RNS Number:0331J
Orange S.A.
21 March 2003



                    ORANGE SA SELLS ITS 26.6% STAKE IN WIND
                         TO ENEL FOR 1.3 BILLION EUROS



        Net cash proceeds of the sale : approximately 1.5 billion euros



London, Paris, 21 March, 2003 - Orange SA announced today that it has reached an
agreement with Enel to sell its 26.6 % shareholding in Wind, on the following
terms and conditions:



-     Sale of Orange's 26.6 % shareholding in Wind for a consideration in cash
at closing of 1.3 billion euros, plus approximately 0.2 billion euros
shareholders' loan to be repaid to Orange.



-     This consideration will be subject to a post closing upward adjustment,
should Enel dispose of all or part of the share capital of Wind for a higher
consideration than this transaction prior to 31 December 2004.



-     Enel will procure at closing the repayment by Wind to Orange of its
outstanding shareholders' loan and of any other shareholder contribution made by
Orange between the date of the agreement of sale and the closing date.  Enel
will also procure the release of financial obligations granted by FranceTelecom
and Orange relative to the shareholding in Wind.



-     All Joint Venture Agreements between Enel, the France Telecom group and
Wind dating from 2000 and thereafter will be terminated.  Ongoing commercial
relations between the France Telecom group and Wind will be maintained.



This transaction is conditional on the approval of the appropriate regulatory
and anti-trust authorities.



ENDS



Press contacts :



Orange
Niamh Byrne, Head of Media Relations                 + 44 (0) 207 984 2000
Orange media centre                                  + 44 207 984 2000
David Smyth, Group head of investor relations        + 44 207 984 1691


Anthony Carlisle, Citigate Dewe Rogerson             + 44 207 638 9571


France Telecom
Nilou Du Castel, Head of the press office            +33 (0)1 44 44 93 93






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