AREVA was created on September 3, 2001 from the former CEA-Industrie, whose capital was 95% owned by CEA.

Today, the public sector’s participating interest in AREVA is 87%, distributed among the CEA, the French State and ERAP. The 4% float is held by Investment certificate holders.

Shareholders

Change in shareholding

The change in shareholding resulted from the establishment of AREVA on September 3, 2001. At that date, several shareholders, including Total and EDF, contributed their minority interests, mainly in COGEMA (now AREVA NC) and Framatome SA (now AREVA NP), in exchange for shares of the new AREVA group. As a result of these transactions, the participating interest of the original shareholder, CEA, decreased from 95.1% to 78.96%. Alcatel, which held 2.23% of the new AREVA group’s share capital after the merger of September 3, 2001, sold its participating interest to Caisse des Dépôts et Consignations (CDC) on December 21, 2001. CDC, which initially held 1.36% of the share capital, increased its participating interest to 3.59% as a result of this transaction.

Shareholders	2008		From 2001 to 2007		2000
	% of capital	% of voting rights	% of capital	% of voting rights	% of capital	% of voting rights
CEA	78.96	82.99	78.96	82.99	95.14	100.00
French State	5.19	5.19	5.19	5.19
Caisse des Dépôts  et Consignations	3.59	3.59	3.59	3.59
ERAP	3.21	3.21	3.21	3.21
EDF	2.42	2.42	2.42	2.42
Framépargne (employees)	0.69*	0.69*	0.69*	0.69*
CALYON	0.89*	0.89*	0.89*	0.89*
Total	1.02	1.02	1.02	1.02
IC holders	4.03	0.00	4.03	0.00	4.86	0.00
TOTAL	100.00	100.00	100.00	100.00	100.00	100.00

* Calyon, a bank formerly known as Crédit Agricole Indosuez, has guaranteed the liquidity of the AREVA shares held by the Framépargne employee savings fund (FCPE Framépargne). Under this agreement, Calyon has agreed to acquire all AREVA shares sold by FCPE Framépargne to satisfy requests for share redemption if the cash held by the fund is insufficient to satisfy such requests. This guarantee, drawn upon since July 2002, has resulted in the acquisition of a number of AREVA shares by Crédit Agricole Indosuez.