The Board of Directors which met on the 10^th of December, 1998, decided, as provided for in the issue contract, to carry out the early redemption on January 1^st, 1999, of all of the 4% convertible debenture notes issued in June 1995.

For a three month period, from January 1^st, 1999 to March 31^st, 1999 inclusive, bond-holders will have the following options :

• they may redeem their bonds at the unit price of FRF 335.84
  or
• they may request that their bonds be converted into shares on the basis of 1.1 share per 1 bond.

For information purposes, Sanofi’s closing share price on December 10^th, 1998 was FRF 939.

Holders of new shares created by the conversion will be entitled to receive any dividend declared in respect of the financial year ending December 31, 1999.

The bonds will cease to bear interest as of January 1^st, 1999.

As from April 1^st, 1999, bonds which are not converted will be redeemed in cash.

In order to conduct the formalities of conversion and redemption, bond holders may contact their usual financial intermediaries.

Press Contact

Thierry Orsoni : 01.53.77.41.08

Investor Relations Contacts

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