EXCHANGE TENDER OFFER (ETO)
LAUNCHED BY GROUPE EUROTUNNEL S.A. (GET S.A.)
FOR EUROTUNNEL S.A. AND P.L.C.

Summary

Q.1 - I tendered all my Units to the Offer: what happens next?

Q.2 – What happens to my warrants if I sell some or allof my shares before 2011?

Q.3 – I only tendered some of my Units to the Offer? What should I do?

Q.4 – I chose to wait and keep my Eurotunnel Units without taking part in the Offer: What are my options? What will happen now?

Q.5 – Will I have to pay any costs in respect of this transaction?

Q.6 – I live in Canada, Italy or Japan, can I now take part in the second phase of the Offer? What do I need to do?

Q.7 – Who are GET SA’s registrars, Computershare or BP2S ?

Q.8 - I subscribed for some NRS. When will I know how many have been allocated to me?

Q.9 – When will the AGM of ESA and EPLC be held ?

Q.10 – What of GET SA’s AGM ?

Q.11 – Can I sell my Eurotunnel shares today? Or can I buy some?

Q.12 – What will the opening share price be for GET SA shares on the settlement date? Who determines the share price?

Q.13 – What will happen to Eurotunnel’s listingfrom 29 June 2007?

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Q.1 - I tendered all my Units to the Offer: what happens next?
There is nothing more for you to do.

On the settlement date – currently planned on 28 June - you will receive the same number of shares in Groupe Eurotunnel SA (GET SA)/Share CDIs as the number of Eurotunnel Units you tendered to the Offer. You will also receive an equal number of Warrants/Warrant CDIs.

Trading will be possible in GET SA shares/Share CDIs and warrants/Warrant CDIs from thesettlement date.

Please note that Units which have been tendered to the Offer can no longer be traded.

Q.2 – What happens to my warrants if I sell some or all of my shares before 2011?
The shares/Share CDIs and the warrants/Warrant CDIs are two separate securities and you will remain entitled to your warrants/Warrant CDIs if you sell your shares/Share CDIs.

Shareholders considering disposing of their warrants/Warrant CDIs shortly following the settlement date are invited to consider the risk factors at paragraph 3.2 page 76 of theOffer Document approved by the AMF on 4 April 2007.

Q.3 – I only tendered some of my Units to the Offer? What should I do?
Shareholders who did not tender any or all of their Units to the Offer during the initial period can still do so in the second period: between 1st and 14th June 2007.
You will only receive a number of GET SA shares/Share CDIs and warrants/Warrant CDIs equal to the number of Units tendered. You will retain any Units which you have not tendered.

If you choose to remain a Unitholder in Eurotunnel, you must consider carefully the following facts: The overwhelming level of success of the Offer means that you would bevery much in a minority in ESA/EPLC. Following the recapitalization transactions envisaged in paragraph 1.3.2 of the Offer Document, your holding will be significantly diluted. Itis therefore likely that following the complete implementation of the reorganization, the market in Units will no longer meet the liquidity criteria which constitute a requirementf or listing both on Euronext and the LSE. It is likely that the Units may be delisted inaccordance with applicable regulations in the country concerned.

Q.4 – I chose to wait and keep my Eurotunnel Units without taking part in the Offer: What are my options? What will happen now?
(Same answer as Q.3)

Q.5 – Will I have to pay any costs in respect of this transaction?
Shareholders participating in the Offer do not have to make any additional investment.They will receive one new share and one warrant for every unit they bring to the Offer.
Finally, as the operation involves the transfer of the Eurotunnel Units to GET SA in exchange for GET SA issuing new shares to Eurotunnel shareholders, if you are a shareholder on the UK register (and not a CREST participant) you will need to produce yourshare certificate(s) which are evidence of your ownership of the Units, or provide an indemnity in the form required by EPLC. If you are unable to do produce your share certificate(s), there may be costs associated with the form of indemnity required. This would be the case if you were selling or transferring your Eurotunnel Unit in any other circumstances.

Q.6 – I live in Canada, Italy or Japan, can I now take part in the second phase of the Offer? What do I need to do?
Due to local securities law constraints, you will not be able to accept the offer from Canada, Italy and Japan.

Q.7 – Who are GET SA’s registrars, Computershare or BP2S ?
BP2S is GET SA’s registrar (Service Titres). However, Computershare will continue to assist Eurotunnel’s UK retail investors by administering the CDIs which are being offered to Eurotunnel shareholders tendering their Units to the Offer and who hold their Units in UK registered form.
If you are a Eurotunnel shareholder on the UK Register maintained by Computershare and hold share certificates, you have the option to either hold your GET SA shares and warrants on the French register maintained by BNP2S or hold CDIs representing yourentitlement to GET SA shares and warrants and administered by Computershare.

