Euronext Announces, Based On 2000 Consolidated Pro Forma Figures, 51% Rise In EBITDA To EUR 256 million, And 46% Rise In Net Profit To EUR 127 Million

The Supervisory Board of Euronext NV, meeting in Amsterdam on 13 March 2001, has adopted the 2000 annual accounts. This press release is based on the consolidated pro forma accounts under IAS GAAP as if the Company had been established on 1st January 1999.

Figures confirm that 2000 was an exceptional year for all Euronext markets.

The number of equity trades represented volumes of 128 million trades in 2000, totalling EUR 1,706.7 billion, a rise of roughly 60% from 1999. 108 new companies were listed on Euronext regulated markets.

With 327 million futures and options contracts traded during the year, the volumes on derivatives markets rose 33% from 1999.

Against this background of vigorous growth, Euronext kept the rise in operating expenses during 2000 (excluding provisions) to only 13% up to a total of EUR 426 million. This allowed EBITDA to reach EUR 256 million, 51% higher than in 1999, and Profit from operations before exceptional items and amortization of goodwill to reach EUR 250 million, 58 % higher than in 1999, taking into account interest income of EUR 32 million.

In 2000, exceptional items represented an on balance charge of EUR 33 million, due primarily to large provisions set aside for the 2001 plan to integrate Euronext platforms in one single system, and amortization of goodwill. Net Profit before amortization of goodwill totalled EUR 146 million. Yet even with these charges, Net Profit totalled EUR 127 million, a rise of 46% over 1999.

The Managing Board proposes to the annual meeting of shareholders to be held on 19 April 2001 a distribution of a per-share dividend amounting to EUR 0.73.

In 2001, Euronext will continue to implement its plans to integrate its cash and derivative trading and clearing platforms as well as its netting, settlement and custody systems in order to further increase cost efficiency.

The Company has a strong financial position demonstrated by the absence of debt and a strong equity base close to EUR 900 million (including EUR 300 million of goodwill). In 2000, profitability was high. Building on these strengths, Euronext is currently considering its own initial public offering and stock market listing in the coming months, market conditions permitting.

Key dates

• Annual meeting of shareholders : 19 April 2001
• Payment of dividend : 25 April 2001

Euronext is the first pan-European exchange created by the merger in September 2000 of the Amsterdam, Brussels and Paris exchanges. As of December 2000 over 1600 companies were listed on Euronext regulated markets representing a market capitalization of EUR 2.420 billion and trading volumes on the central electronic order book of EUR 142 billion (monthly average 2000) making Euronext the largest exchange in Europe.

This announcement does not constitute an offer of securities for sale in the United States. Securities may not be offered for sale in the United States absent registration under the US Securities Act of 1933 or an exemption from registration. Any offering of securities made in the United States will be made by means of an offering circular that may be obtained from Euronext and will contain detailed information about Euronext and its management, as well as financial statements.