SUEZ Announces its Intents to Request Voluntary Withdrawal of its ADRs From NYSE Listing



    PARIS, France, Aug. 29 /CNW/ - The Board of Directors of SUEZ announced
its intention to request voluntary withdrawal of its American Depositary
Receipts (ADRs) from the New York Stock Exchange (NYSE), followed by a request
for deregistration with the Securities and Exchange Commission (SEC).
    The withdrawal of SUEZ ADRs from trading is expected to become effective
in September 2007.
    Nevertheless, SUEZ intends to maintain a Level 1 ADR program to allow
those investors who wish to continue to hold their ADRs.

    
    The main reasons which led SUEZ to take this initiative are:

    1.  SUEZ is listed on Euronext Paris. The NYSE trading volume of SUEZ
        shares (ADRs) has remained very low, approximately 1,5% of the total
        volume of SUEZ shares traded over the past 12 months. For liquidity
        reasons, the great majority of investors prefer to trade SUEZ shares
        in its main trading market. Furthermore, elimination of extra costs
        related in particular to application of the Sarbanes Oxley Act will
        generate savings and create shareholder value.

    2.  The merger of NYSE and Euronext will facilitate direct investments by
        US investors in the French market. Finally, the two accounting
        standards (USGAAP and IFRS) have begun to converge.
    

    In any case, SUEZ had decided to ensure its compliance with the
requirements of the Sarbanes-Oxley Act prior to its decision to request
delisting. This compliance program is successfully completed. The Group
confirms its commitment to maintain strict internal controls, a high level of
financial information, and an open, direct dialogue with US investors. The
Group's financial information will continue to remain available in English on
the SUEZ website (http://www.suez.com) and will continue to meet the highest
standards of corporate governance, particularly with respect to the
independence and international makeup of its directors.
    Finally, SUEZ reaffirms its determination to continue to develop in North
America where it generated some EUR 4.2 billion in revenues in 2006 and has
3,700 employees. This commitment is illustrated, among others, by recent
investments and successes in the areas of LNG (Neptune, Massachusetts), wind
energy (Ventus, Canada), and water supply system management (Indianapolis,
Indiana).
    SUEZ, an international industrial and services Group, designs sustainable
and innovative solutions in the management of public utilities as a partner of
public authorities, businesses and individuals. The Group aims to answer
essential needs in electricity, natural gas, energy services, water and waste
management. SUEZ is listed on the Brussels, Luxembourg, Paris, New York and
Zurich stock exchanges and is represented in the main international indices:
CAC 40, BEL 20, DJ STOXX 50, DJ EURO STOXX 50, Euronext 100, FTSE Eurotop 100,
MSCI Europe and ASPI Eurozone The Group employs 140,000 people worldwide and
achieved revenues of EUR 44.3 billion in 2006, 89 % of which were generated in
Europe and in North America.

    Disclaimer

    This press release contains certain forward-looking statements,
particularly with respect to future events, trends, plans or objectives. These
statements are based on management's current views and assumptions and involve
a number of risks and uncertainties that may lead to a significant difference
between actual results and those suggested either explicitly or implicitly in
these statements. The present forward-looking statements are made as of the
date of the present release, with no undertaking by SUEZ to update or revise
them, whether in connection with new information, future events, or any other
factor.

    Important information

    This press release does not constitute an offer to purchase, sell or
exchange any securities of SUEZ, or a solicitation for the purchase, sale or
exchange of any securities of SUEZ. It does not constitute in particular an
offer to purchase, sell or exchange securities in any juridiction (including
the United States, Germany, Italy and Japan) where such an offer to purchase,
sell or exchange would be unlawful prior to the registration or qualification
under the laws of such juridiction. The distribution of this press release
may, in some countries, be restricted by law or regulation. Accordingly,
persons who come into possession of this document should inform themselves of
and observe these restrictions. To the fullest extent permitted by applicable
law and regulation, SUEZ disclaim any responsibility or liability for the
violation of such restrictions by any person.

    This release is also available on the Internet: http://www.suez.com





For further information:

For further information: Press contacts: Financial analyst contacts:
France: +33-1-4006-6651/68, +33-1-4006-6489, +33-1-4006-1753; Belgium:
+32-2-510-76-70

Organization Profile

SUEZ

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890