FRANCE TELECOM : FRANCE TELECOM ORANGE issues a EUR 750 million 6.5-year bond with a coupon of 1.875%

FRANCE TELECOM : FRANCE TELECOM ORANGE issues a EUR 750 million 6.5-year bond
                           with a coupon of 1.875%

                                                                 press release

                                                         Paris, March 26, 2013

                       Not for distribution in the USA

France Telecom-Orange issues a EUR 750 million 6.5-year bond with a coupon  of 
1.875% in order to take advantage of favorable interest rates conditions

           Currency Format     Term         Notional    Yield  Re-offer spread
           Euro     Fixed rate October 2019 750 million 1.875% m/s + 80 bp

Barclays, Banco  Bilbao  Vizcaya Argentaria  SA,  HSBC Bank  Plc  and  Société 
Générale CIB acted as bookrunners.

                                                                  About Orange
        France Telecom-Orange is one of the world's leading telecommunications
   operators with annual sales of 43.5 billion euros and has 170,000 employees
 worldwide at 31 December 2012, including 105,000 employees in France. Present
     in 33 countries, the Group has a total customer base close to 231 million
  customers at 31 December 2012, including 172 million mobile customers and 15
million broadband internet (ADSL, fibre) customers worldwide. Orange is one of
   the main European operators for mobile and broadband internet services and,
      under the brand Orange Business Services, is one of the world leaders in
              providing telecommunication services to multinational companies.

       With its industrial project, "conquests 2015", Orange is simultaneously
  addressing its employees, customers and shareholders, as well as the society
  in which the company operates, through a concrete set of action plans. These
         commitments are expressed through a new vision of human resources for
  employees; through the deployment of a network infrastructure upon which the
   Group will build its future growth; through the Group's ambition to offer a
      superior customer experience thanks in particular to improved quality of
           service; and through the acceleration of international development.

France Telecom (NYSE:FTE) is listed on NYSE Euronext Paris (compartment A) and
                                               on the New York Stock Exchange.
     For more information (on the internet and on your mobile):www.orange.com,
 www.orange-business.com, www.orange-innovation.tv or to follow us on Twitter:
                                                                @presseorange.
Orange and any other Orange product or service names included in this material
     are trade marks of Orange Brand Services Limited, Orange France or France
                                                                      Telecom.

Press contacts: +33 1 44 44 93 93
Olivier Emberger, olivier.emberger@orange.com
Sébastien Audra, sebastien.audra@orange.com 

                                                                       CAUTION
                                     NOT FOR DISTRIBUTION IN THE UNITED STATES
  This press release, of a purely informative nature, is not and cannot in any
  way be construed as an offering to sell any securities, or as a solicitation
     of any offer to buy securities, in any jurisdiction, including the United
       States, Japan, Australia, Canada and the United Kingdom. The securities
      mentioned in this press release have not been and will not be registered
pursuant to the US Securities Act of 1933, as modified. They cannot be offered
         or sold in the United States absent registration or an exemption from
 registration. No public offer of these securities has been or will be made in
                                               the United States or elsewhere.

                  France Telecom-Orange issues a EUR 750 million 6.5-year bond

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                                Source: FRANCE TELECOM via Thomson Reuters ONE
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