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Offering price set at €37.75 per share

- Offering Price: €37.75 per share, at the top end of the indicative price range
- Full exercise of the increase option
- Total amount of the offering: €1,078 million, representing a public float of approximately 27% of the company’s share capital, which may be increased to €1,240 million if the over-allotment option is fully exercised
- The initial offering was over 10 times oversubscribed in the Institutional International Offering

Paris, October 23, 2007 – Bureau Veritas, which ranks as the world's second largest group in conformity assessment and certification services in the fields of quality, health and safety, environment, and social responsibility, announces the definitive terms and conditions of its initial public offering on the Eurolist market of Euronext Paris™ (Compartment A, ISIN code FR 0006174348, trading symbol: BVI ).

The initial public offering met with great success with French and international institutional investors as well as with individual private investors. The high level of demand and the high institutional oversubscription rate of over 10 times the base offering allowed the IPO price to be set at the top of the indicative price range and the increase option to be fully exercised.  Retail investor demand was also particularly strong with over 140,000 orders. Thus, 10% of the total offering, after exercise of the increase option, was allocated to retail investors.

Trading of Bureau Veritas shares on the Eurolist market of Euronext Paris™ is expected to begin on October 24, 2007, at 10:00 a.m. (Paris time). Settlement and delivery of the shares is expected to take place on October 26.

Frank Piedelièvre, President & Chief Executive Officer of Bureau Veritas, commented on the results of the operation: 'I am particularly happy with the success of the Bureau Veritas IPO and with the strong interest shown by both institutional and retail investors.  The listing represents an important phase in the history of Bureau Veritas; it will allow us to increase our growth potential in a sector that is currently in a phase of worldwide consolidation, and allow us to reinforce our visibility to attract new clients and employees as we grow.'

General characteristics of the offering:

Offering Price
- The price of the French Public Offering and the Global Offering has been set at €37.75 per share
- The price of the Employee Offering has been set at €30.20 per share

This price will give rise to a market capitalization of €4,040 million, based on 107,021,960 shares (after the completion of the restructuring transactions and the Reserved Offerings, and excluding stock options and treasury shares).

Breakdown of the offering

- 25,700,675 shares have been allocated to the Global Offering (i.e., €970 million or 90% of the shares offered, including the increase option) 
- 2,855,630 shares have been allocated to the French Public Offering (i.e., €108 million or 10% of the shares offered, including the increase option)

Size of the offering

The IPO was effected by the sale of 28,556,305 existing shares, including the full exercise of the increase option (i.e., 3,724,735 existing shares) and before the exercise of the over-allotment option.  The offering includes existing shares principally sold by the Wendel Group (27,724,735 shares) and by certain current and former Bureau Veritas managers (831,570 shares).

The gross proceeds of the French Public Offering and the Global Offering represent a total amount of approximately €1,078 million (before exercise of the over-allotment option and excluding the Reserved Offerings).

Wendel granted the Joint-Lead Managers and Joint-Bookrunners an option to purchase up to an additional 15% of the total number of shares offered in the offering, amounting to 4,283,445 additional existing shares, in order to cover over-allotments. This over-allotment option may be exercised on one occasion, in whole or in part, until November 21, 2007 (inclusive).

At the  time of the IPO, Bureau Veritas’s share capital is as follows:

Following the close of the offering (after the completion of the capital restructuring transactions, and excluding the Reserved Offerings, the treasury shares, and stock options) and before the possible exercise of the over-allotment option, Wendel holds 67.6% of Bureau Veritas’s share capital and the manager shareholders own 4.3% of the share capital.  Following the possible exercise in full of the over-allotment option, Wendel would hold 63.6% of the share capital.

Furthermore, Bureau Veritas may issue up to 1,150,000 new shares in connection with the offering reserved for employees and certain managers (the “Reserved Offerings”).  The final number of new shares to be issued pursuant to the Reserved Offerings for employees is to be determined based on the number of subscription requests received and will be disclosed in a press release.  The share capital increase for the Reserved Offerings is to be effected once the Company’s shares are admitted to trading on the Eurolist market of Euronext Paris™ and subject to the settlement and delivery of the shares of the Company sold pursuant to the French Public Offering and the Global Offering.

Finally, no more than 3,819,510 new shares may be issued pursuant to the exercise of the 381,951 stock options granted by Bureau Veritas.

Expected Timetable

Trading on Eurolist by Euronext Paris (Compartment A) will begin on October 24, 2007, at 10:00 a.m. (Paris time). Settlement and delivery should occur on October 26, 2007.

Financial intermediaries

BNP Paribas, Deutsche Bank, Goldman Sachs International, HSBC and Société Générale acting as Joint-Lead Managers and Joint-Bookrunners.

ABN AMRO, Cazenove, Lazard-Natixis, Merrill Lynch, Oddo & Cie and UBS acting as Co-Lead Managers.

