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Organic Growth figures released

For the first nine months of fiscal 2004-2005 consolidated revenues totaled 8.9 billion euro, with organic growth in revenues of 4.2% at a constant consolidation scope and excluding exchange rate effects. This performance confirms our organic growth objective of around 4% for the full year.

In North America organic growth accelerated to 4.6%.

The Business and Industry segment, including Defense, declined by only 0.5% including a decrease of 0.1% in the Business segment and 4.7% in Defense. The adjustments that we have requested of the US Marine Corps have not yet been finalized and continued to weigh on our performance. In addition, new clients include the Cincinnati Museum Center and American Broadcasting Company (ABC) in the U.S. and the Ontario Ministry of Agriculture, Canada Post and OPG Pickering in Canada.

Organic growth of 7.5% in Healthcare illustrates the particular dynamism of our sales teams, both in the acute-care and seniors markets. Among recent new contracts awarded are those signed with Piedmont HealthCare System (South Carolina), University Hospitals Health System -- UHHS (Ohio) and Stanford University (California) in acute-care, and Hillcrest (Pennsylvania) and Hollywood Presbyterian (California) in the seniors market.

Education also reported good performance with organic growth of 5.8% due to increased patronage on sites we manage and the opening of a number of contracts signed last summer. Recent successes during the current bidding season include, in food services, St. John`s University (New-York) and, in multi-services, the University of Birmingham in Alabama.