Devianne

Somfy SA has owned 47.5% of the capital of Devianne since the de-merger with Damart Group. On March 31st, Somfy SA acquired the entire holding of the Devianne family and now owns 95% of the company. The remaining stake is held by the management. Somfy has taken this course of action in order to concentrate the shareholding structure of the company so as to facilitate any future negotiations.

Somfy’s objective, with Joël Toulemonde, Chairman of the Management Board since 1999, is to set up an LBO together with financial partners. Somfy has appointed the Societex agency to help identify partners. Confident in the strength of Devianne’s business model and in the outlook for the company, Somfy is prepared to support the process as a minor shareholder in any future round table.

Devianne operates 36 clothing stores with an average floor space of 900 m² selling quality brands to men and women. It is a multi-regional chain mainly located in the North, East and West of France.

Devianne Group has a solid financial base with sales of €60.8 million in 2004, representing a growth of 9.5%, and EBITDA at 11% of turnover.

Participation in Devianne has until now been consolidated under the equity method. Its contribution to Somfy’s net income in 2004 was €0.9 million. Participation will henceforth be accounted and evaluated under IFRS standard 5 as an asset due to be sold, and will no longer contribute to Group’s results under the equity method.

Contacts :

Somfy : Nicolas Duchemin  – Tel : (+33) 450 404 849

Shan :  François-Xavier Dupont  – Tel: (+33) 144 505 874

Societex agency : Christian Tachon   – Tel: (+33) 472 591 040

http://www.somfyfinance.com