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Pipelifes Syndicated Loan Facility

On April 14th, 2008, the Pipelife Annual Meeting with the banks participating in the Group’s syndicated loan facility took place in Vienna.

The CFO of Pipelife, Marc Vandermensbrugghe gave a detailed overview of the Audited Consolidated Financial Statements for the year ending December 31, 2007 as well as the status of the growth projects and the cumulated management accounts of the first quarter 2008. The meeting was attended by representatives of almost all banks participating in the syndication, demonstrating once more the interest of the financial market for the Pipelife activities.

The Annual Report 2007 (for internal use) was distributed at the occasion. The current credit facilities were amended on September 21st, 2007 including a 5 year multi currency facility amounting to Eur 189 million.