Statement re Public Offering

Total S.A.
26 September 2003


                   Statement By Total On The Public Offer By SCH
                              To Purchase 16% of CEPSA


Paris, September 26, 2003 - Total has acknowledged the public offering to 
purchase 16% of the capital of CEPSA, submitted today by Banco Santander Central 
Hispano (SCH) to the CNMV (National Securities Market Commission) in Madrid.

Total would like to add that it is not linked in any way to this initiative by 
SCH, and that Total was not consulted prior to the submission of this offer.

Total considers that SCH has hastily interpreted the Spanish law 26/2003 of July 
17, 2003 and that SCH has acted in violation of the mutual agreements governing 
their relations in CEPSA since 1990.

Total has always been of the view that CEPSA must pursue its development in an 
efficient manner. Total is ready to take the necessary steps to protect its 
rights and the interests of its shareholders.

                                        *****


Total is the fourth largest oil and gas company in the world with operations in 
more than 120 countries. Total's activities cover the whole energy chain of the 
petroleum industry: exploration, oil and gas production, refining and marketing, 
trading and power generation. The Group is also a major player in chemicals 
through its chemicals branch, Atofina. Total has 121,000 employees worldwide. 
More information can be found on the company's website: www.total.com


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