credit facilities

Compagnie de Saint-Gobain
18 November 2004


press release


Compagnie de Saint-Gobain refinances two existing credit facilities with a
5-year €2.0 billion syndicated loan facility


Compagnie de Saint-Gobain announces that the syndication of its €1.8 billion
5-year syndicated loan facility launched on October 12 has closed successfully.
The transaction was well oversubscribed with €3.5 billion in bank commitments,
allowing Saint-Gobain to increase the size of the facility to €2.0 billion. The
facility was signed on November 17, 2004.


The new facility will replace the €600 million syndicated facility maturing in
September 2006 and the €1.2 billion syndicated facility maturing in November
2007, and will be available for general corporate purposes including Commercial
Paper backstop. The facility is expected to remain undrawn.


The syndication has been supported by a strong group of 25 international banks,
underlying Saint-Gobain's appeal in the credit markets.


ABN AMRO Bank N.V., BNP Paribas, Calyon, CCF, J.P. Morgan PLC and Societe
Generale Corporate and Investment Banking ('SGCIB') were appointed as Mandated
Lead Arrangers ; BNP Paribas, J.P. Morgan PLC and SGCIB acted as
Joint-Bookrunners for the syndication ; Calyon acted as documentation agent and
is Facility Agent for the new facility.


The following banks participated as arrangers : Bank of America NA, Paris
Branch, Bank of Tokyo-Mitsubishi, Citibank, Credit Suisse First Boston
International, Mizuho Corporate Bank, Ltd., The Royal Bank of Scotland PLC,
Credit Mutuel - CIC, Fortis Banque France, ING, Mediobanca, Santander Central
Hispano S.A., Paris Branch; and as co-arrangers : Banca Intesa, Banco Bilbao
Vizcaya Argentaria, IXIS Corporate & Investment Bank, Commerzbank, Dresdner Bank
AG Niederlassung Luxemburg, PNC Bank National Association, Skandinaviska
Enskilda Banken AB (publ), UBS Limited.


November 18, 2004


                         Investor Relations Department


Tel. : Florence TRIOU-TEIXEIRA      [phone]

Tel. : Alexandre ETUY               [phone]


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