ELECTRONIC AND COMPUTERISED TOLL COLLECTION SYSTEMS

FINANCIAL YEAR 98/99

Strong increase in 1999 net profits : + 52 % Net margin rate doubled
Order book : + 43 %

The French leader in software and electronic toll systems, GEA achieved net sales of 178.5 MF in 1999, reflective of the group's strategy of refocusing its business on high added value services.

To such end, GEA is orienting itself towards the development of "turnkey" solutions, including a growing share of software development.
Thus, the gross margin rate went up from 32 % in 97/98 to 53.9 % in 1998/99.
The operating results increased significantly by 72.3 % and the Income by 52 % : the net margin rate more than doubled at 8 %.

Such results show the increase of contracts in Brazil and Denmark and a controlled change in structures (the software team includes 43 people and accounts for more than half the personnel, shop and administration excluded).

Equity is strengthened at 104.6 million francs, compared to 92.2 million in 97/98, the net cash position reaches 42.7 million francs (36 in the previous year), with no debts.

FUTURE

The future is very promising, GEA enjoys a top position and a technological lead, two major assets in a promising and technologically changing market.
GEA initiated the first fully automated toll (A 89 highway) scheduled for the first quarter of 2000. On September 30, 1999, orders were in for 230 million francs, up 43 % compared to last year.

The Board of Directors will propose the payment of an FF 3.60 overall dividend per share to the Ordinary General Meeting, which will be held in March 2000. Code Sicovam 5303

Code Sicovam : 5303

Grégori ZASS Secrétaire Général Tél : 04 76 90 72 72