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    • Ownership disclosure thresholds
    (summary of Article 11 of the articles of association)

    In addition to the ownership disclosure requirements stated under articles L. 233-7 to L. 233-14 of the French Commercial Code, Neopost S.A. requires all shareholders whose ownership rises above 3%, and every subsequent 1%, to disclose any increase or decrease in their interest.
    This requirement was introduced by the shareholders’ meeting of 5 October 1998. Failure to comply with ownership disclosure requirements will lead to the withdrawal of voting rights for a period of 2 years from the date on which disclosure is finally made.

    At 31 January 2007, four shareholders had declared that they had crossed a disclosure threshold:

    • Fidelity Funds with 3,334,081 shares or 10.35% of the share capital as at 26 April 2001;
    • Harris Associates with 1,676,639 shares or 5.38% of the capital as at 30 October 2007;
    • Jupiter Asset Management Limited with 2,022,772 shares or 6.41% of the capital as at 2 October 2006;
    • and Arnhold & Bleichroeder Advisers with 3,529,473 shares or 11,16% of the capital as at 21 January 2008.