Gascogne

Share Issue/Capital Change • Jul 11, 2012

St-Paul-lès-Dax, July 11, 2012

P R E S S R E L E A S E

Reduction of the par value per Gascogne share

The annual general meeting of June 5, 2012 has decided to reduce the par value per share from € 15 to € 5 in order to take into account the evolution in share price.

This purely technical operation results in a reduction of share capital of €19,939,630 allocated to a share premium account.

It will have no impact on the shareholders'equity amount nor on the number of Gascogne shares in issue.

Financial information manager Investor relations Media relations Tel.:+33(0)5 58 56 54 01 Tel.:+33(0)1 53 67 35 71 Tel:+33(0)1 53 67 07 80

Jérôme MONTOYA - CFO Clémence Fugain, Actus Jean-Michel Marmillon, Actus

About Gascogne group: Major player in the French wood industry, the Gascogne group is present at every stage in optimising the forest resource; it is the only French player fully integrated throughout the entire chain of the wood-paper-conversion sector. It has four complementary divisions: Gascogne is France's leading multi-specialist producer of wood products, the world's leading producer of natural machine glazed kraft paper, one of the European leaders of industrial and consumer sacks and one of the world's leading producers of laminates for packaging and protection applications..

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