85 over the last twelve months as the whole sector

Since it is not possible to agree, Centaurus and Pardus decided to force. In a news release to the AMF published Friday night, two "hedge funds" announced their intention to introduce resolutions at the next General Assembly of Atos Origin. Present at the capital of 20,67, they do exclude more to take control of the French system integrators. The two funds indicate also received estoppel to their request for representation on the Supervisory Board. A decision without surprise. Centaurus and Pardus militate for a sale of the company to a large group, while the Supervisory Board is opposed. If a redemption of the whole appears unlikely, some actors such as Capgemini, BT and HP might be interested in a part of society. To avoid a dismantling, Atos Origin leaders have little room for manoeuvre. The capital of the company is very fragmented and low valorization ( 28.85 over the last twelve months as the whole sector). To stay in place, the management must absolutely engage the rest of the shareholders and convince them of the relevance of its transformation plan. Launched in February 2007, it aims to double the operating margin in three years. For the first time since its inception, Atos Origin will also distribute a dividend in respect of the 2007 fiscal year. But this will be sufficient to counter Pardus and Centaurus

With more than 20 of the capital, Centaurus and Pardus became the shareholder of reference of Atos Origin. What analysis do you the position of the company today

Atos Origin is a very nice company, with talented engineers and a portfolio of quality customer, but it is in a strategic stalemate. This company is too small to be a general practitioner of it services but not enough specialized to best leverage its expertise in niche markets. This is why we believe that the strategy must be revamped. Computer services sector is growing rapidly and we believe that, in this context, it would be in the interest of society to lean to a large group of the sector. Pardus share our point of view, and this is what has led us to act together. Transformation of Atos Origin plan launched in February 2007 does not meet this problem of positioning.

Atos Origin provides for a share of market of slightly more than 4 in Europe, against 10 for the number one IBM, and 5.3 for Capgemini. In an also fragmented market, Atos Origin lack really critical size

Atos Origin has a strong France and the Netherlands, but insufficient presence in other countries. The company has not a sufficient critical mass to meet a large number of international tenders. The software is also delay in its implementation in India and consulting activities encounter difficulties. However it is often the consulting to win new customers.

What is the status of your relationships with the leaders of Atos Origin

We had very good relations with the former President of the Executive Board, Bernard Bourigeaud, and we regret his departure. We explained our point of view to the current leaders of Atos Origin in recent months but the Supervisory Board did not even accepted receive us. With more than 20 of the capital, we are yet the reference shareholders. We asked to be represented by two members at the Supervisory Board, but we recently received a negative response on the part of society.

What do you do in the future to hear your point of view

First of all, we are not holding to convince management of the society of the relevance of our point of view, even if it is more difficult than expected. Beyond that, we intend to present at the next General Assembly of resolutions that will enable the company to break the deadlock. Approximately 40 of the capital is expressed at the last General Assembly and certain resolutions have not been approved if we had not voted in the direction recommended by the management. Outside of us, for the moment, no shareholder has more than 5. We also plan to strengthen us in the capital of Atos Origin on the basis of market opportunities.