Reverse Stock Split

Paris, December  16, 2005 - 

In accordance with commitments made earlier this year, the consolidation of Bull shares will be implemented from Monday, December 19, 2005 as of market open.

This consolidation will be carried out as follows:

• Consolidation parity: exchange of 10 old shares against 1 new share

• Quantity of shares to be consolidated: 967 857 990 with a € 0,01 nominal value

• Quantity of new shares to be created by the consolidation: 96 785 799 with a € 0,10 nominal value

• Trading place of shares to be consolidated: Eurolist B, Euronext Paris

• ISIN code of shares to be consolidated: FR0000052607

• ISIN code of post consolidation shares: FR0010266601

The consolidation will happen automatically for each lot of 10 old shares. Shareholders who do not have a quantity of old shares corresponding to a multiple of 10 will be responsible for dealing with left-over shares. Old shares will remain listed until December 19, 2007.

As of the end of a two-year period, post consolidation shares corresponding to any shares that have not been consolidated will be sold automatically. The proceeds of the sale will be redistributed to indemnify holders of non-consolidated shares. In case this repayment is not immediately feasable, the corresponding amount will be held for a period of 10 years by Credit Agricole Investor Services (CAIS) CT, 14, rue Rouget de Lisle, 92130 Issy-les-Moulineaux Cedex 9, in an account for the benefit of the shareholder.

Investor Relations

Peter Campbell
rue Jean Jaurès - 78340 Les Clayes sous Bois - France
Phone: +33(0)1 30 80 32 36
E-mail: