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Accor Refutes Club Mediterranee’s Offer Rumors

A number of newspaper articles
have speculated on the possibility of Accor making a public offer for Club
Mediterranee, based on the fact that Richelieu Finance has increased its
holding in Club Mediterranee. In response, Accor would like to state that the allegations concerning
Accor are unfounded, that it is not preparing any public offer for Club
Mediterranee and that it does not act in concert with any other Club
Mediterranee shareholder. This complies fully with the information
disclosed to Autorite des Marches Financiers (France’s stock market
authorities), on October 28, 2004.