1. During the Extraordinary General Meeting, held the 27th June 2001, 4 questions were asked to the Board. The third one was related to the audit of the different branches of Global One BV and not only the 4 Dutch Holdings. Mr. John S. Allkins promised that this work had to be and should be done. Has this audit been done? If yes, is it available for the Shareholders?

3. Another objective of Mr. Caclin was to "enhance the profitability". During the 2002 exercise, the amount of losses, 589M$, has represented 20% of the Sales, 2973 M$. In 1999 and 2000, the ratio (losses/sales) was 66% at Global One BV. Does Mr. Caclin want to reach the same level of "performance" within Equant?

Despite the general economic conditions Equant remains competitive and continues to win new customers. The most recent survey by the Yankee Group scored Equant highest among nine global carriers as a result of our focused and consistent strategy in the enterprise market; our extensive European and Global network with its significant in country reach and our front line position in IP VPNs. In the first six months of this financial year our cost reduction plan worked well and has delivered significant benefits. As a result of reducing our direct costs, gross profit improved by $58 million, and we have reduced sales, general and administration expenses by $25 million. We will continue to reduce costs in our drive to achieve profitability against the background of a difficult economic environment.