Acquisition on Interests

Total Fina Elf.
31 May 2000



             TOTAL FINA ELF ANNOUNCES AGREEMENT TO ACQUIRE INTERESTS
                IN LATIN AMERICAN NATURAL GAS TRANSMISSION ASSETS

May 31, 2000  -  TotalFinaElf (NYSE:TOT) announced today the signature of an
agreement to acquire interests in several natural gas transmission assets in
Argentina, Chile  and  Brazil from the Canadian company, Transcanada Pipelines
Limited (TSE:TRP) (NYSE:TRP), for approximately US$440 million. These networks
constitute an interconnected system supplying the markets of the three countries
from the Argentine gas-producing Neuquen and Northwest Basins.

The closing of the transaction is expected during the fourth quarter of this
year and is subject to approval by government authorities,  regulators and
partners.

According to the terms of the agreement, TotalFinaElf will acquire the following
interests:

*  27.2% of Gasinvest, the owner of a 70% interest in Transportadora de Gas     
  del Norte,  (TGN)  one  of  Argentina's two major natural gas transmission    
 systems.  Covering the northern half of the country, it is 5,500 kilometers    
long and has a daily transportation capacity of close to 50 million cubic      
meters.

*  46.5% of Gasoducto GasAndes (Argentina) S.A. and Gasoducto GasAndes S.A.     
  Both companies own the Gasandes pipeline which interconnects with TGN  and    
 supplies the Santiago de Chile region. TotalFinaElf already owns a 10%         
interest in this 465-kilometer pipeline. Its current daily capacity of 9       
million cubic meters is planned to be increased to up to 19 million cubic      
meters a day.

*  21.8% of Transportadora de Gas del Mercosur S.A. (TGM) which owns a
   437-kilometer pipeline linking the TGN network to the Brazilian  border.     
  The start-up date of the system, with a capacity that could reach 15          
 million cubic meters a day, is expected next month.

*  12% of Transportadora Sul Brasileira de Gas S.A. (TSB) which will link the
   Argentine-Brazilian border from TGM down to the city of Porto Alegre in      
  Brazil, covering a distance of 615 kilometers, with a planned capacity to     
 Porto Alegre of 12 million cubic meters a day. TotalFinaElf already holds a    
15% interest in this pipeline. A first section of 50 kilometers will begin     
service next month.

These gas transmission systems are located in the fast-growing markets of the
Southern Cone and will experience strong development, especially in supplying
future gas-fired power plants.

This agreement furthers the Group's strategy to develop its activities in the
downstream gas business in a region where it is already a major gas producer. It
also confirms a strong participation in the development of the Southern Cone gas
resources and markets.


Median Contacts
Elisabeth de Beaumont       33.1 47 44 63 79
Catherine Enck              33.1 47 44 37 76
Eve Gautier-Roux            33.1 47 44 47 66
Thomas Saunders             33.1 47 44 42 30