1. Ernst & Young Attractiveness Study

2. The Euro-Mediterranean area already ranks third in terms of GDP 15 200 3 669 3 713 1 249 5 852 21 242 6 856 North America #2 Latin America and Caribbean #6 European Union* #1 South East Asia & Japan #4 China #5 India #8 GDP (US$ billion 2007) Source: IMF 2008 – Current Price Euro- Mediterranean Area* #3 1

3. …and third in terms of foreign direct investment inflows Source: UNCTAD 2008 including M&A 244 84 69,5 16,9 44 537 217 Latin America and Caribbean #4 South East Asia & Japan #7 China #5 Inward FDI (US$ billion 2006) North America #2 India #8 Euro- Mediterranean Area* #3 European Union* #1 *Northern Rim countries (Spain, Portugal, Italy, France, Malta and Cyprus) are part of both the European Union and the Euro-Mediterranean area 2

4. International investors have identified projects in the Euro-Mediterranean area… but also alternative, attractive destinations in Asia and Europe Total Yes: 33% Location intentions in the Euro-Mediterranean area Yes probably Can't say Yes definitely Definitely not Probably not 31% 24% 12% 21% 12% ► Versus 43% of location intentions in Asia and Southeast Europe Source: Ernst & Young Euromed Attractiveness Survey 2008 - 315 international executives 3

5. Turkey and other Mediterranean challengers are seen as promising destinations for value-added activities 21% 15% 12% 6% 4% 3% 2% 1% TurkeyIsraelMoroccoTunisiaEgyptJordanLibyaAlgeriaLebanonSyria The 3 most promising countries in terms of value-added activities and R&D (first quotation) Source: Ernst & Young Euromed Attractiveness Survey 2008 - 315 international executives 4

6. Ernst & Young Business Case

7. Key Drivers GLOBALIZATION DIVERSITY MARKET LEADERSHIP STRENGTHENING OUR BRAND IMPROVING QUALITY AND CONSISTENCY 6

8. Process 2000 CREATION OF GEOGRAPHICAL AREAS 2008 CREATION OF 4 AREAS 7

9. 4 Areas AMERICAS EMEIA FAR EAST JAPAN 8

10. Barriers LANGUAGE COUNTRY LEGAL FRAMEWORKS LABOR RESTRICTIONS FINANCIAL RESTRICTIONS 9

11. Benefits BETTER BALANCE OF CULTURES CULTURE OF MOBILITY INCREASED QUALITY IMPROVEMENT OF SYNERGIES BETTER MANAGEMENT 10