December 6, 2002

(Dow Jones, Reuters Paris)– Axa Private Equity announced the LBO of Bonna Sabla the former unit of Vivendi Environnement. This leading French manufacturer of concrete products, namely water pipes and rapid transit railway ties, has sales in Europe and around the Mediterranean of approximately E 405 MM. The buy-out will be managed by Philippe Milliet, formely President of Ciments Francais North America and CEO of the Marmon Group affiliate, Wells Lamont.

CANEC originated and facilitated the transaction.