum - net profit 2005: +25% - dividend per share: +27%

03|09|2006

Following a particularly busy and active year in 2005, RUBIS, the independent specialist in downstream oil and chemical products, recorded a sharp advance in net attributable profit :+ 25%.

(In millions of euros)	2004	2005	Change %
Turnover	255.5	350.2	37.1%
Gross operating profit	44.5	47.4	6.6%
Current operating profit	31.1	34.0	9.4%
Net profit, Group's share	15.2	19.0	25%
Capital expenditures	16.3	19.9	-
Net financial debt	48.5	96.0	-
EPS Fully diluted (in €)	2.19	2.62	19.6%
Dividend per share (in €)	1.50	1.90(*)	26.7%

(*) To be proposed to the Annual General Meeting of 13 June 2006

The accounts for the year 2005 include the effect on consolidation of two major operations:

- The acquisition of the Shell Group's petroleum products distribution business in the French Antilles and Guiana, now named Rubis Antilles Guyane (RAG). This activity has been consolidated since 1 December 2005.

- The sale of the Rubis Gaz Italy division, concluded in December 2005.

Pursuant to the application of the IFRS standard relating to "discontinued operations", the contributions of Rubis Gaz Italy are excluded from the provisional results presented for the RUBIS Group for the years 2005 and 2004. These contributions are therefore included under net profit, Group's share.

Current operating profit shows sustained growth of 9.4%.

While LPG distribution has been operating in a particularly difficult environment, Terminal Operations have experienced strong momentum in growth, benefiting from previous investments.

At the beginning of 2006, when the sale of the Italy LPG operations became definitive, the Group had a solid financial structure (debt to equity ratio of 11%), allowing to seizing new opportunities for development.

Rubis Gaz (LPG distribution)

With stable volumes at 268,000 tonnes, Rubis Gaz posted growth of 6% in gross operating profit, showing once again its ability to increase its profitability and gain positions in a context marked by a sharp increase in supply prices (+24%) and unfavourable weather conditions. This performance was achieved thanks to the commercial dynamism supported by the Group's solid logistical positions.

RAG is adding to existing LPG distribution motor fuel and heating oil, backed by a network of 54 service-stations served by an integrated logistics system, including a holding of 24% in the Antilles refinery.

Rubis Terminal (bulk liquid storage)

Rubis Terminal registered 9% growth in gross operating profit, boosted by its good market positioning and dynamic demand for imports of diesel oil and development of the bio-fuels line.

Capital projects in the Antwerp and Rotterdam port areas are set to contribute to the division's internationalisation.

ANNUAL GENERAL MEETING ON 13 jUNE 2006

During next Annual General Meeting it will be proposed to increase the dividend per share by 26.7% to €1.90 (against €1.50 in 2004).

Forthcoming events:

10 May 2006: Turnover for 1st quarter of 2006

13 June 2006: Annual General Meeting