This information is based on the value of the Total share BEFORE the four-for-one split, effective May 18, 2006.
First Public Exchange Offer
Offer period: September 23 to October 15, 1999
Basis of the offer: 19 Totalfina shares for 13 Elf Aquitaine shares
Value of each Totalfina share received: € 121.80
The capital gain qualifying for rollover relief in France, if any, and any subsequent capital gains are calculated on the basis of the value of each Totalfina share received under the offer.
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 French Tax Treatment of The Public Exchange Offers |
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| Squeeze-out
Offer period: June 15 to September 1, 2000
Basis of the offer: 4 TotalFinaElf shares for 3 Elf Aquitaine shares
The value of each TotalFinaElf received under the offer is no longer relevant, following a change in French tax rules. Under the new rules, applicable from January 1, 2000, the taxable gain, if any, on the sale of the TotalFinaElf shares is calculated by reference to the cost of the Elf Aquitaine shares, taking into account the exchange parity.
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French Tax Treatment of The Public Exchange Offers |
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| Since November 6, 2000, Elf Aquitaine shares have been traded in the delisted shares section of the Paris Bourse ("compartiment des valeurs radiées des marchés réglementés"), where the price is fixed daily at 3:00 p.m. Elf Aquitaine shares continue to be quoted under ISIN code FR 000 120 420.
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