GET: Groupe Eurotunnel SA: Groupe Eurotunnel: Application of European Regulations to the Channel Tunnel

  GET: Groupe Eurotunnel SA: Groupe Eurotunnel:Application of European
  Regulations to the Channel Tunnel

UK Regulatory Announcement


With several different sources announcing an imminent publication from the
European Commission, for the attention of the United Kingdom and France, in
relation to the application of European regulations on charges for passenger
and freight trains in the Channel Tunnel, Groupe Eurotunnel (Paris:GET) would
like to emphasise the following points of fact:

  *This process is targeted at the states and not at the company,
  *The Channel Tunnel is an integrated transport system (Le Shuttle), which
    gives passage to trains in return for an access charge,
  *The initial investment, entirely privately funded, was 15 million euros.
    This is different to all other European railway infrastructures, which are
    financed by states,
  *The investment was made on the basis of traffic hypotheses calculated by
    the states and their operators,
  *Access charges are defined in the Railway Usage Contract (RUC), signed in
    1987 by the national operators, BRB and SNCF. They are proportional to the
    cost of the adjacent public infrastructures and more advantageous,
  *Eurotunnel has always sought the development of cross-Channel traffic and
    concentrates significant resources on this goal,
  *Eurotunnel believes that the IGC has delayed the authorisation of Deutsche
    Bahn services, which has just been granted, by three years,
  *Eurotunnel regrets that some major railway operators have had difficulties
    which have led them to abandon cross-Channel traffic,
  *To Eurotunnel’s knowledge, only Eurostar (more than 100 million euros
    profit in 2012) is contesting a claimed lack of transparency in 2014
    access charges, finding issue with a contract which it has applied for 19
  *If modifications were to be made to the Concession which were unfavourable
    to the interests of the thousands of small shareholders in Groupe
    Eurotunnel, the group would seek a legitimate indemnity from the states,
    based upon the period up to 2086, the term of the Concession.

For media enquiries
John Keefe, + 44 (0) 1303 284491
For investor enquiries
Michael Schuller, +44 (0) 1303 288749


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