Securities Act of 1933
Rule 902(b)

March 16, 2007

Response of the Office of International Corporate Finance
Division of Corporation Finance

Based on the facts presented, the Division will not object if the reference to the Bourse de Paris in Rule 902(b) under the Securities Act of 1933 is deemed to be a reference to the Eurolist Market and the Alternext Market. This position is based on the representations made to the Division in your letter, and any different facts may require a different conclusion.

Incoming Letter:

The Incoming Letter is in Acrobat format.

http://www.sec.gov/divisions/corpfin/cf-noaction/2007/eurolist031607-reg-s.htm