Technip: First Quarter 2005 Results; Earnings per Share Up by One-Third; Order Intake Doubles.

PARIS -- Technip (NYSE:TKP):

First Quarter IFRS Euros in Millions (except EPS and E/ADS) 2005 2004 Change --------- -------- ------ -- Backlog at March 31 7,184 6,451 11.4% -- Revenues 1,201 1,249 - 3.8% -- Income from Operations (EBIT) 50.4 43.3 16.4% -- Net Income 21.7 19.9 9.0% -- Fully Diluted EPS (EUR) 1.01 0.76 32.9% -- Fully Diluted E/ADS ($) 0.33 0.25 32.9% On May 18, 2005, the Board of Directors of Technip approved the unaudited first quarter 2005 consolidated accounts prepared in accordance with the International Financial Reporting Standards (IFRS).

Daniel Valot, Chairman and CEO, commented: "Our first quarter 2005 results are in line with our expectations. Although revenues were marginally lower due to the declining dollar, our operating margins continued to expand in a satisfactory manner. Our full-year targets released at the beginning of February 2005 remain unchanged and have been expressed according to IFRS.

We have entered into a period of high activity. In most of the Group's business segments, especially LNG, deep offshore, refining and petrochemicals, the number and size of new projects coming to market are such that the overcapacity, which has weighed on the engineering and construction industry these past few years, is today rapidly being reduced. In the current environment, which is quite positive for Technip, market growth should lead us to continue to adapt our production capacities.

Given the dynamics of our markets, there is every reason to believe that Technip's order intake will mark 2005 as a vintage year, both in terms of quantity and quality, which should lead to sustained growth for Technip in 2006 and 2007."

I. OPERATIONAL HIGHLIGHTS

Order intake for the first quarter of 2005 was EUR 1,856 million, more than twice as high as the first quarter of 2004 (EUR 876 million). Listed below are the main contracts that came into force during the quarter along with their approximate values (Technip's share) if publicly disclosed:

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