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NEWS RELEASE

For Immediate Release: May 4, 2004

Saskatoon, Saskatchewan, Canada

AREVA Sustains Environmental Leadership

AREVA subsidiary COGEMA Resources has become the first uranium mining company in Canada to achieve ISO 14001 environmental management certification for its Saskatchewan exploration activities. This certification covers both internal staff activities and external consultant and contractor activities.

Recognized in 90 countries, ISO 14001 certification verifies that the environmental management system employed by COGEMA's exploration activities meets the highest international standard.

"Environmental protection is a key priority for us," said COGEMA Resources President and CEO Tim Gitzel. "This certification helps to ensure that our exploration activities - which are often conducted in pristine settings - leave as little trace as possible."

COGEMA's exploration department conducts several exploration projects in Northern Saskatchewan each year. A uniform environmental management system is particularly important, since most of these projects involve contracted drilling crews and other services.

Gitzel said the certification reinforces the confidence of COGEMA's customers and regulators as well as the northern residents. Formal systems are now in place to minimize and mitigate any environmental impacts, and to ensure that all activities are in accordance with all government regulations.

COGEMA Resources is the quality leader in the uranium mining industry. The company's McClean Lake operation in northern Saskatchewan was the first uranium mine in North America to achieve ISO 14001 certification for its environmental management system in 2000. Since then, COGEMA has implemented processes for ISO certification for its Cluff Lake mine decommissioning.

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With manufacturing facilities in over 40 countries and a sales network in over 100, AREVA offers customers technological solutions for nuclear power generation and electricity transmission and distribution. The group also provides interconnect systems to the telecommunications, computer and automotive markets. These businesses engage AREVA's 70,000 employees in the 21st century's greatest challenges: making energy and communication resources available to all, protecting the planet, and acting responsibly towards future generations.

AREVA subsidiary COGEMA Resources is the operator and majority owner of the McClean Lake uranium operation located about 700 kilometres northeast of Saskatoon. The company also owns and operates the Cluff Lake mine (now awaiting decommissioning approval), operates the Midwest uranium project, and owns shares of the Cigar Lake, McArthur River and Key Lake uranium mines. About half of COGEMA Resources' mine workers are residents of northern Saskatchewan.