Bourbon

Presentation by Jacques de Chateauvieux on the subject of “Crisis... What crisis? BOURBON’s situation”

Paris, December 11, 2008

Jacques de Chateauvieux, Chairman of the Board and Chief Executive Officer of BOURBON, is giving a lecture in Paris this morning on the subject of “Crisis... What crisis? BOURBON’s situation” at a breakfast conference organized by AFTE (Association Française des Trésoriers d’Entreprises), the French association of corporate treasurers and financial managers.

In the presentation, Jacques de Chateauvieux discusses the effects of the current global crisis, its consequences on the oil and marine sectors, and the resulting challenges and prospects for BOURBON:

"There is no doubt about the demand for oil in the medium term. The international majors and national oil companies continue to invest. [...]"

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New AFEP-MEDEF recommendations on the remuneration of executive officers

At its meeting on December 8, 2008, the Board of Directors of BOURBON examined the AFEP-MEDEF recommendations dated October 6, 2008 concerning the remuneration of executive officers of listed companies.

The Board considers that these recommendations are in line with its corporate governance, noting that most of them had already been put in place.

Consequently, in accordance with the Act of July 3, 2008 implementing the European Union directive 2006/46/EC of June 14, 2006, the AFEP-MEDEF corporate governance code as amended by these recommendations will be the reference in preparing the report provided for in Article L.225-37 of the French commercial code.