Paris, December 6, 2007—On December 3, 2007, the French State sold 45 million shares representing 2.5 % of the capital of Electricité de France (EDF) in a sale reserved to institutional investors, implemented through an accelerated bookbuilding placement.

This transaction raised approximately €3.7 billion and, as announced by President Sarkozy, was intended to finance an investment program in the country’s universities.

The EDF Group is a leading player in the European energy industry, present in all areas of the electricity value chain, from generation to trading, and increasingly active in gas distribution in Europe. Leader in the French electricity market, the Group also has solid positions in the United Kingdom, Germany and Italy.

Shearman & Sterling represented the French State and was the sole advisor in the transaction.

Attorneys included partners Hervé Letréguilly (PA-CM/MA), Bertrand Sénéchal (PA-CM), Sami Toutounji (PA-CM) and Robert Treuhold (PA-CM/MA), European counsel Christophe Clerc (PA-MA) and associate Laurent Beauvoit (PA-CM).