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McArthur River uranium mine at a standstill

Press release

April 16, 2003

As published in a previous press release dated April 8, 2003, production was brought to a standstill at the Canadian McArthur River mine due to a large flood.

Given the seriousness of the flood and the major work required to make the mine safe again, the mine operator, CAMECO, currently thinks that production will not resume for four to six months. Under this scenario, the impact on the operating income of the AREVA Group is estimated at about 3 million euros per month of inactivity.
While the mine is at a standstill, customer orders will be met using COGEMA's existing uranium reserves and resources.

Facts:
- CAMECO has a 70% stake in the mine and COGEMA has a 30% stake.
- 7,100 tons of uranium were mined in 2002 and processed at the Key Lake plant.
- COGEMA's share of production in 2002 was 2,158 tons of uranium (29% of Group production).

Press Contacts:
Charles Hufnagel - Sophie Renaud - Patrick Germain
tel. + 33 (0) 1 44 83 71 17
fax. + 33 (0) 1 44 83 25 52

Investors Relations:
Vincent Benoit
tel. + 33 (0) 1 44 83 71 79
Frédéric Potelle
tel. + 33 (0) 1 44 83 72 49