Form 20-F 2005

Trading Practices and Procedures on Euronext Paris Markets
General
Euronext N.V. is currently comprised of Euronext Paris, Euronext Amsterdam, Euronext Brussels, Euronext Lisbon and the London
International Financial Futures and Options Exchange (“LIFFE”).
Securities quoted on any of the stock exchanges participating in Euronext cash markets are traded and cleared through common
Euronext platforms: NSC is the common platform for trading and Clearing 21 for clearing. LIFFE CONNECT, the LIFFE trading
platform, is already used for all Euronext futures and options. Euronext Paris S.A. has achieved the implementation of a central
clearinghouse of settlement and of custody structures. However, these securities will remain listed on their respective local exchanges.
As part of Euronext, Euronext Paris S.A. retains responsibility for the admission of securities to Euronext Paris’ trading markets, as
well as for the regulation of these markets.
Euronext N.V. has been listed on Eurolist by Euronext (previously the Premier Marché) of Euronext Paris since July 2001.
In January 2002, Euronext N.V. acquired the London International Financial Futures and Options Exchange (LIFFE), London’s
derivatives market. On February 6, 2002, Bolsa de Valores de Lisboa e Porto (BVLP) became a wholly-owned subsidiary of
Euronext N.V. and was therefore renamed Euronext Lisbon.
Euronext Paris S.A. and Eurolist by Euronext
As from February 21, 2005, all securities currently traded on the Premier, Second and Nouveau Marchés are listed and traded
on a single market “Eurolist by Euronext” which is operated by Euronext Paris S.A.. In accordance with the rules of Euronext
Paris S.A. as modified, the shares issued by domestic and other companies are classified in capitalization compartments. The shares
of listed companies are distributed between three capitalization compartments, according to the criteria set by Euronext Paris:
Compartment A comprises the companies with a market capitalization above 1 billion euros;
Compartment B comprises the companies with a market capitalization between 150 million and up to and including
1 billion euros; and
Compartment C comprises the companies with a capitalization below 150 million euros.
Our ordinary shares are classified in Compartment A of the Eurolist by Euronext market.
Euronext Paris S.A. places securities in two categories depending on their trading volume. The two categories are “Continu”
(continuous trading) or “Fixing” (call auctions). Our ordinary shares are placed in the category Continu, which includes the most
actively traded securities. The minimum yearly trading volume required for a security to be placed in Continu is 2,500 trades.
Securities listed on Eurolist by Euronext are traded through authorized financial institution that are members of Euronext Paris.
For Continu securities, trading takes place continuously on each business day from 9:00 a.m. to 5:25 p.m. (Paris time), with a preopening
session from 7:15 a.m. to 9:00 a.m. and a pre-closing session from 5:25 p.m. to 5:30 p.m. during which transactions are
recorded but not executed, and a closing auction at 5:30 p.m. From 5:30 p.m. to 5:40 p.m., which corresponds to “trading at last
phase”, transactions are executed at the closing price. Any trade of securities that occurs after a stock exchange session closes is
recorded on the next Eurolist trading day at the previous session’s closing price for that security. Euronext Paris S.A. has introduced
continuous electronic trading during trading hours for most actively traded securities. Euronext Paris publishes a daily official price
list that includes, among other things, price information on listed securities. Trading in a security after trading hours can be effected
within a range price of 1% of the closing price.
Form 20 - F 2005 - Rhodia
87