Paris, June 15, 2004 - The 2003 results for Total Gabon, which reported net income of $195.7 million, were approved at the General Meeting held today in Libreville.

The dividend for the year, net of withholding tax, was set at $37 per share.

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

• The $37 per share will be paid as of June 29, 2004, in euros based on the European Central Bank US dollar exchange rate on June 15, 2004 , or against its rate in CFA Francs , ( $ 1 = € 0.8298 ) that is to say a payment of 30.70 euros per share.
  
  
• Payment will be made at the following banks :
  
  

  • In Gabon - Union Gabonaise de Banque (UGB)

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

Conforming with the legislation in Gabon and the bilateral conventions between France and Gabon, the dividend will qualify for a limited tax credit of $0.05 per share in France, corresponding to the amount withheld at the source in Gabon.