Information available to the public

Copies of the French prospectus registered with the AMF on October 8, 2007 under visa n°07-348, comprised of the Document de base registered with the AMF on July 10, 2007 under number I-07-127 (the “Document de Base”), the update of Document de base filed with the AMF on August 29, 2007 under number D.07-0697-A01 (the “Update”) and the Note d’opération including summary of the prospectus (the “Note d’Opération”) are available free of charge from the Company (17 bis, Place des Reflets, La Défense 2, 92077 Paris la Défense Cedex) as well as on its website (www.bureauveritas.fr) and on the AMF website (www.amf-france.org).

A legal notice will be published in the French Bulletin des Annonces légales obligatoires ("BALO") on October 26, 2007.

Persons wishing to obtain additional information may call the following number (toll-free from land lines): 0 800 43 42 41.

Risk factors

Investors are advised to carefully read the risks described in chapter 4, entitled “Facteurs de risque”, of the Document de Base and of the Update, as well as in chapter 2 of the Note d’Opération.  The occurrence of one or more of these risks could have a material adverse affect on the group, the group’s business, financial condition, results of operations, ability to reach its objectives or the price of the Company’s shares. 

About Bureau Veritas

Founded in 1828, Bureau Veritas considers it is the world’s second largest group (based on revenue and number of employees in 2006) offering conformity assessment and certification services in the fields of quality, health and safety, environment and social responsibility ('QHSE'), and the world leader in QHSE services excluding commodities testing.  Bureau Veritas is recognised and accredited by major national and international organisations.  With over 700 offices and laboratories in more than 140 countries and more than 27,000 employees at June 30, 2007, the Group is one of the three market players with a comprehensive worldwide network offering significant competitive advantages.

In the last ten years, since 1996, Bureau Veritas has quadrupled its sales to €1,846 million, and its operating profit has increased seven-fold to €268 million. In 2006, the group posted consolidated net profit of €154 million.

Site : www.bureauveritas.fr

This press release must not be published, distributed or sent, directly or indirectly, to any recipient in the United States, Canada, Australia or Japan.

This press release and the information contained herein do not constitute an offer to sell or the solicitation of an offer to purchase shares in Bureau Véritas in any country.  Shares in Bureau Véritas have not been and are not intended to be registered under the United States Securities Act of 1933 as amended ("the US Securities Act") and may not be offered in the United States absent registration with the United States Securities and Exchange Commission or an applicable exemption from registration requirements.  Bureau Véritas does not intend to register any securities under the US Securities Act or to offer any securities to the public in the United States.

This document is only directed at and being provided to persons in the United Kingdom who are a) authorized persons who have professional experience in matters relating to investments within the meaning of the Financial Services and Markets Act 2000 (FSMA) and Article 19 of the Financial Services and Markets Act (Financial Promotions) Order 2005 (“the Order”) or b) high net worth entities, unincorporated associations and to other persons to whom it may otherwise be lawfully communicated falling within Article 49(2)(a)-(d) of the Order.

The release, publication or distribution of this press release in certain jurisdictions may be restricted by law or regulations. Therefore, persons in such jurisdictions into which this press release is released, published or distributed must inform themselves about and observe such laws and restrictions.

This press release contains forward-looking statements relating to the business, financial performance, strategy and results of Bureau Veritas. These forward-looking statements involve known and unknown risks, as well as other factors and uncertainties that could cause actual results, events or performance to differ significantly from any anticipated development.  These forward-looking statements do not constitute guarantees of future occurrences.  The real operational performance, financial position, and liquidity of Bureau Veritas, as well as the evolution of its current industry, may differ materially from the forward-looking statements contained in this release.  All forward-looking statements are based on information Bureau Veritas has as of the date of this release. Bureau Veritas has no obligation and makes no commitment to revise or to confirm forward-looking statements or analysts’ estimates, if new circumstances or events arise after the date of this release.  Moreover, the occurrence of certain risks described in chapter 4 of the French Document de base and of the Update as well as in chapter 2 of the Note d’Opération could have an impact on these forward-looking statements.

During a period of 30 days following the date of adequate public disclosure of the offering price and until November 21, 2007 (inclusive), Goldman Sachs International, as stabilizing agent, may (but is not obligated to), in compliance with applicable law, in particular the provision of EU Commission Regulation N° 2273/2003 of December 22, 2003 regarding implementation of Directive 2003/06/CE of the European Parliament and of the council of January 28, 2003 on insider dealing and market manipulation, undertake stabilization transactions with a view to stabilizing or maintaining the price of ordinary shares on Eurolist by EuronextTM. In compliance with article 10-1 of EU Commission regulation N°2273/03 of December 22, 2003, in order to qualify for the exemption provided in article 8 of Directive 2003/06/CE, the stabilization transactions may not be effected at a price greater than the offering price in the Offering.

Contacts

Analysts-investors 

Bureau Veritas - Claire Plais – 01 42 91 28 54 

Journalists
Bureau Veritas - Olivier Richard –  01 42 91 33 26
Bureau Veritas – Véronique Gielec –  01 42 91 32 74
Euro RSCG C&O - Christelle Lion – 01 58 47 95 40