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Euronext To Benefit From Innovative Tax Agreement Designed For Integrated European Companies

Date 12/05/2004

Euronext NV has signed a groundbreaking agreement with the tax authorities of Belgium, France and the Netherlands. The agreement governs the way in which subsidiaries of integrated European companies can share taxable income.

Euronext is the first European company in the financial services sector – and the second overall – to benefit from these tax rules. The regime is ideally suited to the group's organisational structure and represents a further step on the road to full operational integration.

The agreement, which concerns Belgium, France and the Netherlands, confirms the policy pursued by Euronext from the outset, that is, since 2001. It is likely to be extended to Euronext Lisbon (Portugal) and Euronext.liffe London (UK) in future.

The tax measures are consistent with OECD guidelines, European competition rules, and the tax legislation of the countries concerned.