Bouygues Offshore S.A. Reports 1998 First Half Net Sales, New Orders And Backlog

Business Wire, August 14, 1998

MONTIGNY-LE-BRETONNEUX, France--(BUSINESS WIRE)--August 14, 1998--Bouygues Offshore S.A. (NY :BWG) announced its net sales, new orders and backlog for the six months and second quarter ended June 30, 1998. They are as follows:

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Half year figures:
                  Six months   Six months   Six months   Six months
Millions            ended        ended        ended        ended
                   6/30/98      6/30/98      12/31/97     6/30/97
                   US $(1)         FF           FF           FF
Net Sales(2)        404.0       2,446         2,690       2,293
New orders          418.7       2,532         1,642       2,583
Backlog  end  of    431.3       2,608         2,522       3,570
period

(1) US$ net sales are translated at an average exchange rate of US $
1 = FF 6.0550 which is the average of the noon buying rates from
January 1st, 1998 to June 30, 1998.  New orders and backlog are
translated at an exchange rate of US $ 1 = FF 6.0470 which is the
noon buying rate on June 30, 1998.

(2) 1998 first half net sales and 1997 first half net sales included
respectively FF 106 million and FF 138 million of operating costs
billed directly to single project joint ventures or reimbursable
expenses billed to customers.

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Quarterly figures:
                 Three months Three months Three months Three months
Millions            ended        ended        ended        ended
                   6/30/98      6/30/98      3/31/98      6/30/97
                   US $(1)         FF           FF           FF
Net Sales(2)        234.5       1,411         1,035       1,344
New orders          164.9         997         1,535       2,176
Backlog  end  of    431.3       2,608         3,022       3,570
period

(1) US$ net sales are translated at an average exchange rate of US $
1 = FF 6.0162 which is the average of the noon buying rates from
April 1st, 1998 to June 30, 1998.  New orders and backlog are
translated at an exchange rate of US $ 1 = FF 6.0470 which is the
noon buying rate on June 30, 1998.

(2) 1998 second quarter net sales and 1997 second quarter net sales
included respectively FF 67 million and FF 95 million of operating
costs billed directly to single project joint ventures or
reimbursable expenses billed to customers.

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Net sales for the six months ended June 30, 1998 increased 6.7% to FF 2,446 million from FF 2,293 million in the first half of 1997. At June 30, 1998, the Company's backlog was FF 2,608 million. It did not include the two contracts awarded by Elf Exploration Angola in July for the development of the Girassol field; for an amount of approximately FF 2,900 million. The Company expects to release detailed 1998 first half results September 15, 1998.

Bouygues Offshore S.A. is a leading international contractor serving the oil and gas industry, specializing in providing integrated solutions for the design, construction, installation and management of offshore and onshore oil and gas production-related turnkey projects. The Company also provides maintenance services to the oil production industry, engages in high-end maritime and river-related civil works projects and designs and constructs liquefied natural gas (LNG) import terminals as well as storage tanks.

CONTACT: Mireille Arvier

Investor Relations Manager

Bouygues Offshore

33-1-30-60-75-06

Email: m.arvier@bouygues-offshore.com

or

Lynn Morgen/Betsy Brod

Press: Terry Rooney-Brian Maddox

Morgen-Walke Associates, Inc.

212/850-5600