Rapid introduction of the future Group's organization, after the approval by the European competition authorities of the proposed merger expected in mid-February 2000, is a top priority. In fact, the new company's ability to combine TOTALFINA and Elf Aquitaine staff effectively and thoroughly is a key factor in the merger's success.

Accordingly, a draft organization (see attached chart) has been prepared for the future Group. The organization of the chemicals business (not shown) will be determined when the Working Group on strategic growth priorities and on the conditions under which the chemicals business will be integrated has completed its review.

As indicated in the statement issued on September 22, the TOTALFINA ELF Executive Committee will be chaired by Thierry Desmarest and will comprise the following members: François Cornélis and Jacques Puéchal, Vice-Chairmen of the Executive Committee; Jean-Luc Vermeulen; Christophe de Margerie; Jean-Paul Vettier; Bernard de Combret; Robert Castaigne; and Bruno Weymuller.

The Executive Committee is the Group's decision-making body with responsibility for defining the strategic orientations submitted to the Board of Directors for approval, and for approving major investments

The TOTALFINA ELF Management Committee will include all members of the Executive Committee and the following senior managers:

Holding	Exploration Production	Refining Marketing	Chemicals
M. Bonnet J.J. Guilbaud I. Howat A. Madec B. Tramier	M. Bénézit Y.L. Darricarrère J.F. Gavalda P. Rambaud	W. Brenckle A. Champeaux J.C. Company Y. Edern A. Tricoire	A. de Broqueville J.B. Lartigue F. Périer J.P. Seeuws H. Woestelandt

The Management Committee coordinates the Group's business units, monitors the performance of the Operational Divisions and reviews reports from the Functional Divisions.

The future Group's management structures have been set up, with a commitment to maintaining a balance between staff from Total, Petrofina and Elf.

The proposed new organization is still in the draft stages. It may not become effective until European competition authorities approve the merger of TOTALFINA and Elf Aquitaine.

Target Organization Chart (97 Ko)