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Press Release

Memorandum of agreement for sale of diving vessel Marianos

March 04, 2005

Technip announces the signing of a Memorandum of Agreement between its subsidiary, Technip Offshore UK Limited, and Mermaid Offshore Services Limited, for the sale of the diving support vessel Marianos. Vessel handover by Technip to Mermaid is scheduled for August 2005, which will allow Technip Offshore UK to complete its ongoing commitments to the North Sea and Canada area. Once sold, the Marianos will operate in South-East Asia, particularly in the Gulf of Thailand.

The disposal of the vessel Marianos is in line with Technip's strategy to adapt its assets to its business needs.

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