Final Results

Total Fina S.A.
26 January 2000



               TOTALFINA Reports 1999 Preliminary Results

          Net income excluding non-recurring items : 1.73 Billion euros

                            (+ 12% compared to 1998)

TOTALFINA's Board of Directors, chaired by CEO Thierry Desmarest, met on January
25, 2000, to review the Group's estimated 1999 results.

The  1999 environment was marked by a strong increase in crude oil prices and  a
sharp  decline  in refining and petrochemical margins. The average Brent  price
rose by 42% to $18.0/b in 1999 from $12.7/b in 1998. European refining  margins
fell by 43% to $9.7/ton in 1999 from $16.9/ton in 1998. The dollar exchange rate
increased by 4% relative to the euro, averaging $1.07/euro in 1999.

Sales  increased to 42.0 billion euros in 1999, a 20% increase compared to  1998
(proforma).  Operating  income from the business segments  before  non-recurring
items  increased  to  3.10(1) billion euros, an 18% increase  compared to 1998
(proforma).  Reported 1999 net income (Group share) rose to 1.51 billion  euros,
an  increase of 14% compared to 1998 (proforma). Excluding non-recurring  items,
1999  net income was 1.73(2) billion euros, an increase of 12% as compared to
1998 (proforma).

Excluding non-recurring items, estimated 1999 earnings per share based on  351.5
million fully-diluted weighted average shares outstanding (excluding the  shares
issued  in  the exchange offer for Elf Aquitaine) rose to 4.92(2)  euros, a 12%
increase compared to 1998 (proforma).

In billions of euros

Results                        1999            1998          Change
                             Entimate       proforma          99/98

Sales                          42.0           35.0             +20%
Operating income*              3.10           2.62             +18%
Net income (Group share)*      1.73           1.54             +12%
Earnings per share (euros)*    4.92           4.38             +12%
Earnings per ADR ($/ADR)(3)*    2.6            2.4              +8%

* excluding non-recurring items

(1) Impact of non-recurring items on 1999(e) operating income: FAS121 (- 0.22
    billion euros)
(2) Impact of non-recurring items on 1999(e) net income : FAS 121 (- 0.15       
   billion euros), restructuring charges related to the Petrofina merger (-     
  0.15 billion euros), early retirement plans related to the Petrofina merger   
 (- 0.03 billion euros) and  gains on asset sales (+ 0.11 billion euros)
(3) Using average exchange rate for the period


Different trends for the business segments

Operating  income excluding non-recurring items was 3.10 billion euros in 1999
compared to 2.62 billion euros in 1998 (proforma). Environmental factors, such
as oil prices, refining and petrochemical margins and exchange rates, had a net
positive  impact  of  300  million  euros;  however, other external elements,
particularly the lag effect on natural gas and refined product prices, had a
combined negative impact of about 230 million euros. Growth and productivity, as
well as synergies stemming from the merger With Petrofina, had a positive impact
of 410 million euros.

In billions of euros

Operating Income*           1999            1998           Change
                          estimate        proforma          99/98

Upstream                     1.95           1.14            +71%
Downstream                   0.56           0.77            -27%
Chemicals                    0.59           0.71            -17%

Total                        3.10           2.62            +18%

*excluding non-recurring items

Continued Upstream growth

Upstream production rose by 4% to 1,108 mboe/d in 1999 from 1,063 mboe/d in 1998
(proforma) despite asset sales that had a negative impact of 30 mboe/d on  1999
production. Excluding the impact of divestments, 1999 production increased by 7%
compared to 1998 (proforma). Middle East production increased by 2% to  324
mboe/d in 1999 from 317 mboe/d in 1998 despite a reduction  in  OPEC  quotas.
Production outside the Middle East rose by 5% to 784 mboe/d in 1999  from  746
mboe/d in 1998 (proforma). Production growth came primarily from :
- production start-ups in Algeria (TFT), Iran (Sirri E), North Sea (primarily
  Aasgard), and Russia (Kharyaga) and
- continued growth in Africa, Southeast Asia, and South America.

Proved  reserves  continued to grow, increasing by  5%  to  an  estimated  6,256
million  boe in 1999 versus 5,976 million boe in 1998 (proforma). The  reserves
are comprised of 60% liquids and 40% gas. The estimated reserve replacement rate
for 1999 is 227% for consolidated subsidiaries.

Production start-ups in Asia (the Peciko field in Indonesia) and in Africa  (the
Kuito field in Angola) at the end of 1999 will contribute to Upstream growth in
2000.

Downstream operating income

Refined product volumes increased to 2,227 mb/d in 1999 from 2,200 mb/d in  1998
(proforma). Refinery throughput was 1,553 mb/d in 1999 compared to 1,584 mb/d in
1998 (proforma). Operating income for the Downstream fell primarily due to  the
sharp  decrease  in  refining margins, which was only partially offset  by  the
decrease in the breakeven point for refining, cost cutting and synergies related
to the merger with PetroFina.

Growth for Chemicals

Chemical sales rose by 13% to an estimated 8.64 billion euros in 1999 from  7.62
billion  euros  in  1998 (proforma). Operating income decreased by 17% to  an
estimated  590  million euros in 1999 from 705 million euros in 1998  (proforma)
primarily due to lower petrochemical margins, which were at  a low  level at
mid-year.  Internal and external growth combined with improved performance from
the Specialty Chemicals limited the impact of lower petrochemical margins.

Maintaining a high level of investments

In  1999,  estimated gross investment for the segments was maintained at  strong
level of 4.4 billion euros compared to 4.5 billion euros in 1998 (proforma). The
estimated 1999 investments are split 59% Upstream, 17%  Downstream and 24%
Chemicals.
Estimated cash flow rose to 4.4 billion euros in 1999 from 4.0 billion euros  in
1998 (proforma).
Divestments at selling price were 1.2 billion euros in 1999.
The estimated net debt-to-equity ratio at year-end 1999 was approximately 46%.

Excluding non-recurring items, the estimated return on equity rose to 12.6% in
1999 compared to 12.0% in 1998 (proforma).