BNP Paribas Primary New Issues : AIR LIQUIDE - BNP Paribas Primary New Issues : Stabilisation Notice

BNP Paribas Primary New Issues : AIR LIQUIDE - BNP Paribas Primary New Issues
                            : Stabilisation Notice

Date: 27th February 2013

Not for distribution, directly or indirectly, in or into the United States  or 
any jurisdiction in which such distribution would be unlawful.

                           Issuer: Air Liquide SA

                           Pre Stabilisation Notice

BNP Paribas (co-ordinator) Contact:: Rupert Lewis, Telephone number 00 44 207
595 8222, hereby gives  notice that the Stabilising  Managers named below  may 
stabilise the offer of the following securities in accordance with  Commission 
Regulation  (EC)  No.  2273/2003  implementing  the  Market  Abuse   Directive 
(2003/6/EC).

The securities:
Issuer:                                 Air Liquide SA
Guarantor (if any):                     n/a
Aggregate nominal amount:               €300m
Description:                            Senior, unsecured, RegS Bearer, Fixed
                                        due 6 September 2023
Offer price:                            tbc
Stabilisation:
Stabilising Manager(s):                 BNPP / CM-CIC / Natixis / RBS
Stabilisation period expected to start  27/02/2013
on:
Stabilisation period expected to end no 05/03/2013
later than:
Maximum size of over-allotment          5% of the aggregate nominal amount
facility:

In connection  with  the  offer  of  the  above  securities,  the  Stabilising 
Manager(s) may over-allot the securities or effect transactions with a view to
supporting the market  price of  the securities at  a level  higher than  that 
which might  otherwise  prevail.  However,  there is  no  assurance  that  the 
Stabilising  Manager(s)   will  take   any   stabilisation  action   and   any 
stabilisation action, if begun, may be ended at any time.

This announcement is for information purposes only and does not constitute  an 
invitation or  offer to  underwrite,  subscribe for  or otherwise  acquire  or 
dispose of any securities of the Issuer in any jurisdiction.

This announcement and the offer of the securities to which it relates are only
addressed to and directed at persons outside the United Kingdom and persons in
the United  Kingdom who  have professional  experience in  matters related  to 
investments or who  are high  net worth persons  within article  12(5) of  the 
Financial Services and Markets Act  2000 (Financial Promotion) Order 2005  and 
must not be acted on or relied on by other persons in the United Kingdom.
In addition, if and to the  extent that this announcement is communicated  in, 
or the offer of the securities to which it relates is made in, any EEA  Member 
State that has implemented Directive 2003/71/EC (together with any  applicable 
implementing measures in any Member State, the "Prospectus Directive")  before 
the publication of a prospectus in  relation to the securities which has  been 
approved by the competent  authority in that Member  State in accordance  with 
the Prospectus Directive (or which has been approved by a competent  authority 
in another Member State and notified to the competent authority in that Member
State in accordance with the Prospectus Directive), this announcement and  the 
offer are only addressed to and directed  at persons in that Member State  who 
are qualified investors within the meaning of the Prospectus Directive (or who
are other persons to whom the offer may lawfully be addressed) and must not be
acted on or relied on by other persons in that Member State.

This announcement  is not  an offer  of securities  for sale  into the  United 
States. The securities have  not been, and will  not be, registered under  the 
United States Securities Act  of 1933 and  may not be offered  or sold in  the 
United States absent  registration or an  exemption from registration.  There 
will be no public offer of securities in the United States. END

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Source: BNP Paribas Primary New Issues via Thomson Reuters ONE
HUG#1681501