Acquisition

Total Fina Elf.
27 November 2001

   
   
Paris, November 27, 2001 

             TotalFinaElf acquires Refining Interests and Strengthens 
                         Marketing Network in Zambia

TotalFinaElf has acquired the refining and marketing assets of Agip Zambia, an 
Agip (ENI group) subsidiary, as part of the process of consolidating its 
position in Africa. The transaction is subject to the approval of the Zambian 
Authorities.

Through this transaction, TotalFinaElf has acquired a 50% interest in the Indeni
refinery in Ndola, in the north-central region of the country. The government 
will retain for the time being the remaining 50%. TotalFinaElf will provide 
technical support for the 20,000-barrel-per-day refinery.

The marketing assets covered by the agreement consist of 20 service stations, a 
motor fuel depot with a capacity of 2,240 cubic meters in Lusaka and a 10.5% 
interest in the Lublend lubricant plant in Ndola, in which the Group already 
owns a 10.5% interest.

The acquisition marks TotalFinaElf's first foray into the Zambian refining 
industry and consolidates the Group's marketing position. The Total-branded 
network will be expanded to 50 retail outlets, for a market share of 
approximately 15%, with an important potential growth of the sales.

TotalFinaElf operates in 40 African countries, in which it markets around ten 
million metric tons per year of petroleum products. Following the latest 
agreement, the Group now has interests in seven African refineries with an 
aggregate capacity of 290,000 barrels per day.