COMPANY RESULTS

France: Veolia Environnement (VE) reported a 6.2% decline in first half 2003 sales to €14.04 billion, mainly due to the negative effect of exchange rates.

. The weakness of the dollar against the euro wiped €450 million off sales and other currency factors accounted for €255 million, the company said. VE achieved overall growth of 5.4% to €13.9 billion but water services subsidiary Veolia Water posted a 3.7% downturn to €5.3 billion, largely because of a 15% drop in business
for Veolia ...

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