ETL Eutelsat Communications S.a.

RNS Number:5176P
Eurotunnel PLC/Eurotunnel S.A.
15 January 2007

15 January 2007



           Paris Commercial Court Approves Eurotunnel Safeguard Plan



In its judgements dated 15 January 2007, the Paris Commercial court has approved
the safeguard plan put forward by Eurotunnel with the support of the
court-appointed representatives to the company and to the creditors.



Eurotunnel welcomes with great satisfaction this immediately enforceable
decision, which lifts the shackles of its debt, preserves the integrity of the
concession and allows it to look to the future with confidence. This decision is
good for the company, its 2300 employees and its shareholders.



The financing of the plan has already been agreed, under excellent terms, with
the banking consortium composed of Goldman Sachs/ Deutsche Bank/ Citigroup.



With the support of the court appointed supervisors (Commissaires a
l'Execution), Me Laurent le Guerneve and Me Valerie Leloup Thomas, Eurotunnel
will now implement the plan during the course of the first half of 2007.



In real terms this means:



-                      The listing in Paris and London of the shares in a new
parent company, Groupe Eurotunnel SA, the fulcrum of the restructuring;

-                      The issue of hybrid Notes Redeemable in Shares ("NRS") by
an English law mirror company, Groupe Eurotunnel UK;

-                      The launch of an Exchange Tender Offer (ETO) by Groupe
Eurotunnel SA for the shares in Eurotunnel Plc and Eurotunnel SA. The ETO will
be the subject of a prospectus which must be approved by the market authorities.



At the same time, Eurotunnel will request that its auditors certify its 2005 and
2006 accounts, established on a going concern basis, with a view to publishing
such accounts before the ETO is launched and to allow the lifting of the current
suspension. To this end, the Paris Commercial Court has authorised Eurotunnel to
extend the deadline for sending out notices of its general meetings until 31
March 2007.



Ndegrees 003/2006



For media enquiries contact the Press Office + 44 (0) 1303 284491.

Email: Press@eurotunnel.com



For investor enquiries contact Michael Schuller on + 44 (0) 1303 288 749.

Email: michael.schuller@eurotunnel.com



                               www.eurotunnel.com



Eurotunnel manages the infrastructure of the Channel Tunnel and operates
accompanied truck shuttle and passenger shuttle (car and coach) services between
Folkestone, UK and Calais, France.  Eurotunnel also earns toll revenue from
train operators (Eurostar for rail passengers, and EWS and SNCF for rail
freight) which use the Tunnel. Eurotunnel is quoted in London, Paris and
Brussels.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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