In all cases, as the GET SA shares and warrants are dematerialized, no paper certificate will be issued but either BNP2S or Computershare will confirm your holding by way of astatement.

Q.8 - I subscribed for some NRS. When will I know how many have been allocated to me?
All NRS subscriptions are centralised in order to calculate the total amount of NRS being subscribed by shareholders. The total amount of NRS set aside for retail investors is €88 million. Once the total amount subscribed is known, as well as the total number of Units tendered to the Offer, the exact allocation for each subscriber will be calculate within the limit of the total amount subscribed.

The NRS will be issued in bearer form and can only be held directly or indirectly througha  Euroclear France securities account.
Unitholders subscribe for NRS will be notified of the number of NRS in respect of whichtheir application has been successful. When they are notified, they will be required toprovide details of the Euroclear France securities account (in their name or that of their broker or other financial intermediary) to which (subject to payment) the NRS should be credited.
If you have applied to subscribe for NRS and do not have a suitable broker or other financial intermediary to hold the NRS on your behalf, Eurotunnel has put in place arrangements whereby you can open a securities account with TD Waterhouse. In order to do this you should contact TD Waterhouse on 0845 607 6001 or at www.tdwaterhouse.co.uk.

Euronext will publish on 25 June 2007 a notice setting out the precise terms of settlementof the GET SA shares and warrants as well as the listing conditions applying to the NRS.

NB : the subscription period for the NRS is now closed. It is not possible to subscribefor NRS in the reopening period whether or not you subscribed for NRS in the first period.

Q.9 – When will the AGM of ESA and EPLC be held ?
The AGM of ESA and EPLC will be held on 27 July 2007 in Coquelles, France at 4 p.m. Frenchtime.

Following the settlement date of the reorganisation, only shareholders of ESA/EPLC who have not tendered all of their Units to the offer will have the right to attend and vote at those meetings.

Q.10 – What of GET SA’s AGM ?
It is likely that the AGM of GET SA will be held in the second quarter of 2008 to approve the 2007 reports and accounts.

Q.11 – Can I sell my Eurotunnel shares today? Or can I buy some?
Yes. It is still possible to buy and sell them unless of course such Units have been tendered to the Offer.

Any Units so purchased can be tendered to the Offer in the reopening period in the samecondition as in the first period i.e. one GET SA share/Share CDI and one warrant/WarrantCDI for every Unit tendered. However, special attention must be given to the settlementterms applying to any such purchase (in the case of a transfer of certificated units this can be [ ] days) as it is essential that you take delivery of the Units in time to tender them to the Offer. As an indication, Euronext have indicated that between 12 and 19 June 2007, the Units will be listed under a separate ISIN Code identifying them as no longer benefiting from the Offer.

Q.12 – What will the opening share price be for GET SA shares on the settlement date? Who determines the share price?
The new shares in GET SA as well as the new warrants to be issued as part of the Offer will be issued, following completion of all the formalities relating to the implementation of the Safeguard Plan, on a settlement date being 28 June 2007. They will be admitted to listing on Eurolist by Euronext Paris and on the London Stock Exchange immediately afterthat date. Euronext will publish on 25 June 2007 a notice setting out the settlement termsfor the GET SA shares and warrants, the terms of listing of those securities and thosea pplying to the NRS.

The share price will be determined by the market.

It is likely that following the implementation of the Reorganisation, the market for the Units will no longer meet the liquidity requirements for the listing of the Units on Eurolist by EuronextTM or the Official List of the United Kingdom Listing Authority or their admission to trading on the London Stock Exchange. The listing of the Units maytherefore, in accordance with applicable regulations in the relevant country and with theapproval of the relevant regulatory authorities, be cancelled, in particular as part of the Recapitalisation Transactions of ESA and EPLC.

Q.13 – What will happen to Eurotunnel’s listing from 29 June 2007?
See Q12

The terms of the Offer and of the reorganisation of Eurotunnel are set out in the Offer Document approved by the AMF on 4 April 2007 under number 2007-112 and in the Prospectus (comprised of the Registration Document registered on 21 March 2007 by the AMF under number i.07-021 and of the Securities Note approved by the AMF on 4 April 2007 under number 2007-113). These documents can be viewed on the following websites: www.groupe-eurotunnel.com (also available from Eurotunnel’s website: www.eurotunnel.com) and www.amf-france.org.They are also available free of charge at the registered office of the company. The attention of the public is drawn in particular on the risks factors described in the Prospectus.