EXEL Industries enjoys coverage by several brokers who regularly publish stock market analysis about its shares.

	> Company	> Analyst
	• Arkeon Finance	> Gilbert FERRAND
	• Aurel – BGC	> Julien GUEZ
	• CM-CIC Securities	> Christian AUZANNEAU
	• Crédit Agricole Cheuvreux	> Carole ROZEN
	• Gilbert Dupont	> Denise BOUCHET
	• ID Midcap	> Denis SCHERRER
	• Oddo Securities	> Jean-François GRANJON
	• Portzamparc	> Jean-Baptiste BARENTON

This information is supplied on the basis of information transmitted by brokers.  It is provided by EXEL Industries for information only.

The presence of this information on the EXEL Industries website does not constitute in any way a validation or approval by EXEL Industries of all or part of the forecasts made by the above analysts.

This information is not and does not constitute any incitement to purchase or sell the shares or to carry out transactions of any nature whatsoever.