The 1999 results for Elf Gabon, which reported net income of $114.3 million, were approved at the General Meeting held today in Libreville.

The dividend for the year after taxes was set at $25 per share.

The Board of Directors of Elf Gabon met following the General Meeting and established the dividend payment terms:

• The $25 per share will be paid as of June 19, 2000, in euros or in French francs (or the equivalent in CFA francs) based on the Banque de France US dollar rate on June 8, 2000 (1.0343 euros or FF6.7848 = $1) or a payment of 25.86 euros or FF169.62 per share.

• Payment will be made at the following banks:

In Gabon - Union Gabonaise des Banques

In France - Crédit Lyonnais, BNP Paribas, Crédit Commercial de France, Crédit Industriel et Commercial, Crédit du Nord, Société Générale.