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TOTALFINA Extends Expiration Date of U.S. Increased Exchange Offer for ELF |
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| Sep. 30, 99 |
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PARIS, FRANCE-- September 30, 1999 -- TOTALFINA today announced the extension to 11:00 a.m., New York City time, October 15, 1999, of the expiration date of its increased U.S. offer to exchange nineteen shares of TOTALFINA for thirteen shares of ELF AQUITAINE and nineteen American depositary shares (ADSs) of TOTALFINA for every thirteen ADSs of ELF AQUITAINE. The U.S. exchange offer is being made to holders of ELF AQUITAINE ADSs and to U.S. persons holding ELF AQUITAINE shares. The U.S. exchange offer described above is being made pursuant to a prospectus dated September 29, 1999, which prospectus was filed with the Securities and Exchange Commission in a post-effective amendment to registration statement on Form F-4 and declared effective on September 29, 1999.
The TOTALFINA U.S. exchange offer is being made concurrently with an exchange offer in France. The offer in France and the offer in the U.S. will expire on the same day, ie October 15, 1999.
As of the close of business on Wednesday, September 29, 1999, the last business day prior to the announcement of this extension of the exchange offer, 5,303,255 ELF AQUITAINE ADSs were tendered pursuant to the terms of the exchange offer. Under the tendering procedures set for ELF AQUITAINE shares, it is not possible for TOTALFINA to determine the number of ELF AQUITAINE shares tendered at any time prior to the expiration of the exchange offers made in France and in the United States.
The dealer manager for the U.S. exchange offer is Credit Suisse First Boston Corporation and the information agent is MacKenzie Partners, Inc.
This news release is neither an offer to exchange nor a solicitation of an offer to exchange shares or American depositary shares of TOTALFINA. This exchange offer is not being made in Canada. Copies of the prospectus are available on TOTALFINA's web site. |
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