Carrefour and Hyparlo strengthen their partnership

Hyparlo is taking control of 100% of its Romanian subsidiary, previously held in a 50/50 joint
venture with Carrefour. At the same time, Carrefour is reinforcing its partnership with the Arlaud family by taking a 50% stake in the holding company which controls the group. Carrefour retains its 20% direct stake in Hyparlo.
The management of Hyparlo will not change with Gilles Pardi remaining Chairman of the
management board and Jean-Michel Arlaud Director General.
The deal will be finalised before the 31 March 2005. Through the transaction Hyparlo will be able to increase its potential for creating value over the medium term for the benefit of its shareholders.
After the successful opening of four Carrefour hypermarkets in Romania, of which three are in Bucharest and one in Brasov, Hyparlo is planning the opening of a number of new stores,
building on its leading brand image. The group’s objective in the short term is to double the
number of hypermarkets from four to eight between now and the end of 2006.