January 27, 2003

CANEC Inteational was recognized by Capital Finance in its latest issue dated January 27, 2003 as one out of three independent mid-market M&A advisory firms in the top 10 in France, ranking #7 in transaction values. Thanks to sizable transactions in 2002, such as, among others, AXA's Private Equity LBO of Bonna Sabla from Vivendi Environnement and Multibase SA acquisition by Dow coing, CANEC's ranking improved. In light of the recent events in the financial industry Capital Finance recognizes the favorable trend in M&A transactions for independent firms like CANEC.

Published by Capital Finance of Groupe Les Echos part of The Financial Times Group