Rslts of Combined General Mtg
Total Fina S.A.
Elf Aquitaine
22 March 2000
COMBINED GENERAL MEETING OF MARCH 22, 2000
At the Combined General Meeting, held on March 22 under the chairmanship of
Thierry Desmarest, Totalfina shareholders approved all resolutions proposed by
the Board of Directors.
The principle resolutions approved were:
* A change in the company's name from 'TOTAL FINA S.A.' to 'TOTAL FINA ELF
S.A.', a new definition of its purpose, and the transfer of its headquarters
to 2 place de la Coupole, La Defense 6, 92400 Courbevoie, France.
* A change in the bylaws to reflect the expiration of the agreements between
the company and the French State.
* The election of ten new Board members from the Board of Directors of Elf
Aquitaine for a three-year term expiring at the Annual Shareholders' Meeting
to be held to approve the 2002 accounts. The new members are Yves Barsalou,
Pierre Bilger, Bertrand Collomb, Xavier Dupont, Jacques Friedmann, Frederic
Isoard, Michel Pebereau, Jurgen Sarrazin, Robert Studer and Pierre Vaillaud.
* The approval of financial authorizations to the Board of Directors, adjusted
to the Group's new business base.
In his address to the Meeting, Thierry Desmarest made the following remarks:
'This Shareholders' Meeting is exceptional for several reasons. For the first
time, shareholders of the new Group, created from the merger of Total, Petrofina
and Elf, have met to vote together. Then, too, it marks a change in your
company's name, from Totalfina to TotalFinaElf, and an increase in the size of
the Board of Directors. Lastly, today's meeting is taking place just a few days
after the expiration of the Agreements governing relations between Total and the
French State. This closes a chapter in Total's history, at the same time as
TotalFinaElf's begins.'
'The past year saw extraordinary changes in our Group, with mergers, first with
Petrofina and then, with Elf. Unfortunately, 1999 ended with the Erika
accident, which has been a trying time for all of us. We deeply regret the
consequences of the accident for everyone living along France's Atlantic coast.'
'The year also saw fast, far-reaching changes in the composition of our Group.
The merger of Total and Petrofina is now completed and, I might add,
successfully completed. An important hurdle was cleared on February 9, when the
European Commission approved our merger with Elf Aquitaine, of which Totalfina
owns 95%. Before the end of this year, we will have implemented the Group's new
organizational structures and formed teams combining the skills of both groups.
Clearly, we are off to a strong start as the world's fourth-largest oil
company.'
Contact: Isabelle Galldraud - Eve Gautier-Roux-Jean-Mary Castillon-Hans Daems
Tel: 33 (1) 41 35 34 75 Fax: 33 (1) 41 35 64 62
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