Division of the par value by two: the Air Liquide share is now more affordable

June 12, 2007

From June 13, it will be easier to purchase Air Liquide shares.

The division of the par value of Air Liquide stock by two, approved at the Combined Shareholders’ Meeting on May 9, 2007, will take effect at the opening of the Paris stock exchange on June 13. The par value will halve (ie. to 5.50 euros) and the number of shares in circulation will double. The division of the par value of stock will be made at no cost to Air Liquide shareholders, nor will it require any further approvals from them.

The Air Liquide share price has increased by more than 85% over the past four years. This achievement is the result of the Group’s successes based on international development, innovation, and customer trust and support.

This stock split is one of the new initiatives the Group is taking to renew and enlarge its individual shareholding. By bringing the share value to a level comparable with other CAC 40 values, this split aims at improving share accessibility and thereby increasing the number of individual shareholders, attracting younger ones in particular. The split should also have a favourable effect on share liquidity.

Effective June 13, the share capital of the company will be comprised of 241,602,846 shares with a par value of 5.50 euros.