Gascogne

Legal Proceedings Report • Nov 30, 2011

Saint-Paul-Lès-Dax, 30 November 2011

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

The company GASCOGNE S.A and its wholly-owned subsidiary GASCOGNE SACK DEUTSCHLAND have decided to institute appeal proceedings, before the European Court of Justice, against the decision of the General Court of the European Union to reject their application for annulment of the European Commission's decision in 2005.

On 30 November 2005, the European Commission ruled against GASCOGNE S.A and its whollyowned subsidiary GASCOGNE SACK DEUTSCHLAND for a cartel on the "Plastic Industrial Bags" market in Germany. The company GASCOGNE SACK DEUTSCHLAND was at that time sentenced to pay €13,200,000 of which GASCOGNE S.A was held jointly and severally liable for the sum of €9,900,000. The application for annulment of the Commission's decision was rejected in a ruling delivered on 16 November 2011 by the General Court of the European Union.

GASCOGNE S.A and GASCOGNE SACK DEUTSCHLAND have decided to institute appeal proceedings, before the European Court of Justice, against this ruling by the General Court of the European Union. Payment of the fine imposed on GASCOGNE S.A and GASCOGNE SACK DEUTSCHLAND will only be due upon the final decision of the European Court of Justice. The amount of the fine and legal interest has been fully provisioned in the companies' financial statements.

Financial information manager Jérôme MONTOYA - Chief Financial Officer Tel: +33 (0)5 58 56 54 01 - Fax: +33 (0)5 58 74 55 48 jmontoya@groupe-gascogne.com

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