Disposal

Total Fina Elf.
29 October 2002


               TotalFinaElf intends to sell its Paints business             

Paris, October 29, 2002 - The TotalFinaElf group has concluded a memorandum of
understanding with Bain Capital for the proposed disposal of its Paints 
business, run by SigmaKalon.

With this proposed disposal, the Group wants to offer SigmaKalon the opportunity
to develop its growth prospects in an operational, commercial and financial
framework better suited to its activities.

SigmaKalon boasts a leading position in Europe in the decorative paints sector
as well as a major presence in the marine, anti-corrosion and industrial paints
markets.

The completion of the agreement is subject to the trade union information and
consultation procedures and to the approval of the relevant authorities in the
countries concerned.

This project is in line with the plan launched in 2000 by ATOFINA, the Group's
Chemicals branch, to reposition and refocus its business activities.  This plan
entails in particular the disposal of assets amounting to 1.5 billion euros
between 2000 and 2003.

Bain Capital, a leading global private investment firm with more than $14
billion in total assets under management has been investing in Europe since 1989
and has emerged as an active bidder in buy-outs from French corporates.  Bain
Capital is specialized in operations in which sizeable non-core assets are
acquired from leading companies and operated as independent entities.



                     This information is provided by RNS
            The company news service from the London Stock Exchange