Press release

Paris : August 27, 2007

2007 Interim Financial Report

2007 first-half consolidated revenues : +13 %

In ⁄ ‘000 30/06/06 % change 30/06/07 Production 45 211 13 % 51 136 Distribution 8 833 58 % 13 983 Marketing 6 259 (51)% 3 065

Revenues 60 303 13 % 68 184

I - Activity

1. Production

During the first half, the production segment has confirmed its performances with a growth of more than 13 %. In accordance with the group’s strategy to diversify the production genres (Drama, TV Shows, Documentaries, News Reports, Animation) and to federate producers, the volume of production has increased to more than 30 hours for drama and more than 130 hours for TV Shows. During the first semester of 2007, Carrere Group has delivered principally the following drama productions:

- For : Gréco (PM Holding), Le clan Pasquier (Septembre), Double peine (EGO) - For TF1 : Section de recherches (Auteurs Associés), Rose et Val (Dajma) - For M6 : La légende des trois clés (Nelka Productions)

And the following TV Shows:

- For France 2: Esprits Libres (Guillaume Durand Productions) - For France 3 : C’est pas Sorcier (Riff International Productions) - For : Arrêts sur Images (Riff International Productions) - For Arte : Les Gens d’Europe (Riff International Productions) - For TF1 : Langues de VIP ()

The Post Production sub-segment, which is mainly comprised of the two subsidiaries FX et Post Moderne (both entities headed by Isabelle Petiot), totalled sales of ⁄ 2 655 K for H1 2007 compared to ⁄ 3 630 K for the same period a year before. Revenues for the second semester of 2006 were ⁄ 2 156 K, a rise of more than 20 % from the last six months of activity.

The subsidiary B3Com : Benjamin Castaldi and totalled 2 424 K⁄ for production services for H1 2007 against 1 903 K⁄ for H1 2006, a growth of 27 %.

2. Distribution

Revenues for the distribution segmented amounted to ⁄ 13 983 K for H1 2007 compared to ⁄ 8 833 K for H1 2006, an increase of more than 50 %. Without the activity of ”Du côté de chez vous”, which is being broadcasted on Canal Satellite since October 2006, revenues at comparable basis for H1 2007 amount to 11 169 K⁄, representing an increase of more than 24 %. The last three years of activity in the Distribution segment confirm the catalogue value and the sales forecast.

3. Marketing

As a result of the Group’s strategy to exploit only the merchandising of its own brands in an effort to increase margins, revenues for the marketing segment went from ⁄ 6 259 K to ⁄ 3 065 K for the first semester of 2006 and 2007, respectively.

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II - H1 2007 Net Income highlights

1. EBIT

Earnings before interests and taxes should come close to historical levels due to the increase in production volumes and the rebirth of the post-production activity. The EBIT will also benefit from positive settled deals that were provisioned in order to be conservative.

Other operating income and non operational charges should be comprised of goodwill and badwill.

2. Financial charges and taxes

The increase in financial charges should reflect the increase of the cost debt due to the acquisition of Scarlett Productions and Septembre Productions.

There are no major changes in terms of tax treatment from December 31, 2006.

III - Outlook

Based on market evolution and scheduled productions, Carrere Group confirms another year of double digit growth for its 2007 revenues.

The production volume delivered on the second semester should be more than 200 hours. Carrere Group should deliver the following main productions:

Ego Productions : Le juge est une femme (TF1 - 4 episodes) Dune : - Heidi (France 2 - 26 episodes) - Collection Mac Donald (TF1 - 1 episode) Dajma : - Le canapé rouge (TF1 - 2 episodes) Auteurs Associés : - Section de recherches (TF1 - 6 episodes) - Les affranchis (TF1 - 2 épisodes) Nelka : - Le sanglot des anges (France 2 - 4 episodes) - Marie Madeleine les petites sœurs (TF1 - 1 episode) PM Holding: - Action Directe (TF1 - 2 episodes) - Interim (France 2 - 25 episodes) Scarlett : Coeur Océan 2 (France 2) Carrere Group DA : La famille formidable (TF1 - 3 episodes) Riff International : - C’est pas sorcier : (France 3 - 18 épisodes) Kaliste : Human Bomb (docu-drama of 90’) Guillaume Durand Productions : Esprits libres (France 2 - 11 shows)

The distribution segment totals already more than half of the annual forecast.

The Kirikou and Karaba musical at the Casino de Paris from October 3 to December 31, 2007 should have a strong impact in 2007 and 2008 on merchandising rights and DVD sales on both movies: “Kirikou and the Wild Beasts” and “Kirikou and the Sorcerer”.

The forecasted figures contained in this press release reflect the information known as of today by Carrere Group.

CARRERE GROUP Eurolist – Compartiment B ACTUS Investor Relations Code Isin FR 0000044422 Investor Relations Claude CARRERE Corinne HAURY Tel : +33 149 37 78 00 Tel : +33 153 67 07 65 [email protected] [email protected]

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