Total has acknowledged the public offering to purchase 16% of the capital of CEPSA, submitted today by Banco Santander Central Hispano (SCH) to the CNMV (National Securities Market Commission) in Madrid.

Total would like to add that it is not linked in any way to this initiative by SCH, and that Total was not consulted prior to the submission of this offer.

Total considers that SCH has hastily interpreted the Spanish law 26/2003 of July 17, 2003 and that SCH has acted in violation of the mutual agreements governing their relations in CEPSA since 1990.

Total has always been of the view that CEPSA must pursue its development in an efficient manner. Total is ready to take the necessary steps to protect its rights and the interests of its shareholders.