Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934

For the month of December 5, 2002

If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- ________

AMSTERDAM (December 5, 2002) - Equant (New York Stock Exchange: ENT, Euronext Paris: EQU) confirmed that its financial position and operations are unaffected by the goodwill writedown which France Telecom announced today.

France Telecom has announced that it intends to make a writedown of the goodwill arising from its acquiring 54.3 percent of Equant's equity in June 2001 of between Euro 3.5 billion and Euro 4.5 billion. The writedown is a non-cash item in France Telecom's books and has no impact on either Equant's financial position or its operations.

Under Equant's primary basis of reporting, French GAAP, there is no goodwill in Equant's books arising from the Global One acquisition, as the $500 million goodwill that arose was fully written off against shareholders' funds in fiscal year 2001.

For US reporting purposes, Equant wrote down, in fiscal 2001, approximately 75 percent of the goodwill that arose at the time of the Global One transaction under the reverse acquisition accounting requirements of US GAAP. The remaining 25 percent will be written down in full, in fiscal year 2002, as required by FAS 142.

These writedowns have been made as a result of the absence of a significant and sustained upturn in the economic and competitive environment in the second half of 2002, which has adversely impacted our earlier anticipated growth rates and mid-term forecasts.

Equant still anticipates that 2002 revenues should be approximately $2,950 million with EBITDA of $180 million. Management's efforts to reduce costs and closely manage capital expenditures should result in the Company reaching free cash flow positive during 2003, a year earlier than previously anticipated. At November 30, 2002 the Company had net cash of $390 million, which should be more than sufficient to fund operations through to free cash flow positive.

Integration activities are proceeding as planned resulting in significant cost savings including a continuing reduction in positions. The reduction in positions is in line with the plans set at the time of the merger and should lead to employment of about 10,000 in December 2003, as previously announced.

This release may contain projections or other forward-looking statements related to Equant that involve risks and uncertainties. Readers are cautioned that these statements are only predictions and may differ materially from actual future results or events. Readers are referred to the documents filed by Equant with the SEC, specifically the most recent filing on Form 20-F, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements, including, among other things, risks relating to Equant's history of operating losses, the unpredictability of growth in Equant's markets, changing technology, uncertain and changing regulatory restrictions, Equant's international operations, dependence on suppliers, network security issues, competition, and volatility of Equant's stock price and risks relating to the combination with Global One. All forward-looking statements are based on information available to Equant on the date hereof, and Equant assumes no obligation to update such statements.