This transaction also reflects the two groups' desire to strengthen their partnership and extend it to international markets.

Presse Publications SR SA owns all the Edipresse Group's publishing and printing activities in Switzerland (in particular 24 Heures, Tribune de Genève, Le Matin, Bilan). By assuming 100% ownership of its Swiss activities, Edipresse SA will make them simpler to manage.

Through becoming a major direct shareholder in Edipresse SA, PubliGroupe SA is adding an international dimension to the relations between the two groups. Currently, the Edipresse Group is active in Southern European (Spain, Greece, Portugal) and in emerging markets (Poland, Romania, Ukraine, Mexico). PubliGroupe SA has an advertising agency network covering European, American and Asian markets. It also has an interest in certain publishing activities in Asia, where co-operation between the two groups is under study.

The Edipresse SA shares to be transferred to PubliGroupe SA in exchange for its holding in Presse Publications SR SA will come partly from Edipresse SA's portfolio of treasury shares and partly from a capital increase, equivalent to 7.4% of the current capital. An extraordinary general meeting of Edipresse SA shareholders will be called for early 2003 in order to approve this increase.

Subject to the approval of Edipresse SA shareholders, completion will occur by the end of the first quarter 2003, with the transaction taking effect as of 1st January 2003.

The Federal Cartel Office (Commission de la concurrence) has been advised of the transaction, which is not subject to notification.

Contact us

For further information:

Publigroupe SA
H.-P. Rohner
Avenue des Toises 12
CH - 1002 Lausanne
Phone +41 (0)21 317 72 02
E-mail hprohner@publigroupe.com
Web site www.publigroupe.com

Edipresse SA
C. Bolton
Avenue de la Gare 33
CH - 1001 Lausanne
Phone +41 (0)21 349 45 26
Email
Web sitewww1.edipresse.com